Asian stock markets closed with no single signal, but mostly lower, this Friday (10th).
China recorded gains, on the day of publication of inflation data in the country, while Tokyo had a fall.
In China, the Shanghai Stock Exchange closed up 1.42%, at 3,284.83 points, and the smaller one in Shenzhen, up 1.94%, at 2,085.31 points. Sentiment was better in Chinese markets, with signs that Beijing could act to stabilize growth.
Shares in automakers and consumer-linked rallies rose, supported by the prospect of stronger demand. BYD was up 8.2% and SAIC Motor was up 2.6%, while Three Sqhirrels was up 0.5%.
On the indicator agenda, China’s consumer price index (CPI) rose 2.1% in May, year-on-year, below the forecast of a 2.2% rise by analysts surveyed by the Wall Street Journal.
The producer price index (PPI) increased 6.4% in May compared to the same month last year, above expectations of a 6.3% rise. Pantheon saw consumer inflation as “encouraging” with no sign that the reopening has caused an inflationary spike.
In Tokyo, the Nikkei index ended down 1.49% at 27,824.29 points. Stocks in microchip-related companies have come under pressure in the Japanese market amid concerns about higher costs and slower growth. Lasertec was down 4.8% and Advantest was down 4.2%.
Investors were still waiting for the US consumer price index (CPI) later and its implications for the Federal Reserve’s monetary policy.
In South Korea, the Kospi index fell 1.13% to 2,595.87 points, the fourth consecutive drop and down 2.8% for the week. Electronics and airline stocks pulled lower on the day, with sentiment depressed after the country posted its first current account deficit in two years in April.
Samsung Electronics was down 2.2% and airline Jeju Air was down 5.7%, with flights to China threatened after Shanghai returned to lockdowns for massive testing in some districts of the city.
In Hong Kong, the Hang Seng index dropped 0.29% to 21,806.18 points. In Taiwan, the Taiex fell 0.97% to 16,460.12 points.
Oceania
In Oceania, the S&P/ASX 200 index closed down 1.25% at 6,932.00 points. The Sydney Stock Exchange had its worst week since April 2020, down 4.2%, amid concerns about inflation around the world. All 11 sectors of the local market fell, including the financial and energy sectors.
Source: CNN Brasil
