Business news from Ukraine

Business news from Ukraine

Asia-Pacific stock indices rise except Japan

13 January , 2023  

Stock indices of most major Asia-Pacific countries are rising on Friday, the exception is the Japanese market.
Japan’s Nikkei 225 index was down 1.2% by 7:32 am KC.
One of the reasons was the 7.4% drop of Fast Retailing stocks. A day earlier Asia’s largest apparel retailer, which owns the Uniqlo brand, released its September-November reporting, which failed to meet analysts’ expectations.
Fast Retailing increased its revenue in the first quarter by 14%, but it was below the forecasts. At the same time, net income fell 9 percent, mainly due to weak performance in China, where strict quarantine restrictions were in effect.
In addition, shares of automakers Mitsubishi Motors Corp. (-4.3%), Mazda Motor Corp. (-4.2%) and Subaru Corp. (-2.6%) became cheaper on Friday.
Meanwhile, financial sector stocks including Mitsubishi UFJ Financial Group Inc. (+3.5%), Chiba Bank Ltd. (+5.2%), Concordia Financial Group (+6.4%), Fukuoka Financial Group Inc. (+6.4%) rose.
China’s Shanghai Composite was up 0.5 percent by 7:37 a.m. ET, Hong Kong’s Hang Seng gained 0.1 percent.
Shares of game developer Netease Inc. surged 2.9 percent on Hong Kong Stock Exchange, oil producers PetroChina Co. and CNOOC gained 2.9 percent and 1.9 percent, respectively, while Chow Tai Fook Jewellery Group gained 3.1 percent and retailer Alibaba rose 0.6 percent.
China’s foreign trade surplus in 2022 increased by 29.7% to a record $877.6 billion, China’s General Administration of Customs reported on Friday. At the same time, exports increased by 7% and imports increased by 1.1%. The growth rates were lower than in 2021, when they were 29.9% and 30.1%, respectively.
Meanwhile, China’s exports fell 9.9% in December and imports fell 7.5%. The decline in both indicators was recorded for the third month in a row.
The value of South Korea’s Kospi was up 0.85% by 7:32 a.m. ET. The index has been rising for the eighth consecutive trading session and is at its highest level in the past month.
Stocks of one of the world’s biggest chip and electronics makers Samsung Electronics Co. rose 0.7%, automaker Hyundai Motor rose 1.5% and steelmaker Posco gained 4.6%.
Australian S&P/ASX 200 index added 0.7% over the day.
Shares of the world’s largest mining companies BHP and Rio Tinto gained 0.5% and 0.9% respectively.
The value of the country’s leading wine producer Treasury Wine Estates Ltd. rose 2.1%.

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