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Asian Stock Markets Mixed; Hong Kong Closed on Typhoon Watch

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Last updated: 10/13/2021 06:49:25

06:49 AM EDT, 10/13/2021 (MT Newswires) -- Asian stock markets were mixed Wednesday as traders weighed inflation outlooks, global energy crunches and the soon-to-unfold earnings seasons across Asia. Hong Kong shut down on a typhoon alert, while Shanghai gained, but Tokyo lost ground. Other regional exchanges were mixed, with Bangkok closed on holiday.

In Japan, the Nikkei 225 opened lower on Wall Street cues, rallied, but could not hold onto gains and finished off 0.3% as traders awaited the monthly US consumer price index report from Washington.

Also undercutting sentiments, the International Monetary Fund reduced Japan's expected economic growth to 2.4% in 2021 from a 2.8% estimate made in July, due to the tenacious COVID-19 pandemic in Asia.

The benchmark Nikkei 225 fell 90.33 to 28,140.28, as losing issues outnumbered gainers 143 to 79.

In economic news, the value of machinery orders received by 280 Japanese manufacturers decreased by 7.8% in August from July, the Cabinet Office reported. Private-sector machinery orders, excluding the volatile ones for ships and those from electric power companies, declined a seasonally adjusted 2.4% in August from July.

The Hong Kong exchanges were closed Wednesday after city officials issued a typhoon alert.

The Shanghai Composite rose 0.4%, after Beijing reported strong trade figures for September.

China exports rose 28.1% year-over-year to $305.7 billion in September, reported China customs officials, as reported by AP News. Imports rose 17.6% to $240 billion in the same 12 months.

For the first nine months of 2021 exports rose 22.7% from 2020, while imports rose 22.6%, reported the state Xinhua news service, citing customs data.

On the other exchanges, the S. Korean Kospi rose 1.0%; the Taiwan TWSE declined 0.7%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index rose 1.4%. In late trading in Mumbai, the Sensex was up 0.8%.

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