Asia Gains On Economic Concerns| MENAFN.COM

Monday, 08 August 2022 04:45 GMT

Asia Gains On Economic Concerns


(MENAFN- Baystreet.ca) Asia Gains on Economic Concerns






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Shares in the Asia-Pacific region were higher on Tuesday as investors weighed economic concerns.
In Japan, the Nikkei 225 jumped 178.2 points, or 0.7%, to 27,049.47.
The Japanese yen traded at 135.73 per U.S. dollar, holding stronger than the 136 level
In Hong Kong, the Hang Seng index gathered 189.45 points, or 0.9%, to 22,418.97.
Technology investor Prosus NV will sell some of its stake in Tencent to fund a stock buyback of itself and parent Naspers, the Dutch firm said on Monday. Hang Seng heavyweight Tencent fell 4% in the last hour of trading.
The Australian dollar was at $0.6938.
CHINA
In Shanghai, the CSI 300 gained 46.26 points, or 1%, to 4,490.52.
In corporate news, Trip.com reported a net loss of 989 million Chinese yuan ($147.79 million U.S.) for the first quarter of 2022 after the U.S. market close.
The company said in a press release that its results were materially and adversely affected by COVID-19 disruptions in China. Trip.com's U.S.-listed shares fell 1.51% in after hours trade.
Weilong Delicious, a Chinese snack company, has reportedly revived its initial public offering in Hong Kong and could be listed in the second half of the year. Bloomberg reported that the company refiled a preliminary prospectus on Monday and that the company could raise $500 million.
In other markets
In Singapore, the Straits Times Index nicked up 2.67 points, or 0.1%, to 3,140.21.
In Taiwan, the Taiex index defied the positive tide, falling 108.09 points, or 0.7%, to 15,439.92.
In Korea, the Kospi gained 20.17 points, or 0.8%, to 2,422.09.
In Australia, the ASX 200 climbed 57.69 points, or 0.9%, to 6,763,64.
In New Zealand, the NZX gained 20.7 points, or 0.2%, to 11,018.62.










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