Stock indices of the Asia-Pacific region fall on Thursday, following the dynamics of the US stock market.
Investors are evaluating the minutes of the September meeting of the US Federal Reserve, which showed that the US Central Bank is expected to continue raising key rates and keep them high until inflation shows signs of slowing down.
Meanwhile, a number of representatives of the Fed’s leadership believe that in the face of uncertainty, it will be important to adjust the pace of further tightening of monetary policy in order to limit the risk of negative consequences for the economy, the protocol says.
The market is now waiting for the publication of US inflation data in September, which may indicate the effectiveness of the Fed’s policy. The Labor Department report is due Thursday at 3:30 p.m., and analysts on average expect U.S. consumer prices to rise 8.1% year-on-year last month after rising 8.3% a month earlier, according to Trading Economics.
The Hong Kong Hang Seng has lost 1% by 8:13 Moscow time, it is falling for the sixth trading in a row and is at its lowest level in the last 11 years. China’s Shanghai Composite, meanwhile, shed 0.08%.
In Hong Kong, tech stocks continue to fall sharply after it became known that the US is tightening export controls on high-tech semiconductor products and chip-making equipment. Papers JD.com Inc. (SPB: JD) down 3.2%, Netease Inc. (SPB: NTES) – 2.8%, Tencent (SPB: 700) Holdings Ltd. – 1.3% and Alibaba (SPB: BABA) Group – 1%.
At the same time, investors are being negatively impacted by increased coronavirus restrictions in China ahead of the 20th Congress of the Communist Party of China, which begins this weekend.
Among the biggest losers among the Hang Seng components are also listed real estate developers Country Garden Holdings (SPB: 2007) Co. Ltd. (-9.2%) and Longfor Group Holdings Ltd. (-4.4%), and China Merchants Bank Co. Ltd. (-4.2%).
The value of the Japanese Nikkei 225 fell by 0.5% by 8:20 Moscow time.
The leaders of the fall in quotations are papers Toho Co. Ltd. (-3.9%), Daikin Industries Ltd. (-2.9%) and Toto Ltd. (-2.8%).
Meanwhile, the value of Toshiba Corp. up 7.6% on news that a group of investors led by Japan Industrial Partners Inc. put forward an offer to buy the company for 2.8 trillion yen ($19.06 billion).
The Australian S&P/ASX 200 fell 0.07%.
The capitalization of the world’s largest mining company BHP fell by 0.8%, while the shares of its competitor Rio Tinto 0.6%.
The South Korean index Kospi by 8:35 Moscow time fell by 1.4%.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. fall by 0.4%, the cost of automaker Hyundai Motor fell by 1.5%.
