02/02/2024 – 6:20
By Sergio Caldas*
São Paulo, 02/02/2024 – Asian stock markets closed without a single direction this Friday, with some of them advancing after the recovery on Wall Street and the Chinese stocks extending recent losses.
Leading gains in Asia, South Korea's Kospi index jumped 2.87% in Seoul to 2,615.31 points amid strong performance in automotive and internet stocks, while Japan's Nikkei rose 0.41% in Tokyo , at 36,158.02 points, and Taiex advanced 0.51% in Taiwan, at 18,059.93 points.
Yesterday, the New York stock exchanges rose 1% or more, with the help of shares from large technology companies, recovering from losses the day before, when the Federal Reserve (Fed, the US central bank) signaled that it should not start trading. cut interest rates in the short term.
In mainland China, on the other hand, the bad mood observed since the beginning of the week persisted today. The Shanghai Composite fell 1.46%, to 2,730.15 points, in its fifth consecutive session of losses, and the less comprehensive Shenzhen Composite had a significant drop of 2.99%, to 1,491.70 points. The day was also negative in Hong Kong, with a drop of 0.21% in the Hang Seng, at 15,533.56 points.
According to Maybank analyst Sonija Li, investors in China are likely reducing positions ahead of the Lunar New Year holiday, which will begin on February 9 and last for a week, as recent stimulus measures announced by Beijing were not enough to improve sentiment in the markets.
In Oceania, the Australian stock market also followed Wall Street, erasing the drop it had recorded in the previous session. The S&P/ASX 200 advanced 1.47% in Sydney, to 7,699.40 points, reaching an all-time high for the second time this week.
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*With information from Dow Jones Newswires
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