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From Hong Kong to Seoul: an overview of Asian markets


August, 22 2024
watermark Economic news

Equity markets in the Asia-Pacific region (APR) mostly showed growth on Thursday. Investors analyze corporate reports and the results of the meeting of the Bank of Korea. The Shanghai Composite index in China fell 0.1%, while Hong Kong's Hang Seng rose 0.6%.


Xiaomi shares rose 8% after reporting a 38% increase in net profit and 32% increase in revenue. The capitalization of AIA Group also increased by 4.7% and Orient Overseas (International) Ltd. by 3.1%. At the same time, CSPC Pharmaceutical's securities fell by 12.9% due to weak financial results.


Japan's Nikkei 225 index rose 0.4%. The Japanese manufacturing PMI index stood at 49.5 points, remaining below 50 points for two consecutive months, indicating a decrease in activity. However, the PMI for the services sector rose to 54 points, which is the highest value since April. As part of the Nikkei 225, Mercari shares showed the largest increase (+7.8%).


The Kospi index in South Korea remained almost at the same level. The Bank of Korea maintained its base interest rate at 3.5% per annum and lowered its GDP growth forecast to 2.4%. In Australia, the S&P/ASX 200 index increased by 0.3%, while the PMI in the manufacturing industry was 48.7 points, and for the services sector — 52.2 points. BHP and Rio Tinto shares also showed small increases.


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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.