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%.
