Rising trends in Asia, despite concerns about the global economy

Uptrends are mostly recorded in the Asia-Pacific stock markets on Tuesday, with investors weighing the web of financial concerns that permeates international markets.

On the board, the Japanese Nikkei closed with a rise of 0.66%, to 27,049.47 points, with the South Korean KOSPI to gain 0.68%, while in Hong Kong, the Hang Seng records an increase of 0.77%. In mainland China, the Shanghai gains 0.82%, while o Shenzen records gains of 0.60%. In Taiwan, the Taiwan Weighted closed with a drop of 0.70%, while in Australia the S & P / ASX 200 completed the session with gains of 0.86%.

Technology investor Prosus will sell most of its stake in Tencent to fund its own and its parent company Naspers, the Dutch company announced on Monday. Tencent shares fall in Hong Kong by 4.81%.

In corporate developments, Trip.com reported a net loss of 989 million Chinese yuan ($ 147.79 million) for the first quarter of 2022, following the closure of US markets.

The company said in a press release that the results reflect restrictions due to Covid-19 and the disruption they have caused in China. Trip.com shares in the US were down 1.51% post-conference.

Weilong Delicious, a Chinese snack company, has revived its path to an Initial Public Offering in Hong Kong and could be listed on the stock exchange in the second half of 2022.

The Bloomberg news agency reported that the company released a preliminary brochure on Monday, and estimated that through the process it could attract funds of the order of 500 million euros.

“There is a clear lack of confidence on the part of investors, with low trading volumes in a tired market, with large losses expected in the current quarter, despite the significant gains recorded last week,” wrote Rodrigo Catril, a monetary strategist at National Bank, in a note on Tuesday.

“Investors continue to fear rallies in the bear market and can not easily shake off fears of a recession in the US,” said analysts at DBS Group Research.