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11.10.2021 09:05 PM
Asian stock indicators show mixed trend

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Asian stock indicators are mixed today. Hong Kong's Hang Seng gained 2.01%, while the Shanghai Composite rose 0.17%. Japan's benchmark Nikkei 225 was up 1.45% and Australia's S&P/ASX 200 inched down 0.4%. The markets in South Korea are closed today due to Hangul Day.

The growth on the Hong Kong stock exchange is primarily caused by the start of trade policy talks between the US presidential administration and the PRC.

Electricity supply problems in China and India lead to constant interruptions and blackouts. Against this backdrop, China is increasing its coal production to ensure an uninterrupted power supply.

In addition to the energy crisis, traders reacted to the news from Lenovo, which canceled plans to issue Chinese depositary receipts on the Shanghai exchange. It caused the company's securities to drop 14.6%.

On the Hong Kong stock exchange, technology companies are showing the biggest gains. According to experts, they will continue to strengthen their position both in China and globally.

Alibaba Group Holding Ltd. shares jumped as much as 9,4% and Meituan added 9.2%. Tencent Holdings climbed 3%. Shares of Chinese automakers BYD Co. Ltd. and Geely Automobile Holdings Ltd. add 4.7% and 2.5%, respectively. At the same time, the shares of China Merchants Bank Co. Ltd. grow in price by 5.5%, while China Life Insurance Co. Ltd. added and 2.4%.

In Hong Kong, shares of developer China Resources Land Ltd. are falling. (-2.4%), Country Garden Holdings Co. Ltd. (-1.9%) and Henderson Land Development Co. Ltd. (-1.6%).

The new Prime Minister of Japan said in his keynote speech that he had no plans to raise taxes on income from investments and dividends, which reassured many traders actively investing in Japanese companies.

In the Japanese market, shares of technological Panasonic Corp. are actively growing. (+ 6.2%) and Sony Group Corp. (+ 4.3%), automakers Nissan Motor Co. Ltd. (+ 5.8%) and Mitsubishi Motors Corp. (+ 5.6%), and investment group SoftBank Group Corp. (+ 4.9%).

Despite the drop in the Australian indicator, Fortescue Metals Group, Ltd., Rio Tinto, Ltd. and BHP Group, Ltd. gained 5.3%, 2% and 1%, respectively.

Anastasia Kravtsova,
Analytical expert of InstaForex
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