Positive signs in Asia – Profits over 1% in Japan

The main Asian stock markets are moving with positive signs on Tuesday after new record set by the S&P 500 at yesterday’s closing of Wall Street.

In particular, the Japanese Nikkei 225 leads in profits with an increase of 1.37% while in Hong Kong, the Hang Seng adds 0.35%.

Hong Kong-listed Chinese tech stocks fell sharply, with Tencent down 2.87% and Meituan down 2.21%. Alibaba’s share, on the other hand, is up 0.44%.

The drop in shares comes after the Financial Times reported that Didi forbade indefinitely to its employees to sell their shares. Meanwhile, uncertainty remains about the prospects of Chinese companies seeking to pursue IPOs abroad.

In mainland China, the Shanghai composite and Shenzhen component gain 0.35% and 0.62% respectively. In South Korea, the Kospi moves upwards by 0.69%.

It is noted that Markets in Australia are closed due to public holidays.

At the macro of the day, the factory production of Japan It grew at the fastest pace in its history as easing supply problems helped boost car production from the recent downturn, raising the prospect of a strong recovery in the fourth quarter.

But while improved manufacturing conditions provide some relief for policymakers, persistent global supply shortages and new risks from Omicron are expected to overshadow the prospects for the world’s third-largest economy.

Factory output rose 7.2% in November from the previous month, the biggest increase since 2013, when the first comparable data became available, thanks to increased production of motor vehicles and plastic products.

This means that production increased for the second consecutive month after 1.8% in October, and recorded a faster growth than the 4.8% expected.