Stock indices of most major countries in the Asia-Pacific region (APR) are declining ahead of meetings of the world’s major central banks.
Traders evaluated the statistical data from China and Japan.
China’s Shanghai Composite index was down 0.35% by 7:41 a.m.
China’s Purchasing Managers’ Index (PMI) for the manufacturing sector rose to 50.1 points in January from 47 points a month earlier, data from China’s State Bureau of Statistics (SBS) showed. Experts on average expected it to rise to 49.8 points, Trading Economics noted.
The PMI above the 50-point mark indicates an increase in activity in the industrial sector. The value of the index exceeded this level for the first time since September against the background of the lifting of anti-commodity restrictions.
Combined profits of major Chinese industrial enterprises fell 4 percent year on year to 8.4 trillion yuan ($1.24 trillion) in 2022, according to the country’s State Statistics Bureau (SBS).
At the same time, the rate of decline accelerated compared to January-November, when the decline was 3.6%.
Meanwhile, Hong Kong’s Hang Seng indicator collapsed by 1.5%.
Sunny Optical Technology Group Co. Ltd. (-5.6%), Hang Lung Properties Ltd. (-5.3%) and Wharf Real Estate Investment Co. Ltd. (-4.2%).
Japan’s Nikkei 225 index was down 0.2% by 7:39 a.m.
Japan’s retail sales rose for the tenth month in a row in December 2022, the rate of increase accelerated and was better than analysts’ expectations.
Sales rose 3.8% from December 2021, the Ministry of Economy, Trade and Industry said. They were up 2.5% in November.
Experts polled by Trading Economics predicted a 3% increase on average.
Shares of Nippon Light Metal Holdings Co. Ltd. (-6.8%), Daiichi Sankyo Co. Ltd. (-4.5%) and Resona Holdings Inc. (-2.8%).
The value of South Korea’s Kospi dropped 0.9%.
Shares of one of the world’s largest chip and electronics maker Samsung Electronics Co. fell 3.3%. The company cut its operating profit by 69% in the fourth quarter compared with a year earlier amid a sharp drop in demand in its memory chip and smartphone divisions.
Shares of automaker Hyundai Motor fell 1.5%.
Australia’s S&P/ASX 200 index lost about 0.1% on the day.
The capitalization of the world’s largest mining companies BHP and Rio Tinto increased by 0.3% and 0.9% respectively.
At the same time the securities of Pilbara Minerals Ltd. fell by 5%.
