The main stock indexes of the Asia-Pacific region (APR) are steadily rising during trading on Tuesday following the US stock market.
American stock indices finished the first trading session of the fourth quarter with a steady growth, the rise of the Dow Jones Industrial Average was the highest since February, amounting to 2.7%.
Mainland China’s stock exchanges are closed for the Founding Day of the People’s Republic of China holidays, Hong Kong’s stock exchanges for the Double Ninth Festival.
The value of the Japanese index Nikkei 225 to 8:27 CSK increased by 2.8%.
Among the components of the index, the growth leaders are Nippon Sheet Glass Co. Ltd. (+8.4%), Itochu Corp. (+7.9%) and Marubeni Corp. (+6.8%).
In addition, the price of securities of investment and technology SoftBank Group (+5.1%), consumer electronics manufacturer Sony (+2.3%), automotive Nissan Motor (+2%) and Toyota Motor (+2.7%) is rising.
The South Korean Kospi index increased by 2.4% by 8:30 am KSK.
Purchasing Managers Index (PMI) in the processing industry of South Korea, calculated by S&P Global, fell to 47.3 points in September from 47.6 points a month earlier. A PMI value above 50 points indicates an increase in activity in the sector, below – its weakening. Thus, activity in the sector has been declining for the third month in a row.
Quotes of securities of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. grew by 4%, while automaker Hyundai Motor – by 1.4%.
The Australian S&P/ASX 200 added 3.75%.
Shares of the world’s largest mining companies BHP and Rio Tinto increased by 3.8% and 3.1%, respectively.
The Reserve Bank of Australia (RBA) unexpectedly slowed down the pace of key interest rate hikes, noting the deterioration of the global economic outlook.
The rate was raised on Tuesday by 25 basis points (bp) to 2.6%. The vast majority of economists expected it to increase by 50 bp, writes The Wall Street Journal.
The RBA raised the bet by 50 bp. in June, July, August and September, in an effort to slow inflation, which the Central Bank expects to peak by the end of 2022 at around 8%.
