Asian Stock Indicators are Rising
Today, Asia-Pacific stock indices are predominantly rising following a rise on Wall Street, but in Tokyo, Sydney and Taipei, trading takes place in the red zone.
The fears associated with geopolitical risks have intensified because of reports that China and the United States agree only on the basic principles of cooperation without any specifics.
The Japanese Nikkei 225 dropped 0.5%, as did the broader Topix index.
Australian S & P / ASX 200 lost 0.1%, Taiwan Taiex – 0.3%.
Hong Kong’s Hang Seng rose by 0.1%, Chinese Shanghai Composite – by 0.7%, Shenzhen Composite – by 1%. Shanghai and Shenzhen Blue Chips Index CSI 300 added 0.8%.
South Korean KOSPI increased by 0.2%, Indian Sensex – by 0.5%.
Malaysia’s GDP growth slowed down in the 3rd quarter to a minimum over 2 years – 4.4% in annual terms, while analysts expected a rise from 4.5% to 4.6%. Malaysian Stock Index FTSE Malay KLCI added 0.7%.
Indices of the Philippines and Indonesia are actively growing after the interest rates have been increased by the central banks of both countries the day before.
Asia’s chip makers went down after American rivals. Shares of Samsung (KS: 005930) Electronics fell 0.8%, Tokyo Electron – 4.3%, Taiwan Semiconductor – 2.2%.
Papers of the world’s largest mining corporations BHP and Rio Tinto (LON: RIO) fell in price in Sydney by 1% and 2.4%, respectively. In general, the mining sector in Japan added 2.5%, oil and gas – 1.3%.
In mainland China, the paper of companies associated with pre-school education is drastically cheaper, since Beijing unexpectedly forbade the listing of kindergarten operators.
China‘s largest property insurance company, People’s Insurance Company (Group) of China (PICC Group), jumped 44% in its debut bid in Shanghai. Previously, the PICC has reduced its offering from 2.3 billion to 1.3 billion shares, which analysts believe has helped support demand.