Fri, August 19, 2022

Stocks: Asia-Pacific region on November 22

Stock markets on Friday

On Friday, problems connected with the U.S-China trade war affected the stocks in Asia.

Last week stock markets across the Asia-Pacific region experienced problems as investors tried to digest the information regarding the trade war.

On November 21, according to the media outlet, Chinese Vice Premier Liu He invited U.S. officials to China. The purpose of this meeting between the delegations is to discuss the details.

Stocks on FridayAsian stocks on Friday

On November 22, mainland Chinese stocks declined. For example, the Shanghai composite fell by 0.63% to about 2,885.29.

The Shenzhen Composite declined by 1.454% to around 1,607.51. The Shenzhen component fell by 1.51% to 9,626.90.

Meanwhile, in Hong Kong, the Hang Seng index rose by 0.3% during the final hour of trading.

However, two major stock indexes in Japan strengthened their positions. The Nikkei 225 index rose by 0.32% and is close to 23,112.88. Another local index, which is Topix, increased by 0.12% and finished the trading day at 1,691.34.

Last Friday, shares of the world-famous gaming company Nintendo declined by 3.51%. The American investment bank Morgan Stanley downgraded the stock from equal-weight to overweight.

South Korea’s Kospi index fell by 0.26% to 2,101.96. South Korea is one of the most developed countries in the region.

In the Asia Pacific region, Australia’s S&P/ASX 200 index gained 0.55%, and by the end of the day, the index stood at 6,709.80.

On November 22, the shares of Westpac decreased by 1.5%. Westpac Banking Corporation is a bank from Australia which offers financial services. The headquarters of this bank is located in Sydney.

The major reason which affected the shares of the Australian bank is the decision of Goldman Sachs.

Goldman Sachs reduced the price for the stock by 10%. During the last week, Westpac’s stock started to decline due to problems connected with Australian authorities.

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