Asia-Pacific Stock Indexes Finish Mostly Higher; Hang Seng Tumbles 1.5% as China Tech Crackdown Continues

The major Asia-Pacific stock indexes finished mixed on Monday with shares in Hong Kong taking a more than 1.5% hit following a Financial Times Report that Beijing wants to break up Ant Group’s Alipay and force the creation of separate loans app.

Shares in China manage to eke out a small gain despite a sharp drop in Chinese electric vehicles stocks, which fell after the country’s industry minister said consolidation in the sector is needed as there are “too many” EV makers in China. BYD dropped 2.14% while Xpeng slipped 2.35%, CNBC reported.

Cash Market Recap

Gains in China were also capped by a 34.57% plunge in shares of Chinese property developer Soho China after a takeover deal by Blackstone Group fell through. Soho China said in a filing on Friday that Blackstone has decided not to go through with its $3 billion bid to buy the developer.

In the cash market on Monday, Japan’s Nikkei 225 Index settled at 30447.37, up 65.53 or +0.22%. Hong Kong’s Hang Seng Index finished at 25813.81, down 392.10 or -1.5% and South Korea’s KOSPI Index closed at 3127.86, up 2.10 or -0.07%.

In China, the benchmark Shanghai Index settled at 3715.37, up 12.26 or +0.33% and in Australia, the benchmark S&P/ASX 200 Index finished at 7425.20, up 18.60 or +0.25%.

Hong Kong Shares Drop, Dragged Lower by Tech on Latest Crackdown

Hong Kong shares finished down on Monday, dragged lower by internet giants following a slew of moves by Beijing to crack down on the country’s technology sector, Reuters reported. Shares of tech giants Meituan, Alibaba Group and Tencent Holdings dropped 4.5%, 4.2% and 2.5%, respectively.

The latest moves in Beijing’s crackdown include telling delivery and ride-hailing firms to better protect workers, breaking up Ant’s Alipay and forcing creation of separate loans app, and telling internet giants to stop blocking each other’s website links from their platforms.

China’s Blue-Chips End Lower as Lending Data Disappoints

Chinese blue-chips ended lower on Monday, dragged down by semiconductors and tourism stocks, after official data showed new bank lending in Beijing rose less than expected last month, while Shanghai shares closed higher. Chinese banks extended 1.22 trillion yuan in new yuan loans in August, up from July but falling short of analysts’ expectations.

Aussie Shares Gain on Boost from Sydney Airport, Energy and Materials Stocks

Australian shares rose on Monday, boosted by airport operator Sydney Airport Holdings surging on an improved takeover bid and solid gains in the energy and material stocks.

Sydney Airport Holdings advanced as much as 5.1% to its highest in over a year after bidder Sydney Aviation Alliance increased its offer price to A$8.75 from prior proposals at A$8.45 and A$8.25, to acquire all shares in the airport operator.

Energy stocks rose 1.25% after oil prices hit a one-week high on concerns over U.S. supplies, along with higher demand hopes.

Major miners rose 1.06% led by lithium-boron supplier Ioneer Ltd, up 7.58%, followed by lithium miner Pilbara Minerals Ltd, gaining 7.32%.

Source link

0 0 votes
Article Rating

Notifier de
0 Commentaires
Commentaires en ligne
Afficher tous les commentaires
Reset Password

Avertissement sur les risques :

Le trading peut vous exposer à des risques de pertes supérieures aux dépôts et ne convient qu’à une clientèle avisée ayant les moyens financiers de supporter un tel risque. Les CFD sont des instruments complexes et présentent un risque élevé de perte rapide en capital en raison de l’effet de levier. Entre 74 et 89% des comptes de clients de détail perdent de l’argent lors de la négociation de CFD. Vous devez vous assurer que vous comprenez comment les CFD fonctionnent et que vous pouvez vous permettre de prendre le risque élevé de perdre votre argent. Ce site n’est en aucun cas une offre de conseil en investissement ni une incitation quelconque à acheter ou vendre des instruments financiers. Trader le Forex et/ou les CFD’s implique un niveau de risque élevé, et peut ne pas être approprié car vous pouvez subir des pertes supérieures à votre dépôt. L’effet de levier peut être en votre défaveur.

Vous devez être conscient et avoir une compréhension complète de tous les risques associés au marché et au trading. Le site peut être amené à produire des commentaires d’ordre général, ce qui ne constitue pas des conseils en investissement et ne doit pas être interprété comme tel.

Veuillez recourir aux conseils d’un conseiller financier extérieur. Le site décline toute responsabilité pour les erreurs, inexactitudes ou omissions et ne garantit pas l’exactitude ou le caractère complet des informations, textes, graphiques, liens ou autres éléments contenus dans cette documentation. Toute information et toute mise à disposition sur le site ont un caractère privé.