Stock markets in the Asia-Pacific region are looking for direction at the beginning of the week, presenting mixed signs against the background of the economic data announced over the weekend in China and the resurgence of coronavirus cases in the country.
In particular, the profits of industrial enterprises in China increased by 5% in January-February compared to a year earlier, according to data released on Sunday.
At the same time, investors are expecting signs of a easing of monetary policy by the Chinese authorities amid concerns about the further dynamics of the economic recovery, as the country is facing the worst wave of the pandemic since early 2020.
In this climate, at Hong Kong Hang Seng in Hong Kong strengthened by 1.3%, while Hang Seng Tech recorded a “jump” of 3% with a boost from the rally of Meituan gaining more than 14%, while Tencent climbed by 3.8%.
Meituan announced better-than-expected revenue for the fourth quarter of 2021 on Friday. The company’s revenue was 49.52 billion yuan ($ 7.78 billion), exceeding analysts’ expectations for revenue of 49 , 2 billion yuan, according to data from Refinitiv Eikon.
However, some shares of the technology industry are falling: Xiaomi is losing 0.28%, while JD.com is losing 2%.
In ChinaShanghai Composite recorded small losses of 0.13%, while Shenzhen slipped by 1.06%.
In Japan, the Nikkei 225 lost 0.47%, while the Topix fell 0.13%. In South Korea Kospi adds 0.13%.
In Australia, the S & P / ASX 200 index gains 0.2%. The Straits Times index Singapore also increased by 0.35%.
Source: Capital
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