Stock indices of Asia-Pacific region (APR) countries do not show unified dynamics during the trading on Wednesday.
Investors are evaluating statistical data from China and waiting for the results of the US Congressional elections.
Meanwhile, the markets are pressed by the worsening situation with a coronavirus in China, which increases fears about potential new lockdowns in the country, writes Trading Economics.
The value of Japan’s Nikkei 225 index by 7:23 a.m. decreased by 0.6%.
The most significant decrease among the components of the indicator was demonstrated by quotations of shares of Nintendo Co. Ltd. (-7.5%). The Japanese manufacturer of game consoles and video games the day before reported a 34% increase in net profit in the first fiscal half, but worsened its annual sales forecast for the Switch console amid a lack of semiconductors.
Shares of several automakers are also down, including Mitsubishi Motors Corp. (-5%), Honda Motor Co. Ltd. (-0.9%) and Nissan Motor Co. Ltd. (-0.9%).
China’s Shanghai Composite index was down 0.4% by 7:35 a.m. and Hong Kong’s Hang Seng was down 1.3%.
The rate of inflation in China slowed in October to its lowest level since May this year. Consumer prices (CPI) rose 2.1% year-on-year last month after climbing 2.8% in September, according to China’s State Bureau of Statistics (SBS).
Analysts on average had expected growth to slow to 2.4 percent, according to Trading Economics.
China’s producer prices (PPI) declined 1.3% year on year last month after rising 0.9% in September. The analysts’ consensus forecast was for a 1.5% decline. Prices fell for the first time since December 2020 amid weak domestic demand and disruptions in production due to tight anti-commodity restrictions.
Leading the decline on the Hong Kong Stock Exchange were shares of biopharmaceutical Wuxi Biologics (Cayman) Inc. (-5.9%), electric car maker BYD Co. Ltd. (-5.8%) and automaker Geely Automobile Holdings Ltd. (-4.4%).
In addition, shares of Tencent (SPB: 700) Holdings Ltd. fell 3.6% and retailer Alibaba (SPB: BABA) Group dropped 1.3%.
South Korea’s Kospi index had gained 1% by 7:33 a.m.
One of the world’s largest chip and electronics maker Samsung Electronics Co. was up 0.5%, while carmaker Hyundai Motor rose 0.3%.
Australia’s S&P/ASX 200 index rose 0.6%.
Share prices of the world’s largest mining companies BHP and Rio Tinto increased by 2.1% and 2.4%, respectively.
