A mixed picture on the stock exchanges of the Asia-Pacific region with the investment interest focusing on the developments related to the coronavirus but also the increase of the yield of the American government bonds.
Although the Omicron mutation does not seem to be able to derail the dynamics of the global economic recovery, its rapid spread with a number of countries reporting negative pandemic records since the beginning of the pandemic and restricting mitigation measures, shortages in the supply chain , while the “train of terror” for rising inflation has not stopped.
The rise in US government bonds was a factor that pushed the technology sector in the US market last week, with the Nasdaq closing with heavy losses of 4.5% in 5 days. His performance 10-year US government bond strengthened on Friday by 3.6 bp. at 1.769%, while in the week it added 27.3 bp. at its biggest rise on a 5-day basis since September 2019, according to Dow Jones Market Data.
In this climate, in South Korea Kospi is down 0.95% at 2,926.72 points, while Kosdaq is down 1.49% at 980.38 points.
In mainland China Shanghai Composite returns 0.35% higher at 3,592.05 points and Shenzen adds 0.44% to 14,406.97 points.
In Japan the Nikkei 225 records marginal losses.
In Australia The key ASX 200 index recorded small losses of 0.08% at 7,447.1 points. The indices of energy and raw materials increased by 1.11% and 1.36% respectively. Shares of major mining companies rose: Rio Tinto rose 2.28%, Fortescue rose 1.33% and BHP rose 2.4%.
In the Hong Kong Hang Seng gained 0.86%, while Taiwan’s Taiex added 0.38% to 18,239.38 points.
Shares of China Life Insurance in Hong Kong are down 2.23%. Reuters reported that China’s Central Disciplinary Inspection Commission said on Saturday that it had investigated China Life President Wang Bin. The company’s share in Shanghai is losing 2%.
The Shimao Group recorded a rally with a “jump” of 20.43%, after an article in the Chinese newspaper Caixin states that the Real Estate Development Group is proceeding with the sale of all its projects, residential and commercial.
It is noted that on Thursday the Group defaulted on a loan, thus renewing concerns about the industry, following developments with Evergrande.
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I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
