Stock indices of the largest countries in the Asia-Pacific region opened trading on Monday with a decrease on expectations of further tightening of monetary policy in the world.
Investors are preparing to follow the meetings of a number of central banks of the world this week. The US Federal Reserve System (FRS) will announce the rate change decision on Wednesday, the Bank of Japan and the Bank of England – on Thursday. Most experts believe that the US and British regulators will once again raise key rates to combat inflation that has been beating many years of records.
At the same time, trades in the Asia-Pacific region on Monday are inactive. Stock exchanges in Japan are closed due to the country’s celebration of Honoring the Elderly Day.
China’s Shanghai Composite fell 0.16% by 8:10 am KST, while Hong Kong’s Hang Seng shed 1%.
The stocks of pharmaceutical companies Sino Biopharmaceutical Ltd are depreciating most significantly on the Hong Kong Stock Exchange. (-6.6%) and Wuxi Biologics (Cayman) Inc. (-5.1%), development Longfor Group Holdings Ltd. (-5.9%) and Country Garden Holdings Co. Ltd. (-5%), as well as IT companies Alibaba Group Holding Ltd. (-3.4%) and Netease Inc. (-3.1%).
Construction Paper China Vanke Co. Ltd. lose 1.7% in price. A division of Onewo Inc. plans to list in Hong Kong and raise 6.15 billion Hong Kong dollars ($783.5 million).
The value of the South Korean index Kospi by 8:20 KSK decreased by 1.1%.
Shares of one of the world’s largest manufacturers of consumer electronics LG Electronics Inc. depreciate by 0.3%, the shares of its competitor Samsung Electronics Co. – by 0.2%. Capitalization of automaker Kia Corp. falls by 0.1%.
The Australian S&P/ASX 200 fell 0.07% since the market open.
The market value of the world’s largest mining company BHP is down 0.1%. Oil companies Woodside Energy and Santos lost 1% and 0.8%.
