Most Asian-Pacific indices decline | Market Analysis
 

Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Most Asian-Pacific indices decline
07:46 2022-01-24 UTC--5
Exchange Rates analysis

Most of the Asian-Pacific indices are showing a decline. The Shanghai Composite and Shenzhen Composite index showed slight growth by 0.2% and 0.41%, while the Hang Seng Index lost 1.03%. The KOSPI was down by 1.46%, the S&P/ASX 200 dropped by 0.47%, and the Nikkei 225 has hardly changed since Friday.

Investors are refraining from taking risks, as they are waiting for the results of the US Federal Reserve's meeting, which will take place this week. According to analysts, we should expect the beginning of tightening of monetary policy and increase of interest rate as early as in March. All this contributes to the decrease of assets.

Another factor is statistical data from Japan, according to which the PMI index of business activity this month increased to 54.6 points from the December level of 54.3 points. At the same time, the indicator did not reach the level of 55 points forecasted by experts. Notably, the services sector of this indicator declined to 46.6 points from the December level of 52.5 points.

Pacific Metals Co., Ltd., SoftBank Group Corp., and Nissan Motor Co., Ltd. declined by 4.8%, 3%, and 2.3%, respectively, losing the most among components of the Japanese indicator.

Today, the People's Bank of China decided to allocate 150 billion yuan (equivalent to $31.4 billion) to support bank liquidity on the eve of preparations for the Chinese New Year. At the same time, it was decided to reduce the interest rate to 2.25% from 2.35% on a yearly basis.

Among the components of the Hang Seng Index, the biggest decline was shown by Alibaba Group Holding, Ltd. whose securities lost 5%, as well as Netease Inc. whose securities fell by 7%. Meanwhile, Meituan dropped by 1.7%, BYD Co. slid by 3%, and Xiaomi Corp. plummeted by 2,8%.

Following the fall of South Korea's KOSPI, Kia Corp. dropped by 1.6%, Hyundai Motor Co. declined by 2%, as well as Samsung Electronics Co. went down by 2.2% and LG Corp. fell by 3.5%.

Australian Regis Resources, Ltd. decreased by 15% due to the deterioration of the forecast for the current year. At the same time, Fortescue Metals dropped by 1.7%, Pilbara Minerals fell by 4.2%, and Lynas Rare Earth plummeted by 5.3%.

Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
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.
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.