Stock Market

Stock Asia is trading in a minor

Today, China’s stock indices are falling like other Asian indicators, despite strong statistics.
The pace of growth in retail sales and industrial production in China in August accelerated compared to July and turned out to be better than analysts’ forecasts.

The volume of retail sales in the country increased by 5.4% compared to August last year, data from the National Bureau of Statistics (GSO) of China showed. Experts on average expected the figure to increase by 3.5%, according to Trading Economics. In July, it rose by 2.7%.

China’s industrial production growth accelerated to 4.2% last month from 3.8% in July. Analysts’ consensus forecast for this indicator was for a rise of 3.8%.

Unemployment in China in August fell to the lowest since January 5.3% compared to 5.4% in July.

China’s Shanghai Composite fell 1.43% by 8:23 am Moscow time, while Hong Kong’s Hang Seng lost 0.48%.

The shares of the energy company China Shenhua Energy Co. have fallen most significantly on the Hong Kong Stock Exchange. Ltd. (-4.7%), developer Country Garden Holdings Co. Ltd. (-3.8%) and IT company Baidu (NASDAQ:BIDU) Inc. (-2.9%).

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Meanwhile, shares of video surveillance equipment supplier Hangzhou Hikvision Digital Technology Co. are up 4.4% in Shenzhen trading after the announcement of the launch of a 2 billion yuan ($285.9 million) share buyback.

The value of the Japanese index Nikkei 225 fell by 1% by 8:25 Moscow time.

Among the leaders of the decline are stock quotes of logistics Nippon Express Holdings Inc. (-4.7%) and Kawasaki Kisen Kaisha Ltd. (-4.6%), as well as electronics manufacturer Tokyo Electron Ltd. (TYO:8035) (-3.9%).

The value of the South Korean index Kospi by 8:39 Moscow time decreased by 0.98%.

Shares of one of the world’s largest manufacturers of consumer electronics LG Electronics Inc. shed 1.9%, while rival Samsung Electronics Co. (KS:005930) rise in price by 0.2%.

The Australian S&P/ASX 200 fell 1.37% by 8:39 Moscow time.

The market value of the world’s largest mining companies BHP and Rio Tinto (LON:RIO) falls by 2.1% and 2.4% respectively. Oil companies Woodside Energy and Santos (ASX:STO) lost 3.4% and 2.8%.

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