Asian stock markets closed without a single signal on Wednesday, the 2nd, as investors digest corporate results around the globe. The talks come after Tuesday’s advances, with an eye on zero-covid policy in China, and awaiting the Federal Reserve’s monetary decision.
(Fed, the US central bank) on Wednesday.
On the Tokyo Stock Exchange, the Nikkei index closed down 0.06%, at 27,663.39 points. Stock price declines linked to the chemical and precision instruments sector outweighed gains in electronics and energy.
In a report, the Oxford Economis states that the post-war reopeninglockdowns in China and relative normalization helped Asian economies to perform better in the third quarter of the year. However, in the coming months, the negative factors should outweigh the positive ones, assesses the consultancy. These include weakening external demand, raising US rates above 4%, slowing China’s economy and “stubborn” domestic inflation.
In South Korea, the Kospi index closed up 0.07%, at 2,336.87 points, with purchases by foreigners having boosted the advance. In mainland China, the Shanghai Composite rose 1.15% on Wednesday to 3,003.37 points, and the less comprehensive Shenzhen Composite rose 1.33% to 1,968.20 points.
In Hong Kong, the Hang Seng index rose 2.41%, to 15,827.17 points, after having operated for only half the day.
Negotiations were suspended due to a typhoon alert in the city. Chinese property developers led the gains as the sector continued to recover from a punitive sell-off last month, amid mounting investor concerns over the area’s liquidity crisis.
Oceania
In Oceania, the S&P/ASX 200 index closed with a gain of 0.14% in Sydney, at 6,986.7 points.
*With information from Dow Jones Newswires
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