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02.09.2022 04:04 PM
Asia-Pacific indices trading mixed

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Asia-Pacific stock indices show mixed trading. Some of the indicators are declining. Hong Kong's Hang Seng Index decreased by 0.65%, and Australia's S&P/ASX 200 slightly dropped by 0.01%. Other indicators are rising. The Shanghai Shanghai Composite index added 0.28%, almost as much as the KOSPI which added 0.22%, Shenzhen Composite rose by 0.65%, and Japan's Nikkei 225 gained 0.36%.

Investors are awaiting the release of the US labor market data, as this information may influence further decisions on the subsequent interest rate hike. According to preliminary estimates, unemployment in August remained unchanged at 3.5%, and the number of unemployed in the agricultural sector rose by 300,000. Moreover, if the increase in jobs really is such a number, analysts predict that the rate will be raised by 0.75% already this month.

Among Chinese companies, Country Garden Holdings, Co., Ltd. dropped by 4%, China Resources Land, Ltd. declined by 3.7%, Anta Sports Products, Ltd. lost 2.3%, and Lenovo Group, Ltd. decreased by 2.2%.

NIO, Inc. and XPeng, Inc. plummeted by 2% and 4.1% respectively. Electric car shipments rose in August. At the same time, the growth rate fell short of investors' forecasts.

Among the Japanese Nikkei 225 components, Isetan Mitsukoshi Holdings, Ltd. added 2.7%, Seven & I Holdings, Co., Ltd. jumped by 2.5%, and J. Front Retailing, Co., Ltd. gained 2.4%.

South Korea saw a 5.7% year-on-year increase in inflation in August, which was lower than analysts had expected, predicting a 6.1% hike. However, inflation was down from 6.3% in July, which was a two-year record for this indicator. On a monthly basis, the increase in consumer prices declined by 0.1% compared to July's increase of 0.5%. The decline in inflation was due to a decrease in the growth rate of food and energy prices.

The components of the Korean indicator were trading mixed. Kia, Corp. rose by 1.2%, while Samsung Electronics, Co. fell by 0.9%.

Among Australian companies, there was a 2% drop in the price of BHP securities. Rio Tinto declined by 2.6%.

Anastasia Kravtsova,
Analytical expert of InstaForex
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