Asian stock markets trade higher
Stock indices of the largest countries in the Asia-Pacific region (APR) are growing today. Investors are waiting for the publication of data on inflation in the US in August, which the country’s Department of Labor will publish today. Analysts surveyed by Trading Economics expect, on average, that the pace of consumer price growth in the United States slowed to 8.1% last month from 8.5% in July.
“There are a couple of reasons to be bullish in the medium to long term,” said Peter Azzinaro, chief investment officer of Convera. correction”.
Japan’s Nikkei 225 edged up 0.2%.
The growth leaders among the components of the index are shares of the manufacturer of game consoles Nintendo Co (TYO:7974). Ltd. (+5.2%), which rise in price on the news that sales of Splatoon 3 in Japan in the first three days after the launch broke a record and exceeded 3.45 million copies.
Sumitomo Metal Mining Co. shares are also actively growing in Tokyo. Ltd. (+4.3%) and Kawasaki Kisen Kaisha Ltd., a sea freight company. (+4.1%).
China’s Shanghai Composite added 0.3%, while Hong Kong’s Hang Seng edged up 0.4%.
Shares of electric vehicle manufacturer NIO Inc. jumped in price by 17.3% after Citi analysts confirmed the recommendation to “buy”, citing a report from consulting ThinkerCar. Analysts at ThinkerCar predicted NIO electric car sales to rise 63% year-on-year in August.
The growth leaders in Hong Kong are also shares of restaurant chain owner Haidilao International Holding Ltd. (+6.3%), meat producer WH Group Ltd. (+5.4%) and PC maker Lenovo Group Ltd. (+5%).
Meanwhile, paper biotech Wuxi Biologics (Cayman) Inc. fell by 18.4%. US President Joe Biden on Monday signed an executive order to support the country’s biopharmaceutical companies, raising concerns about Chinese companies’ competitiveness in the US market.
The South Korean Kospi index rises by 2.6% in the first trading after the holidays in the country on the occasion of the full moon day (autumn holiday Chuseok).
The growth of the index was mainly due to the rise in shares of electronics manufacturers Samsung Electronics (KS:005930) (+4.5%) and SK Hynix (KS:000660) (+3.9%).
The Australian S&P/ASX 200 rose 0.65%.
The market value of the casino and hotel operator Star Entertainment Group Ltd. increases by 3.6%, despite the fact that the Australian regulator ruled that the company cannot be licensed to operate a casino business. The NSW IC has yet to decide on a sanction for Star Entertainment.
Shares of medical Ramsay Health Care Ltd. fell 10% after a report that a consortium led by investment company KKR does not intend to increase the buyout offer Ramsay Health, which she refused earlier this year.