Chinese Stocks Demonstrated Their Strength on December 30

Stocks in Asia-Pacific were mixed on December 30 in spite of gains overnight on Wall Street. On December 29, the S&P 500, as well as the Dow Jones Industrial Average, reached great results. 

In Hong Kong, the Hang Seng index gained 0.11% to close at 23,112.01. 

Shares of SenseTime Group gained more than 4% from their issue price in early trading following their Thursday debut in Hong Kong. The company’s stock later extended those gains and finished its first trading day in Hong Kong 7.27% above its issue price. 

Tensions between China and the U.S. Several weeks ago affected its plans. Hence, it postponed its $767 million Hong Kong IPO after being placed on a U.S. investment blacklist. SenseTime Group said it remained committed to completing the offering and would publish a supplemental prospectus and an updated listing timetable. 

Mainland Chinese stocks rose on December 30. The Shanghai composite gained 0.62% to 3,619.19. The Shenzhen component advanced 0.972% to end its trading day at 14,796.23.

In Japan, the Nikkei 225 dropped 0.4% to close at 28,791.71. The Topix index fell 1.33% to 1,992.33.

South Korea’s Kospi declined 0.52% to finish its trading day at 2,977.65.

In Australia, the S&P/ASX 200 closed slightly higher at 7,513.40 on December 30. 

U.S. stocks on December 29

U.S. stocks were mixed on December 29. The S&P 500 added 0.14% to close at 4,793.06 -its 70th record close of 2021. The index closed at a record 28% of the time this year. 

 Moreover, the Dow Jones Industrial Average also demonstrated its strength on December 29. 

 It gained 90.42 points to 36,488.63. The index closed at a record for the first time in several weeks. The Nasdaq Composite fell 0.1% to 15,766.22.