Asia-Pacific shares mixed; Hang Seng traded lower

Asia-Pacific shares traded mixed on Monday’s session, with the Hong Kong stocks in the negative territory. The Hang Seng index lost 0.77% to the 20,045.77 mark, notably dragged by the technology companies.

For instance, Alibaba dropped 4.41% to HKD 88.80 per share. At the same time, plummeted 3.26% to HKD 237.40 apiece in the final hour of trade. Moreover, Tencent slipped 2.67% to HKD 299.40.

In contrast, Hong Kong’s Cathay Pacific Airways increased 1.42% to HKD 8.59. This upturn came after officials announced that hotel quarantine for travelers would ease to three days from seven days. However, there would still be a four-day surveillance period after the quarantine.

In mainland China, the Shanghai Composite index inched up 0.31% to the 3,236.93 mark. Then, the Shenzhen Component benchmark rose 0.27% to the 12,302.15 level, adding gains to the Asia-Pacific stocks.

Over the weekend, Beijing reported trade data for July, indicating that dollar-denominated exports grew 18.00% compared to a year ago. This jump marked the fastest pace of growth this year, beating analysts’ expectations for a 15.00% increase.

Similarly, South Korea’s KOSPI posted an upturn in the Asia-Pacific stocks. The index added 0.09% to the 2,493.10 mark. Meanwhile, Kosdaq Composite 0.09% to 830.86.

Asia-Pacific stocks; Nikkei 225 up

Meanwhile, Japanese stocks contributed gains among significant benchmarks in the Asia-Pacific. The Nikkei 225 ticked up 0.26% to the 28,249.24 level. At the same time, the TOPIX advanced 0.22% to the 1,951.41 mark.

SoftBank shares were 0.74% higher to JPY 5,695.00 per share. The tech company’s Vision Fund posted a JPY 2.93 trillion loss for the June quarter.

Correspondingly, the tech giant’s overall net loss for the quarter was JPY 3.16 trillion. This came in higher from a JPY 761.50 billion profit a year ago.

Furthermore, MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.40% to the 524.25 mark.

User Review
0 (0 votes)


Leave a Reply