01/16/2024 – 5:58
By Sergio Caldas*
São Paulo, 01/16/2024 – Asian stock markets closed mostly lower this Tuesday, with losses led by Hong Kong and amid a possible technical correction in Japan after a recent rally.
The Hang Seng fell 2.16% in Hong Kong, to 15,865.92 points, pressured by the real estate sector sub-index, which suffered a 3.2% drop after disappointing sales results in 2023.
Elsewhere in Asia, the Nikkei fell 0.79% in Tokyo, to 35,619.18 points, in a likely technical correction after the Japanese index accumulated gains for six consecutive sessions and renewed highs in almost 34 years, while the South Korean Kospi fell 1.12% in Seoul, to 2,497.59 points, and Taiex fell 1.14% in Taiwan, to 17,346.87 points.
In mainland China, the Shanghai Composite index bucked the region's negative bias and rose 0.27% to 2,893.99 points, while the less comprehensive Shenzhen Composite was practically stable, with a marginal loss of 0.03% to 1,743.02 points.
Late tonight, Chinese Gross Domestic Product (GDP) figures for the fourth quarter of 2023 will be released, as well as monthly data on industrial production and retail sales.
In Oceania, the Australian stock market was also in the red, following weak local surveys on consumer confidence. The S&P/ASX 200 fell 1.09% in Sydney, to 7,414.80 points, its lowest level since December 14.
Contact: [email protected]
*With information from Dow Jones Newswires
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