Stock indices of the countries of the Asia-Pacific region are confidently rising in trading on Friday after several days of decline this week.
The Hong Kong Hang Seng jumped 3.5% by 8:25 am. The indicator fell for six sessions in a row, after which it fell to its lowest point in the last 11 years. China’s Shanghai Composite index, meanwhile, added 1.8%.
In Hong Kong, the shares of biopharmaceutical companies are most actively rising in price: papers of Wuxi Biologics Inc. add 12.4%, Sino Biopharmaceutical (SPB: 1177) Ltd. – 8.2% and CSPC Pharmaceutical Group Ltd. – 6%.
In addition, the shares of real estate development companies are becoming leaders in the growth of quotations: Country Garden Services Holdings Co. Ltd. rises in price by 9%, Longfor Group Holdings Ltd. – by 5.7%.
Investors are also evaluating September data on changes in consumer and producer prices in China.
Consumer prices (CPI) rose 2.8% year-on-year last month after rising 2.5% in August, the National Bureau of Statistics (GSO) of the People’s Republic of China said. Analysts on average also expected growth to accelerate to 2.8%, according to Trading Economics. The rate of increase was the highest since April 2020.
Producer prices (PPI index) in China last month rose by 0.9% in annual terms – the lowest rate in 20 months. Analysts’ consensus forecast was for growth to slow to 1% in September from 2.3% in July. The PPI fell 0.1% on the previous month (-1.2% in August).
The value of the Japanese Nikkei 225 index by 8:30 Moscow time increased by 3.3%.
Shares of Asia’s largest clothing retailer Fast Retailing Co. jumped 8%. The company’s net profit for the fiscal year that ended on August 31 jumped 61%, while revenue jumped 7.9%. Fast Retailing expects operating income to increase by 18% in the current financial year.
The growth leaders of quotations are also securities of IT company NTT Data Corp. (+5.6%) and pharmaceutical Daiichi Sankyo Co. Ltd. (+5.5%).
The South Korean index Kospi added 2.3% by 8:40 Moscow time.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. grow by 2.2%, the value of automaker Kia Corp. increased by 1.2%.
The Australian S&P/ASX 200 rose 1.75%.
The capitalization of the world’s largest mining company BHP rose 2%, while shares of its rival Rio Tinto rose 1.1%.
Metallurgical enterprises of Ukraine in January-September of this year reduced revenues from the export of ferrous metals by 31% compared to the same period last year – up to $3 billion 965.813 million.
According to statistics released by the State Customs Service (SCS), ferrous metals accounted for 11.99% of total merchandise export earnings over this period, compared to 21.33% in January-September 2021.
In September, proceeds from the export of ferrous metals amounted to $241.452 million.
At the same time, Ukraine in January-September of this year reduced imports of similar products by 38.2% – to $667.329 million. In September, it was imported for $108.237 million.
In addition, during the specified period, Ukraine reduced the export of metal products by 25.4% – to $805.118 million. In September, they were delivered for $337.429 million.
Imports of metal products in January-September decreased by 40.7% – to $467.689 million (in September – $54.5 million).
As reported, Ukraine in 2021 increased foreign exchange earnings from exports of ferrous metals by 81.4% compared to 2020, to $13 billion 951.117 million. Ferrous metals accounted for 20.49% of total revenues from exports of goods over this period against 15 .63% for 2020.
At the same time, Ukraine increased imports of similar products by 48.8% in 2021, to $1 billion 547.477 million.
In addition, Ukraine in 2021 increased the export of metal products by 43% – up to $1 billion 293.199 million.
Imports of metal products over the past year increased by 28% – up to $1 billion 125.908 million.
The rate of bitcoin fell by 4% during trading on Thursday after the publication of data on higher-than-expected inflation in the United States.
The price of bitcoin at 16:11 CST fell by 4.4% compared to the closing level of the previous trading and amounted to $18,312 thousand, which is the lowest level since June 18.
The rate of ether (Ether) fell by 6.6%, to $1.212 thousand.
Consumer prices (CPI index) in the US in September rose by 8.2% compared to the same month last year, showed data published on Thursday by the country’s Ministry of Labor. Thus, inflation slowed to a seven-month low from 8.3% in August, but was higher than the 8.1% expected by analysts polled by Bloomberg.
On a monthly basis, the CPI index increased by 0.4%, although analysts were expecting a rise of 0.2%.
Meanwhile, consumer price growth excluding the cost of food and energy (Core CPI) in September accelerated to 6.6% in annual terms from 6.3% in August.
“The whole world is looking at US inflation data to try and predict what the Fed is doing,” said Stefan Rast, founder of research firm Truflation.
Higher-than-expected inflation raises the possibility of another 75 basis point rate hike at the next Fed meeting on November 1-2.
Ukraine has received $1.3 billion in additional emergency financing from the International Monetary Fund (IMF), Prime Minister Denys Shmyhal has said.
“$1.3 billion of additional emergency financing from the International Monetary Fund has arrived in Ukraine. The funds will be used to finance priority needs: strengthening defense capabilities, paying pensions, social programs and supporting the economy,” Shmyhal wrote on his Telegram channel on Thursday.
According to him, in general, since the beginning of the full-scale war, the IMF has provided Ukraine with $2.7 billion.
“Also, in the near future, we will start preparing a new special program with the Fund, which will start working next year. We thank our partners and allies for their unwavering support,” the prime minister said.
Turkish President Recep Tayyip Erdoğan has called for continuing the implementation of the Istanbul agreement on the shipment of grain and fertilizers from Black Sea ports.
“There is yet another question regarding grains and fertilizers. [It is necessary] to strengthen the Istanbul agreement and to continue its fulfillment so that Russian fertilizers reach the poorest countries via Turkey,” Erdoğan said at a meeting with Russian President Vladimir Putin.
The UN, Russia, Turkey and Ukraine signed a document in Istanbul on July 22 to open a grain corridor from three Ukrainian ports – Chornomorsk, Odesa and Pivdenny.
The demand for townhouses and cottages in Kyiv in September decreased by 60-100% since the beginning of the year, while prices in hryvnia equivalent increased by 75%, said Viktor Kovalenko, the director of the RealExpo consulting company.
According to a company study published by the zagorodna.com Internet portal, the cost per square meter in suburban real estate was affected by the growth of the dollar exchange rate and an increase in the cost of construction materials by 50%.
Most of all, the average price in January-September increased in the Solomiansky district – by 89.8% (up to UAH 50,400/sq m). In Holosiyivsky district, the price per square meter increased by an average of 75% (up to UAH 76,300/sq m), in Podilsky – by 67% (up to UAH 91,000/sq m).
According to the company, in the nine months of 2022, two new projects appeared on the suburban real estate market in Kyiv, while over the same period last year, the supply increased by 16 new projects.
At the same time, construction has been frozen in Kyiv at nine sites, which is about a third of the total number of cottage settlements under construction and projected, the study notes.
According to the developers of suburban real estate surveyed by the company, the demand for this type of housing has declined significantly, but developers report the presence of pent-up demand.
“Demand for cottages in Kyiv, according to the experts, has decreased by 60-100% since the beginning of the war, but it is gradually resuming. It was military operations in Kyiv and its environs, attacks that influenced and continue to influence the decline in demand for townhouses and cottages in Kyiv,” explained Kovalenko.
