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asia-pacific stocks

Asia-Pacific Stocks Mixed; JD.com, Netease Shares Hiked

On Monday, Asia-Pacific stocks grappled for direction as shares of JD.com and Netease climbed on the announcement of their Hang Seng index inclusion.

Subsequently, e-commerce giant JD.com surged 1.93% or 0.87 points to $6.80 per share. 

Similarly, video gaming company Netease boosted 3.02% or 0.69 points to $23.67 per share. 

On Friday night, the compiler of Hong Kong’s benchmark Hang Seng announced their addition to the latest quarterly review, effective on December 6. 

Accordingly, this move came after it avoided internet companies targeted by Chinese regulators.

Since July, the tightened scrutiny on antitrust, cybersecurity, and data usage hit the internet stocks heavily, driving away investors. 

In addition, it also posted the incorporation of consumer stock China Resources Beer and major Chinese natural gas distributor ENN Energy Holdings. 

Consequently, this would broaden the Hang Seng index’s coverage to 64 firms from the current 60. 

However, the index reported a decline in the Asia-Pacific stocks today. It decreased 0.35% or 87.86 points to $24,962.11 per share. 

Overall, it plummeted 8.00% this year, making it one of the world’s worst performers. 

Meanwhile, the Hang Seng China Enterprise index removed the embattled property developer China Evergrande from its list. 

Accordingly, it declined 0.37% or 32.76 points to $8,937.91 per share, while the cash-strapped firm lost 1.44% or 0.01 points to $0.35 per share. 

Moreover, mainland Chinese shares posted gains on the Asia-Pacific stocks as the People’s Bank of China unchanged its prime loan rate of 3.85%. 

Then, the Shanghai Composite index rose 0.65% or 23.00 points to $3,583.37 per share. 

Likewise, the benchmark Shenzhen Component improved 1.16% or 171.25 points to $14,923.74 per share. 

KOSPI Gained 1.24% as Asia-Pacific Stocks Mixed

At the same time, South Korea’s KOSPI gained 1.24% or 36.87 points to $3,007.68 per share. 

Remarkably, industry heavyweight Samsung Electronics surged 5.06% or 3.03 points to $63.03 per share. 

In Japan, the Nikkei 225 index advanced 0.12% or 37.12 points to $29,782.99 per share. 

Correspondingly, the TOPIX index shed 0.01% or 0.14 points to $2,044.39 per share. 

Elsewhere, Singapore’s Straits Times index widened 0.19% or 6.28 points to $3,237.64 per share. 

In Australia, the S&P/ASX 200 index tumbled 0.59% or 43.40 points to $7,353.10 per share. 

Furthermore, the MSCI’s broadest index of Asia-Pacific stocks outside Japan weakened 0.13% or 0.83 points to $647.67 per share.  

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