Equity markets in the Asia-Pacific region (APAC) are down in trading on Friday.
Investors are waiting for more clarity from Chinese authorities after Beijing signaled it was easing a series of tough restrictions against the spread of the coronavirus infection, CNBC writes.
Several major Chinese cities have announced easing of anti-covirus measures. Guangzhou, Shijiazhuang and Chengdu relaxed requirements for the regularity of tests for COVID-19 and the movement of citizens, Bloomberg reported. Markets and public transportation began operating in some areas. In Beijing, sick people are allowed to stay at home instead of being isolated in special centers.
Japan’s Nikkei 225 was down 1.7 percent by 7:11 a.m. Ksk. At a certain point in trading the indicator fell to a three-week low, Trading Economics said.
Shares of automaker Mitsubishi Motors Corp. (-5.6%), bearings and cardan shafts maker NTN Corp. (-5.3%) and electric cables maker Fujikura Ltd. (-4.3%) act as leaders in the decline among index components.
Moreover, shares of such big companies as SoftBank Group (-0.3%), Sony Group Corp. (-1.3%), Fast Retailing Co. (-2.3%) also declined.
China’s Shanghai Composite had lost 0.3% by 7:16 a.m. Ksk, Hong Kong’s Hang Seng had lost 0.6%.
Investors fix profits after a confident rally associated with the softening of the PRC’s position on the anti-covids restrictions, writes Trading Economics.
The most significant decline in quotations on the Hong Kong Stock Exchange is shown by shares of developers Country Garden Holdings Co. Ltd. (-6.4%), Country Garden Services Holdings Co. Ltd. (-5.6%) and Longfor Group Holdings Ltd. (-5.4%).
South Korea’s Kospi index was down 1.4 percent by 7:14 a.m. kk.
One of the world’s biggest chip and electronics maker Samsung Electronics Co. was down 2.9 percent, while car maker Hyundai Motor slid 1.5 percent.
Consumer prices in South Korea rose 5 percent year on year in November, the slowest pace since April 2022, after rising 5.7 percent a month earlier, data from the country’s statistics agency showed. Analysts on average had expected inflation in the country to be 5.1 percent, Trading Economics wrote.
On a monthly basis, consumer prices in November fell by 0.1% after rising 0.3% a month earlier.
The Australian S&P/ASX 200 index lost 0.7% in trading on Friday.
Retail sales in Australia fell 0.2% month-on-month in October, compared with an increase of 0.6% a month earlier, official statistics showed.
This is the first decline in the current year. It is due to the fact that price pressures and rising interest rates have begun to have a negative impact on consumer spending, according to Trading Economics.
Share prices of the world’s largest mining companies BHP and Rio Tinto fell by 1.6% and 1.1%, respectively.
