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by Martin on October 11th, 2021

Asian Equity Markets Start New Week In Major

Equity markets in the Asia-Pacific region are trading mostly in the green today, despite continued concerns about the energy crisis in some countries and the continued spread of coronavirus infection in the region. The energy crisis continues in China and India, which are facing widespread power outages that further distress global supply chains. At the same time, China is spontaneously increasing coal production to ensure uninterrupted electricity supplies.

South Korean exchanges are closed today due to national holidays in the country.

The Hong Kong Hang Seng index by 8:44 rose by 2.01%, the Chinese Shanghai Composite – by 0.17%. The leaders of growth on the Hong Kong stock exchange are shares of companies in the tech sector. Zhang Jun, Dean of the School of Economics at Fudan University, told the CNA news agency on Sunday that tech companies will continue to strengthen their positions in China and international markets.

Internet giant Alibaba (NYSE: BABA) Group Holding Ltd. growing by 9.4%, its competitor Meituan – by 9.2%, another representative of the industry Tencent Holdings Ltd. – by 3%. Shares of Chinese automakers BYD Co. Ltd. and Geely Automobile Holdings Ltd. add 4.7% and 2.5%, respectively.

The economic arm of China’s Xinhua news agency, Shanghai Securities News, reported that real estate investment fell 44% in September amid debt problems from Chinese developers. At the same time, as noted, these investments were redirected to the financial sector.

In Hong Kong, shares of developer China Resources Land Ltd. are falling. (-2.4%), Country Garden Holdings Co. Ltd. (-1.9%) and Henderson Land Development Co. Ltd. (-1.6%). At the same time, the shares of China Merchants Bank Co. Ltd. and China Life Insurance Co. Ltd. grow in price by 5.5% and 2.4%, respectively. Japanese Nikkei 225k added 1.45%.

Japan’s New Prime Minister Comes With Speech

The new Prime Minister of Japan, Fumio Kishida, said in his keynote speech that he had no plans to raise taxes on income from investments and dividends, which reassured many traders actively investing in Japanese companies.

In the Japanese market, shares of technological Panasonic Corp. are actively growing. (T: 6752) (+ 6.2%) and Sony Group Corp. (+ 4.3%), automakers Nissan Motor Co. Ltd. (+ 5.8%) and Mitsubishi Motors Corp. (+ 5.6%), and investment group SoftBank Group Corp. (T: 9984) (+ 4.9%).

Australian S & P / ASX 200 opened the week in the red and dropped 0.4% by 8:30. Mining Shares Fortescue Metals Group Ltd. add 5.3%, Rio Tinto (LON: RIO) Ltd. – 2%, BHP Group Ltd. – 1%.

By Martin

Martin is a professional trader with 3 years of working experience in a Cyprus-based brokerage. After the experience, he moved to the UK where he became a financial news reporter at a local news outlet. His years of trading experience help him deliver the most quality news, while also analyzing its impacts on various markets.

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