It was a positive day for Japanese as well as Chinese stocks. Let’s have a look at stocks in stocks in Asia-Pacific.
Japanese stocks strengthened their positions on September 18. For example, the Nikkei 225 gained 0.18% to end its trading at 23’360.30. Moreover, the Topix index added 0.49% to close at 1’646.42.
Interestingly, mainland Chinese stocks led gains among the region’s major markets. The Shanghai Composite added 2.07% to about 3’338.09. At the same time, the Shenzhen Component gained 1’766% to 13’245.09.
Moreover, Hong Kong’s Hang Seng index saw gains on the day.
South Korea’s Kospi index added 0.26% to close at 2’412.40.
However, Australia’s S&P/ASX 200 fell on Friday as it dropped 0.32% 5’864.50.
Importantly, the SoftBank Group saw its stock fell 1.09% on the day.
SoftBank Group will sell its entire stake in mobile services firm Brightstar. As a reminder, the current chief operating officer of SoftBank is the founder of Brightstar.
Shares of a Japanese company
Interestingly, shares of Sharp in Japan added 1.88%. People should take into account that the shares of the technology firms in Asia-Pacific traded mixed on September 18.
Unfortunately, in South Korea, industry heavyweight Samsung Electronics’s stock dropped 0.34% while Kakao added 0.54%.
Also, Hong Kong-listed shares of Chinese tech giant Tencent saw gains on the day.
Importantly, pressure seen in stocks of their counterparts from the U.S. affected shares of technology firms in Asia.
There are numerous factors that have the potential to affect stocks. One of them, is the coronavirus pandemic. The pandemic continues to influence stocks for more than six months. Unfortunately, the coronavirus pandemic is far from being over. Moreover, it is hard to determine how long it would take to deal with the pandemic. Investors are closely watching the situation. Government authorities should work with companies to minimize the damage caused by the ongoing crisis.