The stock indexes of the largest countries in the Asia-Pacific region (APR) are rising in trading on Friday, following the dynamics of the US stock market.
Investors, among other things, analyze statistical data from China and evaluate the statements of the head of the US Federal Reserve System (FRS) Jerome Powell.
The Fed is fully focused on bringing inflation down in the US, Powell said at an online event for the Cato Institute on Thursday.
Powell basically repeated statements he made at a recent symposium at Jackson Hole. He noted that he had decided to be as “short and precise” as possible during the symposium in order to emphasize the Fed’s absolute commitment to returning inflation to the 2% target, The Wall Street Journal writes.
Meanwhile, the European Central Bank (ECB) raised all three key interest rates by 75 bps. following Thursday’s meeting. The base interest rate on loans was raised to 1.25%, the rate on deposits – up to 0.75%, the rate on margin loans – up to 1.5%. The regulator announced its intention to continue raising rates at the next few meetings.
Exchanges in South Korea are closed (autumn holiday Chuseok – full moon day).
The Japanese Nikkei 225 rose by 0.6% by 08:14 Moscow time.
The growth leaders among the components of the index are the shares of the transport company Nippon Yusen K.K. (+3.6%), providing online medical services M3 Inc. (+3.3%) and non-ferrous metals producer Dowa Holdings Co. Ltd. (+2.8%).
Asia’s largest clothing retailer Fast Retailing is up 0.6%, while automotive Nissan Motor Co. – decrease by 0.9%.
China’s Shanghai Composite added 0.6% by 08:16 GMT, while Hong Kong’s Hang Seng edged up 2.4%.
Inflation in China unexpectedly slowed down in August, which indicates weakening domestic demand in the face of quarantine restrictions. Consumer prices (CPI) rose 2.5% year-on-year last month after rising 2.7% in July, the National Bureau of Statistics (GSO) of the People’s Republic of China said.
Analysts on average had expected growth to accelerate to 2.8%, according to Trading Economics.
Producer prices (PPI index) in China last month increased by 2.3% in annual terms – the lowest rate in 18 months. Analysts’ consensus forecast was for a slowdown in August to 3.1% from 4.2% in July.
The growth leaders in Hong Kong are shares of real estate developers Country Garden Holdings Co. Ltd. (+15%), Country Garden Services Holdings Co. Ltd. (+9.5%) and Longfor Group Holdings Ltd. (+6.1%).
The Australian indicator S&P/ASX 200 has gained 0.6% since the market opened.
The market value of the world’s largest mining companies BHP and Rio Tinto increased by 2.5% and 2.2%, respectively.
The stock indices of the largest countries of the Asia-Pacific region (APR) are mostly down on trading on Wednesday, with the exception of the Chinese Shanghai Composite, which is growing slightly.
The Japanese Nikkei 225 fell by 0.76% by 8:24 Moscow time.
The leaders of the fall among the components of the index are the shares of the transport company Nippon Yusen K.K. (-7.3%), electronics manufacturer Sharp Corp. (-6.5%) and transport Mitsui O.S.K. Lines Ltd. (-6.1%).
Quotations of shares of the largest clothing retailer in Asia, Fast Retailing, grow by 0.5%, Nissan Motor Co. – by 2.3%.
China’s Shanghai Composite added 0.04% by 8:31 Moscow time, while Hong Kong’s Hang Seng fell by 1.74%.
China’s foreign trade surplus unexpectedly fell to $79.39 billion in August, a three-month low, according to data from the General Administration of Customs of the People’s Republic of China. A month earlier, the indicator reached a record $101.26 billion.
At the same time, analysts expected an average reduction in August to $92.7 billion, reports Trading Economics.
Exports reached $314.92 billion, which is 7.1% higher than in August last year. For the first time since April, growth rates are expressed in a single-digit number in percentage terms. Imports in August increased by 0.3% in annual terms – up to $235.53 billion.
Experts on average assumed an increase of exports by 12.8% per hour, imports – by 1.1%.
The leaders of the decline in Hong Kong are the shares of the Internet giant Baidu Inc. (SPB: BIDU) (-4.15%), Budweiser Brewing Co. APAC Ltd. (-3.7%) and Alibaba Health Information Technology Ltd. , which provides services for the collection and use of medical data, (-3.5%).
Shares of Tencent Holdings Ltd. fall by 2% on the news that the company acquired a minority stake in the holding company that controls the publisher of the popular video game “Assassin’s Creed” Ubisoft Entertainment SA.
The South Korean Kospi index fell by 1.5% by 8:29 Moscow time.
Shares of one of the world’s largest manufacturers of chips and consumer electronics, Samsung Electronics Co. fell in price by 1.9%, while Hyundai Motor – by 0.5%.
The Australian indicator S&P/ASX 200 has decreased by 1.4% since the opening of the market.
Australia’s GDP in the second quarter of 2022 increased by 0.9% compared to the previous quarter, according to official statistics. Growth was recorded for the third quarter in a row. Australia’s economy grew by 0.7% in the first quarter. Analysts on average expected GDP growth in the second quarter by 1%, according to Trading Economics.
The market value of the world’s largest mining companies BHP and Rio Tinto decreased by 2.1% and 1.5%, respectively.
The stock markets of the largest countries in the Asia-Pacific region are falling at the auction on Thursday on the continuing fears about the rise in interest rates by the central banks of the world.
Global equity markets have come under pressure this week following the annual economic symposium at Jackson Hole, during which Fed Chairman Jerome Powell and a number of European Central Bank officials called for – despite the risks of a recession – to raise rates to a level that will control inflation.
“At some point, central banks will realize that inflation remains high despite the increase in interest rates, and they will stop,” said Clifford Bennett, chief economist at ACY Securities.
The Hong Kong Hang Seng index fell by 1.7% by 08:20 Moscow time, the Chinese Shanghai Composite index by 0.1%.
Among the leaders of the decline in quotations on the Hong Kong Stock Exchange are shares of the Internet company Meituan (-5.2%), casino operator Sands China Ltd. (-5%), automaker BYD Co. Ltd. (-4.9%) and restaurant chain owner Haidilao International Holding Ltd. (-3.9%).
China’s manufacturing purchasing managers’ index (PMI) fell to 49.5 in August from 50.4 in the previous month, according to data from Caixin Media Co. and S&P Global, which calculate the value of the indicator.
A PMI value above 50 points indicates an increase in activity in the sector, below – its weakening. Analysts had expected a less significant fall, on average, to 50.2 points, according to a Trading Economics poll.
Meanwhile, Caixin and S&P Global’s reading came close to the official manufacturing PMI estimate of 49.4 released by China’s National Bureau of Statistics a day earlier.
The value of the Japanese Nikkei 225 index decreased by 1.6% by 8:30 Moscow time.
Among the components of the index, shares of the chemical Unitika Ltd. are the most actively depreciating. (-4.6%), trading Marubeni Corp. (-4%) and engineering Denso Corp. (-3.9%).
Papers of the media company Kadokawa Corp. rise by 5% on the news that its IT division – FromSoftware Inc. – invested in Sony Group Corp. and Tencent Holdings Ltd.
The South Korean index Kospi by 8:35 Moscow time fell by 1.8%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. cheaper by 2%, automaker Kia Corp. – by 0.3%.
The South Korean economy in the second quarter of 2022 grew by 2.9% compared to the same period last year, showed the final data of the Bank of Korea. Compared to the first quarter of 2022, the country’s GDP increased by 0.7%.
Both estimates coincided with preliminary data.
The Australian S&P/ASX 200 fell 1.7%.
The market value of the world’s largest mining companies BHP and Rio Tinto falls by 1% and 1.3% respectively.
Chinese stock indices are falling in trading on Tuesday. The rest of the stock markets of the largest countries in the Asia-Pacific region (APR) traded in positive territory.
The Japanese Nikkei 225 index rose by 1.2% by 8:10 Moscow time.
Among the components of the index, the shares of NEC Corp. (+6.4%), industrial equipment manufacturer Mitsubishi Heavy Industries Ltd. (+5.2%) and Sumitomo Osaka Cement Co. Ltd. (+5%).
Unemployment in Japan in July remained at the June level of 2.6%, according to the data of the Ministry of Internal Affairs and Communications of the country. The indicator coincided with the average forecast of analysts surveyed by Trading Economics, and has been at this level for the third month in a row.
The number of unemployed decreased by 2.2% compared to July last year, to 1.76 million people, while the number of employed remained unchanged at 67.34 million people.
The Chinese Shanghai Composite index fell by 0.6% by 8:20 Moscow time, the Hong Kong Hang Seng fell by 1%.
In Hong Kong, Alibaba Health Information Technology Ltd. (-4.4%), biological Wuxi Biologics (Cayman) Inc. (-2.9%), PC manufacturer Lenovo Group Ltd. (-2.6%) and technological Meituan (-2.1%).
The market capitalization of real estate developer Country Garden Holdings Co. falls by 3.5%. The company’s net profit in January-June fell by 96%, adjusted – by 68% amid the crisis in the real estate sector in China.
Stock quotes of the investment CITIC Ltd. grow by 1.5% after the publication of financial statements for the first half of the year. The company’s net profit increased by 13%.
The South Korean index Kospi by 8:25 Moscow time rose by 0.9%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. grow by 0.3%, automaker Hyundai Motor Co. – by 3.7%.
The Australian S&P/ASX 200 rose 0.7%.
Paper Medical Healius Ltd. increase in price by almost 4%. The company’s net profit in the past financial year jumped 7 times.
Stock indexes of the largest countries in the Asia-Pacific region (APR) mostly rose in trading on Friday, with the exception of China’s Shanghai Composite, which fell after an initial rise.
Traders are awaiting a speech by US Federal Reserve Chairman Jerome Powell at the annual economic symposium in Jackson Hole.
The Japanese Nikkei 225 index rose 0.57% by the close of trading.
Among the components of the index, shares of polymer producer Unitika Ltd. rose the most. (+4.4%), chemical company Mitsui Chemicals Inc. (+3.1%) and special equipment manufacturer Komatsu (+3%).
China’s Shanghai Composite fell 0.3%, while Hong Kong’s Hang Seng rose 1%.
China has allocated 1 trillion yuan ($146 billion) to stimulate the economy, mainly focusing on infrastructure spending.
The State Council of China has unveiled a package of measures that includes an additional 300 billion yuan that state-owned banks can invest in infrastructure projects, on top of the 300 billion yuan announced at the end of June. In addition, regional authorities will receive 500 billion yuan in the form of special bonds from previously unused quotas. In turn, state-owned energy companies will be able to sell bonds worth 200 billion yuan. Meanwhile, the agricultural sector will receive 10 billion yuan in subsidies.
In Hong Kong, developer Longfor Group Holdings Ltd rose most significantly. (+5.7%), producing solar panels Xinyi Solar Holdings Ltd. (+5.4%) and biotech Wuxi Biologics (Cayman) Inc. (+5.3%).
Shares of CNOOC Ltd. fell by 1.1%, although China’s largest offshore oil and gas company more than doubled its net profit in the first half of 2022 thanks to rising oil prices.
South Korean index Kospi rose by 0.15%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. rose by 0.5%, automaker Hyundai Motor Co. – by 0.8%.
The Australian S&P/ASX 200 gained 0.8%.
The market value of the world’s largest mining company BHP rose by 1.5%, its competitor Rio Tinto Ltd. – by 1.4%.
