By Steffen Gosenheimer
TOKYO/HONG KONG (Dow Jones)–In the wake of the weak trend on Wall Street on Tuesday, the stock markets in East Asia and Australia continued to fall on Wednesday – but only moderately. The Nikkei index in Tokyo lost 0.3 percent to 32,212 points. The Chinese stock exchanges in Hong Kong and Shanghai are able to escape the downward trend and are recovering somewhat from recent losses of up to 0.6 percent. They are supported by new data on industrial profits in China, which show some improvement. In addition, traders are also talking about a more technical countermovement.
In addition to the still dominant stress factors of interest rates remaining elevated for a longer period of time and the threat of a budget freeze in the USA from October 1st, there were disappointing economic data in the USA the day before. In addition, oil prices are rising again, which is fueling concerns about inflation. Asian business is increasing by 1 percent.
Among the bigger losers in Tokyo are auto stocks, which are considered cyclical. Nissan loses 1.9 percent, Honda 1.7 percent, Mazda 1.7 percent and Subaru 1.2 percent. Toyota, on the other hand, is up 0.6 percent. For Oracle Corp. Japan is up 11.4 percent after posting a 14 percent rise in first-quarter profits.
In Hong Kong, CIFI Holdings collapsed by a good 53 percent. The investment company, which is heavily involved in the real estate sector, which is known to be struggling with severe financial problems, reported a loss for the first half of the year, after posting a profit a year ago. The courses of the Real Estate Stocks can now recover slightly after recent losses.
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Index (stock market) last +/- % % YTD end
S&P/ASX 200 (Sydney) 7,013.90 -0.3% -0.4% 08:00
Nikkei-225 (Tokyo) 32,212.28 -0.3% +25.2% 08:00
Kospi (Seoul) 2,454.32 -0.4% +9.7% 08:00
Shanghai Comp. 3,112.54 +0.3% +0.8% 09:00
Hang-Seng (Hongk.) 17,577.93 +0.6% -10.3% 10:00
Straits-Times (Sing.) 3,188.65 -0.8% -1.1% 11:00
KLCI (Malaysia) 1,440.22 -0.4% -3.5% 11:00
FOREX last +/- % 00:00 % YTD
EUR/USD 1.0559 -0.1% 1.0570 -1.4%
EUR/JPY 157.38 -0.1% 157.51 +12.1%
EUR/GBP 0.8697 +0.0% 0.8695 -1.7%
GBP/USD 1.2142 -0.1% 1.2157 +0.4%
USD/JPY 149.04 +0.0% 149.01 +13.7%
USD/KRW 1,351.60 -0.0% 1,352.22 +7.1%
USD/CNY 7.1857 +0.0% 7.1845 +4.2%
USD/CNH 7.3105 -0.0% 7.3108 +5.5%
USD/HKD 7.8206 -0.0% 7.8209 +0.1%
AUD/USD 0.6380 -0.3% 0.6398 -6.4%
NZD/USD 0.5926 -0.3% 0.5945 -6.7%
Bitcoin
BTC/USD 26,243.63 +0.3% 26,152.24 26,118.11 +58.1%
CRUDE OIL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 91.30 90.39 +1.0% +0.91 +15.3%
Brent/ICE 94.88 93.96 +1.0% +0.92 +15.6%
METALS last day previous +/- % +/- USD % YTD
Gold (spot) 1,898.15 1,900.75 -0.1% -2.61 +4.1%
Silver (spot) 22.74 22.88 -0.6% -0.14 -5.1%
Platinum (spot) 908.40 907.53 +0.1% +0.88 -14.9%
Copper future 3.64 3.65 -0.2% -0.01 -4.4%
YTD based on the closing price of the previous day
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DJG/DJN/gos/ros
(END) Dow Jones Newswires
September 27, 2023 00:39 ET (04:39 GMT)