Business news from Ukraine

Business news from Ukraine

Asia-Pacific stock indices are rising in trading with exception of Japan

30 November , 2022  

Traders are waiting for the speech of the head of the U.S. Federal Reserve (Fed) Jerome Powell, which will be held on Wednesday evening, as well as assess statistical data from China and follow the news about the restrictions related to the spread of coronavirus infection in the country, and large-scale protests against them.
Chinese authorities the previous day announced plans to more actively vaccinate the elderly population against the coronavirus, shortening the time between vaccinations for those over 80 years old to three months.
The Shanghai Composite stock index was up 0.06% by 7:22 a.m. KSC and the Hang Seng of Hong Kong was up 0.8%.
China’s Purchasing Managers’ Index (PMI) for the manufacturing industry fell to 48 points in November from 49.2 points a month earlier, the fastest pace since April, data from China’s State Bureau of Statistics (SBS) showed.
Experts on average had expected it to drop to 49 points, Trading Economics noted.
The service sector PMI fell to 46.7 points in November, also the fastest pace since April. In October, its value was 48.7 points.
Growth leaders in Hong Kong are shares of automaker Geely Automobile Holdings Ltd. (+8.6%), telecom China Unicom Ltd. (+6.25%) and restaurant chain owner Haidilao International Holding Ltd. (+3.7%).
Japan’s Nikkei 225 stock index was losing 0.35% by 7:22 a.m. KSC.
Japan’s industrial output fell 2.6% in October compared to the previous month, preliminary statistical data showed. The decline in industrial production was recorded for the second month in a row. In September the index decreased by 1.7%.
Experts on average expected a decrease in industrial production in October by 1.5%, according to Trading Economics.
Leaders of the decline are securities of Tokyo Electric Power Co. Holdings Inc. (-3.3%), construction materials producer Sumitomo Osaka Cement Co. Ltd. (-3.3%) and game developer Konami Group Corp. (-2.9%).
South Korea’s KOSPI was up 1.1% by 7:24 a.m. KSC.
South Korean industrial production fell 3.5% month-over-month in October. The rate of decline was the fastest since May 2020. In September, the figure was down 1.9%. Experts had forecast a 1% decline in industrial production in October.
Retail sales in the country fell 0.2% in October relative to the previous month after falling 1.9% in September.
Shares of the world’s biggest chip and consumer electronics maker Samsung Electronics Co. rose 1.5% and automaker Hyundai Motor Co. rose 0.3%.
Australia’s S&P/ASX 200 index added 0.4% on Wednesday.
Australia’s consumer price index (CPI) rose 6.9% year on year in October, official data showed. The rate of growth slowed from a 7.3 percent rise in September, which was the highest since at least September 2018, Trading Economics wrote.
Experts on average had predicted a 7.4% rise in the index.
Share prices of the world’s largest mining companies BHP and Rio Tinto rose by 1.6% and 1.7%, respectively.

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