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Asian Pacific indices mostly up

Relevance up to 08:00 2021-10-21 UTC–4

Asian Pacific indices were mostly surging in Wednesday trading. China’s Shanghai Composite and Shenzhen Composite gained 0.03% and 0.42%, respectively. The Hang Seng Index rose by 0.42%. The S&P/ASX 200 index and the Nikkei 225 index were also up by 0.67% and 0.31%, respectively, while the KOSPI index was down by 0.24%.

Notably, several factors contributed to the positive trend in the Asian Pacific markets. The fact that the Central Bank of China decided to keep the policy rate at 3.85% was encouraging. Asian indices were also positively influenced by American stock indicators, which are growing amid strong data reported by American companies.

At the same time, the IMF reduced its forecast for economic growth in Asian countries. According to the new forecast, experts predict the growth of 6.5% in the region compared to 7.6% announced earlier.

Securities of high-tech companies showed the biggest growth. For example, shares of Alibaba Group Holding, Ltd. gained 6.7%, Meituan rose by 2.9%, and Tencent Holdings, Ltd. jumped by 2%. Geely Automobile Holdings, Ltd. gained 5.3% and Xiaomi Corp. increased by 2%.

According to statistics from Japan, the country’s exports rose by 13% last month. Exports in Japan exceeded the forecasts of 11% growth. Imports also increased by 38.6%. Experts predicted growth to 34.4%. At the same time, there is some slowdown in economic growth compared to the August figures. The country’s imports in August increased by 26.2%, and exports – by 44.7%.

SoftBank Group Corp., Nissan Motor Co., Ltd., Mitsubishi Motors Corp., and Mazda Motor Corp. showed the biggest gains in Japan, up by 4%, 1.4%, 1.6%, and 1.1%, respectively.

Following the decline of the Korean indicator, shares of the largest Korean companies fell. Thus, the securities of Kia Corp. lost 0.4%, Hyundai Motor Co. decreased by 0.5%, Samsung Electronics lost 0.3%. Meanwhile, the price of SK Hynix Inc. securities grew by 0.5%.

Amid the increase in the Australian indicator, the BHP Group, Ltd. stock grew by 0.5%. At the same time, the Rio Tinto, Ltd. stock declined by 0.1%, and Fortescue Metals Group, Ltd. lost 0.4%.

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