Asian stock markets closed mostly higher on Tuesday (7), as investor sentiment improved with the announcement of new measures to stimulate the Chinese real estate sector and news from the technology sector.
In mainland China, the Shanghai Composite index rose 0.29%, to 3,248.09 points, and the less comprehensive Shenzhen Composite advanced 0.36%, to 2,152.89 points.
Shares of developers led gains on Tuesday, after several major cities across the country relaxed rules to facilitate home purchases.
In Hong Kong, the Hang Seng was up 0.36% to 21,298.70 points, as Chinese internet giant Baidu jumped 15.33% after the company confirmed it would soon launch a chatbot similar to the ChatGPT, an artificial intelligence software specialized in dialogue that quickly became popular.
Elsewhere in Asia, South Korea’s Kospi advanced 0.55% in Seoul, at 2,451.71 points, and Taiex registered a marginal gain of 0.05% in Taiwan, at 15,400.91 points, while Japan’s Nikkei presented slight drop of 0.03% in Tokyo, at 27,685.47 points, amid speculation that the current vice-president of the Bank of Japan (BoJ), Masayoshi Amamiya, was appointed to assume the presidency of the institution.
Current BoJ President Haruhiko Kuroda’s term expires on April 8.
Risk appetite prevailed in the Asian region despite the New York stock exchanges having accumulated losses in the last two trading sessions, amid fears that the Federal Reserve (Fed, the US central bank) will have to keep interest rates high for longer than expected. imagined, given the solidity of the American labor market.
In Oceania, the Australian stock market was in the red after the country’s Central Bank, the RBA, raised its basic interest rate by 25 basis points, to 3.35%, and predicted more increases in the coming months.
The S&P/ASX 200 was down 0.46% in Sydney at 7,504.10 points.
Source: CNN Brasil
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.