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28.01.202220:15 Forex Analysis & Reviews: Asia-Pacific indicators show gains

Exchange Rates 28.01.2022 analysis

Asia-Pacific indicators are mostly on the upswing after a significant decline the day before. China's Shanghai Composite and Shenzhen Composite added 0.05% and 0.85% respectively, while Hong Kong's Hang Seng Index was down by 1.11%. Other Asian indicators showed stronger gains. The Korea Stock Exchange Composite KOSPI gained 1.88%, the Nikkei 225 rose by 1.87%, and the S&P/ASX 200 added 2.18%.

Markets are trying to recoup yesterday's session's losses, when indicators showed sharp decline. Nevertheless, according to experts, market sentiment may remain rather cautious due to the outcome of the US Federal Reserve's meeting, which indicates a high probability of an interest rate hike soon.

Investors are also awaiting the release of statistical data from the US. According to experts' forecasts, personal income increased by 0.5% in the last month of 2021 compared to the previous month, while expenses, on the contrary, decreased by 0.6%.

Fuji Electric Co., Ltd., Shin-Etsu Chemical Co., Ltd. and Fujikura, Ltd. saw the biggest gains among the constituents of the Nikkei 225, with shares rising 10.6%, 7.3% and 6.99% respectively. Shares of SoftBank Group Corp. added 3.2%. Sony Group Corp. rose by 3.7%, while Advantest Corp. surged by 4,1%.

The Hong Kong indicator's drop was driven by a decline in the value of its constituent companies' shares. Thus, share prices of BYD Co., Ltd. fell by 7.28%, Hong Kong Exchanges & Clearing, Ltd. lost 4% and Xinyi Solar Holdings, Ltd. was down by 3.85%. At the same time, Alibaba Group Holding, Ltd. gained 1.5%, while Meituan's shares dropped by 0.2%.

Among the KOSPI components, Samsung Electronics Co. posted the biggest gains, adding 2.8%, as well as Kia Corp., Hyundai Motor Co. and LG Corp. which were up by 2.8%, 1.6% and 3.1%, respectively.

Australian companies' shares also surged. Woodside Petroleum, Ltd. added 0.4%, Santos, Ltd. gained 1.1%, and Beach Energy, Ltd. rose by 0,4%.

Anastasia Kravtsova,
Chuyên gia phân tích của InstaForex
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