Asian stock markets ended Tuesday (13) without a single signal.
Among major exchanges, Tokyo rose, with pharmaceuticals and shipping stocks supporting gains, but in Shanghai the picture was mildly negative, with chip makers among the pressured stocks.
On the Tokyo Stock Exchange, the Nikkei index closed up 0.40% at 27,954.85 points. There was expectation for the decision of the Federal Reserve (Fed, the American central bank) on Wednesday, with a probable increase in interest rates in the USA, and before that, this Tuesday, for the consumer price index (CPI, its acronym in English) American.
Among focus stocks, Takeda Pharmaceutical rose 2.7% and Nippon Yusen rose 2.2%.
In China, the Shanghai Stock Exchange recorded a drop of 0.09%, to 3,176.33 points, and the Shenzhen Stock Exchange, of lesser scope, fell 0.56%, to 2,145.01 points. The Chinese market was adjusting after recent gains motivated by the prospect of economic reopening.
Software and microchip companies weighed heavily in the market, with Yonyou Network Technology down 3.0% and Jinko Solar down 5.6%. According to reports, Japan and the Netherlands may team up with the US to restrict chip business with China. Meanwhile, Beijing turned to the World Trade Organization (WTO) to question US behavior on this front.
For the chief economist at TS Lombard, Rory Green, the Chinese stock market could enter a phase of risk flight in the coming weeks, as controls against Covid-19 are relaxed and cases of the disease jump. Down the road, though, there could be a more sustainable rally in that market, he believes.
In Hong Kong, the Hang Seng index closed up 0.68% at 19,596.20 points. Chipmakers and technology stocks fared well, with Hua Hong Semiconductor up 17.4% and Semiconductor Manufacturing International up 9.4%. Pharmaceuticals shares were under pressure.
In South Korea, the Kospi index ended down 0.03% in Seoul, at 2,372.40 points. Therefore, the situation was practically stable, after a volatile trading session.
Roles linked to games and automakers were among the casualties, while companies in the machinery and shipping sectors fared well. There was also caution ahead of the US CPI.
In the games sector, Ncsoft fell 8.0% amid concerns that its main global competitors release games simultaneously, which could hurt its results next year. In Taiwan, the Taiex index fell by 0.61%, to 14,522.96 points.
In Oceania, on the Sydney Stock Exchange, the S&P/ASX 200 index closed up 0.31%, at 7,203.30 points. Financial stocks advanced, recouping recent losses. Mining companies in general exhibited casualties.
Source: CNN Brasil
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