Most Asian stock markets closed lower on Thursday (8), following the pace of New York as it ponders concerns about monetary tightening and a possible recession in the global economy.
On the other hand, the Hong Kong stock market rose more than 3% after local press vehicles said that the Chinese autonomous region government is considering relaxing its restrictions against Covid-19, after the central government of Beijing took decisions in this regard.
Hong Kong’s Hang Seng Index advanced 3.38% to 19,450.23 points, led by tech stocks — whose sub-index rose 6.6%. The Shanghai Composite had a low of 0.07%, at 3,197.35 points, while the less comprehensive Shenzhen Composite retreated by 0.32%, at 2,064.38 points.
Among other Asian markets, the South Korean Kospi closed with losses of 0.49%, at 2,371.08 points, and the Taiwanese Taiex dropped 0.53%, at 14,553.04 points. In Oceania, the Australian S&P/ASX 200 fell 0.75% to 7,175.50 points.
According to the newspaper Wen Wei PoHong Kong authorities are “analyzing the feasibility of relaxing several epidemic prevention measures”, after Beijing lifted some restrictions and relaxed others, decisions taken after a wave of protests against the strict Covid-zero policy.
The news boosted the Hong Kong stock exchange, with emphasis on shares in the technology sector, such as Netease (+7.99%) and Meituan (+6.45%).
Overall, however, the day was not positive for Asian markets, which reflected weak risk appetite in New York, fears of global monetary tightening and the ongoing economic slowdown, which could lead to a global recession. .
Next week, the Federal Reserve (Fed), European Central Bank (ECB) and Bank of England (BoE) announce decisions in which they should further tighten financial conditions in the US, euro zone and UK, respectively.
In Japan, investors followed the release of the final reading of the country’s Gross Domestic Product (GDP) in the third quarter, which fell by 0.2% compared to the second – a slightly better result than that presented in the previous reading. Tokyo’s Nikkei index ended the session down 0.40% at 27,574.43 points.
Source: CNN Brasil
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