Stock indices of the Asia-Pacific region (APR) are rising during trading on Wednesday, following the dynamics of the US stock market.
China’s Shanghai Composite rose 1.06% by 8:24 pm, Hong Kong’s Hang Seng rose 1.45%.
Alibaba (SPB: BABA) Health Information Technology Ltd., which provides services for the collection and use of medical data (+7.6%), and biopharmaceuticals CSPC Pharmaceutical Group Ltd. are the leaders in growth of quotations on the Hong Kong Stock Exchange. (+6.3%) and Wuxi Biologics (Cayman) Inc. (+5.7%).
Paper retailer JD.com Inc. (SPB: JD) gained 0.3% while Alibaba Group lost 1.3%.
The value of the Japanese index Nikkei 225 to 8:27 qoq increased by 0.9%.
The shares of Denka Co, a chemical company, are rising most significantly. Ltd. (+6.1%), M3 Inc., providing medical services (+4.7%), and insurer T&D Holdings Inc. (+4.1%).
The South Korean index Kospi added 0.7% by 8:30 qoq.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. grow by 3%, the cost of automaker Kia Corp. decreases by 0.8%.
Shares of another South Korean chipmaker, SK Hynix Inc., rose 1.4%, although the company said it plans to cut investments in 2023 by more than half amid a sharp decline in third-quarter net income due to weak demand for semiconductors.
The Australian S&P/ASX 200 gained 0.2%.
Consumer price growth in Australia accelerated, raising fears that the Reserve Bank of Australia will have to raise interest rates more than previously forecast, writes MarketWatch.
Consumer prices rose 7.3% in September compared to a revised 6.9% growth a month earlier. This is the highest inflation rate since at least September 2018, writes Trading Economics.
The capitalization of the world’s largest mining companies BHP and Rio Tinto increased by 0.1% and 0.6%, respectively.
