Mon, October 03, 2022

Asian markets on Tuesday

Stock markets on December 10

On Tuesday, China’s National Bureau of Statistics released the data about Chinese consumer inflation. Based on data provided by the bureau, consumer inflation increased in November. This news affected the stock markets in Asia.

The Consumer Price index for November rose 4.5% year-on-year. In November, food prices skyrocketed 19.1% amid an outbreak of African swine fever.

However, producer prices in China fell in the same month. The Producer Price Index (PPI) for November declined by 1.4% year-on-year.

Stocks in AsiaStocks and China

Mainland Chinese stocks were able to recover from an earlier slip and finished the trading day higher. The Shanghai composite is slightly higher at about 2,917.32. On Tuesday, China Postal Savings Bank reached positive results in its Shanghai debut. Its shares increased by 2% on December 10.

The Shenzhen component gained 0.4% to 9,915.87. Meanwhile, the Shenzhen composite also added 0.384% to around 1,646.82.

In Hong Kong, the Hang Seng index finished its trading day by 0.22% lower at 26,436.62.

In Japan, the Nikkei 225 index declined slightly to close at 23,410.19. Another major Japanese stock index, which is Topix also fell on Tuesday. Its index declined to 1,720.77. Shares of game maker Nintendo jumped 2.86%. The company launched its switch console in China. This news had a positive impact on its shares.

South Korea’s Kospi added 0.45% to close at 2,098.00.

In Australia, the local index S&P/ASX 200 closed 0.34% lower at 6,706.90.

On Tuesday, the media reported that the U.S. is unlikely to impose additional tariffs on Chinese exports. U.S. agriculture secretary Sonny Perdue stated that he does not believe tariffs will be implemented after the deadline.

Starting from December 15, U.S. additional tariffs would affect Chinese goods. However, both sides are ready to avoid this possibility. The trade war is one of the biggest problems for the investors and stock markets in general.

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