Global Market News

China Outlook, Holiday Cap Asian Stock Markets


Last updated: 02/09/2024 05:49:51

05:49 AM EST, 02/09/2024 (MT Newswires) -- Asian stock markets were uneven in thin holiday trading Friday as traders weighed the outlook for China's economy and geopolitical tensions.

Hong Kong lost ground in a shortened day of trading, while Shanghai was closed on New Year holiday. Tokyo finished in the green, and other regional exchanges were shuttered or muted.

In Japan, the Nikkei 225 opened higher and held ground, finishing up 0.1% as a softer yen undergirded export issues.

The benchmark Nikkei 225 rose 34.14 to 36,897.42, striking a fresh 34-year high, although losing issues outnumbered gainers 136 to 87.

Leading the upside was electrical-equipment maker Fujikura, up 23.9% after reporting earnings, while video game-maker Nexon fell 11.7%, also after disclosing financial results.

In Hong Kong, the Hang Seng Index opened lower and could not recover, finishing off 0.8% as property and tech issues weakened. The Hong Kong exchange closed after its morning session.

The broad gauge Hang Seng fell 131.49 to 15,746.58, as losing issues outnumbered gainers 71 to 10. The Hang Seng TECH Index lost 1.3% on the day, while the Mainland Properties Index fell 3.1%.

Leading the upside was apparel house ANTA Sports Products, up 1.6%, while shipping line Orient Overseas International lost 8.5%.

On the mainland, exchanges were closed on holiday.

On the other regional exchanges that were open, the Australian ASX 200 inclined 0.1%, while the Singapore Straits Times Index and the Thai Set were flat. In late trading in Mumbai, the Sensex was up 0.2%.
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