Asian stock markets are increasing in the course of trading on Wednesday following the rise in U.S. stock indices a day earlier, while Japanese stock exchanges are not working in connection with a holiday in the country.
The exception is the Chinese mainland market which demonstrates weak negative dynamics because of the growing concern of traders about the increasing number of COVID-19 infections and restrictive measures introduced by the authorities, reports Trading Economics. Thus, since November 24 the Shanghai authorities are tightening the rules for people coming to the city.
The incidence of COVID-19 is rising across the country. On Tuesday, more than 28,000 new cases of infection were detected in China. The Chinese capital recorded more than 1,400 new cases of the coronavirus in a 24-hour period, the most for Beijing since the pandemic began.
China’s Shanghai Composite Index was down less than 0.1% by 7:01 a.m.
Leaders of the decline were tech and healthcare stocks, including Essence Information Technology (-20%), Shijiazhuang Yilin (-6.9%), Guangdong Zhongshe (-9.9%).
Hong Kong’s Hang Seng indicator was up 0.4% by 7:01 a.m.
Internet retailers Alibaba (SPB: BABA) and JD.com were the most significant risers on the Hong Kong Stock Exchange, up 3% and 2.2%, respectively.
Baidu Inc. (SPB: BIDU) is also up 2.6%. The Internet giant reported after the session the day before that its net loss fell sharply in the third quarter compared with the same period last year, while adjusted profit and revenue increased.
In addition, oil company CNOOC (+1.8%), real estate developer Longfor Group (+1.7%), Internet company Tencent (SPB: 700) (+1.4%) and insurance company Ping An Insurance (+1.3%) rose.
South Korea’s Kospi Index was up 0.4% by 6:57 a.m.
One of the world’s biggest chip and electronics maker Samsung Electronics Co. was up 0.5%, automaker Hyundai Motor – 0.3%.
Australia’s S&P/ASX 200 index added 0.6%.
Including rose shares of all the four largest banks in the country: the Commonwealth Bank of Australia and Australia & New Zealand Banking Group – 0.3%, Westpac Banking – 0.2%, National Australia Bank – 0.8%.
Stock prices of the world’s largest mining companies BHP and Rio Tinto rose by 0.9% and 0.1% respectively.
In addition, energy companies, including Woodside Energy (+1.1%) and Beach Energy (+2.6%) rose in value.
Asian stock markets are falling on Friday in anticipation of the release of fresh statistics on the US labor market, which may influence the further actions of the Federal Reserve, writes MarketWatch.
In addition, US stock indices showed negative dynamics in the trading session a day earlier.
In China, the festive “golden week” continues, in connection with which the exchanges of the mainland of the country do not work.
The value of the Japanese Nikkei 225 index decreased by 0.7% by 8:20 a.m. following the shares of technology companies. However, it may show an increase in the first week of the last four, says Trading Economics.
The leaders of the fall in quotations are papers of the electronics manufacturer Sharp Corp. (-3.8%) and retailer Seven & I Holdings Co. (-3.1%). In addition, the cost of Tokyo Electron (-1%), Keyence (-0.6%), Recruit Holdings (-2.2%) and Advantest (-1.6%) is declining.
Meanwhile, stocks of railroad operators Central Japan Railway Co. are on the rise. (+2.4%), East Japan Railway Co. (+1.9%), West Japan Railway Co. (+1.9%), Keisei Electric Railway Co. (+1.6%), Tobu Railway Co. (+1.5%).
The price of securities of the investment and technology SoftBank Group (+0.7%), the manufacturer of consoles and video games Nintendo (+0.2%) is rising.
The Hong Kong Hang Seng fell 1.3% by 8:25 am KSK. The index is falling for the second trading session in a row, but since the beginning of this week it has gained more than 3%.
The stock prices of Country Garden Holdings Co. developers fell most significantly on the Hong Kong Stock Exchange. (-11.6%) and Longfor Group Holdings Ltd (-9%), automakers BYD (-5.1%) and Geely (-3.8%), online retailer JD.com (-3.7%) and consumer electronics manufacturer Xiaomi (-3.6%).
At the same time, securities of the Sands China Ltd casino operator are rising in price. (+2.8%), chip manufacturer Semiconductor Manufacturing International Corp. (+1.1%), insurer AIA Group (+1%).
The South Korean index Kospi by 8:20 am Ksk decreased by 0.3%.
The value of the shares of automaker Hyundai Motor fell by 2%.
Meanwhile, stock quotes of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. are up 0.2% despite the company forecasting a 31.7% fall in third-quarter profit amid weakening consumer demand.
The Australian S&P/ASX 200 index fell 0.8%, following shares of banks and technology companies.
Xero Ltd fell 3.5%, Wisetech Global – 3.3%, Commonwealth Bank of Australia – 0.5%, Westpac Banking – 0.3%, Australia & New Zealand Banking and National Australia Bank – by 0.4%.
The capitalization of the world’s largest mining companies BHP and Rio Tinto fell by 1.7% and 1.4%, respectively.
