Sun, April 21, 2024

Mainland Chinese Stocks Declined While Japanese Stocks Rose

Stocks around the world

Stocks in Asia-Pacific were mixed on Tuesday. Meanwhile, the price of bitcoin surpassed a key level, and the Japanese yen’s sharp decline sparked alarm.

In Hong Kong, the Hang Seng index rose 0.91% in the last hour of trade, as casino and tech stocks rose. Among the biggest gainers on Tuesday was JD Health, which jumped more than 16%. Its shares rose after JD Health said on Monday it would conduct a share buyback of up to 3 billion Hong Kong dollars over a 24-hour period. 

Property shares defied the trend, as Sunac dropped around 18% and Shimao declined more than 9%. China’s CSI real estate index dropped 1.4%.

Sunac said on Monday it would halt trading from April 1, days after Sunac said it would delay reporting its 2021 financial results.

Mainland Chinese stocks on Tuesday

Mainland Chinese stocks fell on Tuesday. The Shanghai composite dropped 0.33% to end its trading day at 3,203.94.  The Shenzhen component fell 0.46% to close at 11,895.08. 

In Japan, the Nikkei 225 advanced 1.10% to finish its trading day at 28,252.42. The Topix gained 0.93% to 1,991.66. Tech stocks rose on Tuesday. Sony added 1.81% and SoftBank gained 1.89%.

In Australia, the S&P/ASX 200 advanced 0.7% to 7,464.30, as bank stocks rose. Nevertheless, some miners and oil stocks fell, defying the trend. 

South Korea’s Kospi gained 0.42% to end its trading day at 2,741.07.

Dow Jones on Monday

U.S. stocks rose on the first day of the week. The Dow Jones Industrial Average added 94.65 points to 34,955.89. The S&P 500 gained 0.7% to 4,575.52. It rose on Monday, prolonging two weeks of gains, as investors shook off recession concerns and bid tech shares higher.

The Nasdaq Composite advanced 1.3% to 14,354.90, thanks to an 8% jump in Tesla. The EV maker led technology shares higher after the company said it wants to split its stock to pay a stock dividend. 

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