The exception is Hong Kong’s Hang Seng, which fell more than 1.5% by 8:31 AM ET.
The decline leaders are shares of automotive companies Geely and BYD, which lost 6.3% and 5.3%, respectively. On Friday it became known that the investment company of American billionaire Warren Buffett Berkshire Hathaway continued to reduce its stake in BYD and sold the second stake in the automaker in two weeks.
In addition, papers of online retailers JD.com Inc. are getting cheaper. (-3.4%) and Alibaba (-2.7%), consumer electronics manufacturer Xiaomi Corp. (-2.9%), Internet giant Tencent Holdings Ltd. (-3.1%).
Following the increase in oil prices, stock prices of representatives of this industry are growing: PetroChina Co. (+1.9%), China Petroleum & Chemical Corp. (+1.7%) and CNOOC (+1.5%).
The Chinese authorities are introducing restrictive measures and continue mass testing for COVID-19 among more than 20 million residents of the city of Chengdu, the administrative center of Sichuan province. It is the sixth most populous city in the country. In addition, measures to restrict movement were taken in Shenzhen.
Business activity in China’s industrial sector rose for the third month in a row in August, according to the Purchasing Managers’ Index (PMI) calculated by Caixin Media and S&P Global.
While the PMI slipped to 55 from a 15-month high of 55.5 in July, it remained above the 50-point mark, which indicates an increase in activity in the sector. At the same time, analysts expected the index to fall to an average of 51 points, according to Trading Economics.
Consolidated PMI last month decreased to 53 points from 54 points in July.
The Chinese Shanghai Composite index is almost at the level of previous trading, as well as the Japanese Nikkei 225.
The price of securities of the Japanese oil company Inpex is growing by 0.7%, non-ferrous metals producer Sumitomo Metal Mining Co. – by 1.9%, investment technology company Softbank Group – by 0.15%.
Asia’s largest clothing retailer Fast Retailing is down 1%, automaker Nissan Motor Co. – by 1.6%.
The South Korean index Kospi by 08:20 Moscow time fell by 0.3%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. fell by 1%, while automaker Hyundai Motor – rose by 1.8%.
The Australian indicator S&P/ASX 200 added 0.2% since the market opened.
The market value of the world’s largest mining companies BHP and Rio Tinto rose by 2.6% and 1.8%, respectively.
Retail sales in Australia rose 1.3% month-on-month in July to a record A$34.67 billion, final data show. This is the biggest increase since March.
