Asia-Pacific stock markets are predominantly growing | Market Analysis
 

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Asia-Pacific stock markets are predominantly growing
03:06 2021-09-01 UTC--4
Exchange Rates analysis

Investors are assessing the economic impact of the spread of the delta coronavirus infection in Asia. They are trying to figure out which industries will benefit and which will lose against the backdrop of the challenges posed by rising incidences, including supply chain disruptions and reduced consumer consumption.

Besides, the attention of traders is attracted by the published statistics.

China's Purchasing Managers' Index (PMI), calculated by Caixin Media Co. and Markit, in August fell to 49.2 points from 50.1 points a month earlier. The Caixin Index calculates more private companies representing small and medium-sized businesses than the PMI published by the State Statistical Office (CSO). A PMI reading above 50 points indicates an increase in activity in the sector, below 50 points indicates a weakening.

By 8:15 GMT + 2, the Hong Kong stock index, the Hang Seng, increased 0.6%, while the Chinese Shanghai Composite rose 0.9%.

Among the growth leaders on the Hong Kong stock exchange are shares of the Chinese insurance company China Life Insurance Co. (+ 4%), Internet companies Meituan (+ 3%) and Tencent Holdings Ltd. (+ 2.5%).

The leaders of the fall are shares of the manufacturer of sun-protection glass Xinyi Solar Holdings Ltd. (-5.4%), electronics manufacturer Techtronic Industries Co. (-2.4%) and electric vehicle manufacturer BYD Co. (-2%).

Japan's NIKKEI 225 gained 1% by 8:25 GMT + 2.

The PMI in the industrial sector in Japan, calculated by the Japanese bank Jibun Bank, was revised to 52.7 points in August 2021 from 52.4 points previously announced. A month earlier, the indicator was at 53 points.

Yamaha Corp., a musical instrument and audio equipment maker, rallies 4.3%, and electronic component manufacturer Taiyo Yuden Co. - by 5%, camera manufacturer Nikon Corp. - by 4%.

Korean KOSPI added 0.1% by 8:30 GMT + 2.

South Korea's trade surplus narrowed to $ 1.67 billion in August 2021 from $ 3.65 billion in August last year, preliminary data from the country's ministry of trade, industry and energy showed. Exports increased by almost 40%, to $ 53.93 billion, imports - by 44%, to $ 51.56 billion.

For eight months of this year, the trade surplus grew to $ 21.74 billion from $ 18.12 billion last year.

Hyundai Motor shares gained 1.2%, while Samsung Electronics lost 0.1%.

Australian index S & P / ASX 200 by 8:45 GMT + 2 fell by 0.25%.

Australia's economy grew at the slowest pace in the last four quarters in the second quarter of 2021 - 0.7% qoq, data from the Australian Bureau of Statistics show. According to the revised data, in the first quarter, GDP increased by 1.9%.

Analysts on average had expected the country's economy to grow 0.5% in the second quarter.

Mining shares Mineral Resources Ltd. are down 4%, Fortescue Metals Group Ltd. are down 3% and Rio Tinto is down 2%.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.