Stock indices of the Asia-Pacific region (APR) are falling during trading on Friday, traders evaluate the results of the meeting of the Bank of Japan and quarterly reports of companies.
China’s Shanghai Composite fell 1.4% by 8:21 am KST, while Hong Kong’s Hang Seng fell 2.9%.
The drop leaders on the Hong Kong Stock Exchange are shares of Country Garden Holdings Co. Ltd. (-9.9%), China Mengniu Dairy Co. Ltd. (-9.5%) and Longfor Group Holdings Ltd. (-9.2%).
Shares of China CITIC Bank Corp. cheaper by 0.3%. The Chinese bank in the third quarter slightly increased net income on the back of an increase in net interest income and operating profit.
The value of the Japanese Nikkei 225 fell by 0.7% by 8:21 am KSK.
The Bank of Japan left unchanged the main parameters of monetary policy (MP) following the results of the two-day meeting that ended on Friday.
The short-term interest rate on deposits of commercial banks with the Central Bank was left at minus 0.1% per annum, the target yield on ten-year government bonds is near zero, the Japanese Central Bank said in a statement released after the meeting.
This was in line with the expectations of most analysts.
Meanwhile, unemployment in Japan rose to 2.6% in September from 2.5% a month earlier, according to data from the country’s Ministry of Internal Affairs and Communications.
On average, experts predicted that the indicator would remain at the August level, according to Trading Economics.
By comparison, unemployment was at 2.8% in September 2021.
The stocks of industrial robots maker Fanuc Corp are the most significantly depreciated. (-5.5%), which released quarterly results that disappointed investors and worsened annual demand, citing weakening demand in China.
Also among the drop leaders in the index are papers Kawasaki Kisen Kaisha Ltd. (-4.4%) and Hoya Corp. (-4.3%).
The South Korean index Kospi lost 0.6% by 8:25 am KSK.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. decrease by 3.2%.
Shares of another chip maker, SK Hynix Inc., fell 6.7% for a second straight session on the back of weaker-than-expected quarterly results and the company’s announcement of plans to cut capex.
At the same time, shares of automakers Kia Corp. grow by 0.8%, Hyundai Motor Co. – by 1.3%.
The Australian S&P/ASX 200 fell 0.9%.
The capitalization of the world’s largest mining companies BHP and Rio Tinto decreased by 5% and 4.4%, respectively.
