Hang Seng Hits 11-Year Low| MENAFN.COM

Monday, 05 December 2022 02:46 GMT

Hang Seng Hits 11-Year Low

(MENAFN- Baystreet.ca) Hang Seng Hits 11-Year Low


Shares in the Asia-Pacific were mixed on Monday as markets enter the last quarter of the year.
The Nikkei 225 recovered 278.58 points, or 1.1%, to 26,215.79.
Sentiment of Japan's large manufacturers worsened in the July-to-September quarter, according to the Bank of Japan's latest quarterly tankan business sentiment survey.
The headline index for large manufacturers' sentiment came in at eight, a decline from the previous quarter's reading of nine. Economists polled by Reuters expected a print of 11.
In Hong Kong, the Hang Seng index staggered 143.32 points, or 0.8%, to 17,079.51, after reaching the lowest levels since October 2011, according to Refinitiv Eikon data
Brent crude futures and West Texas Intermediate futures jumped on reports of a possible OPEC+ supply cut.
Later in the week, Australia's central bank will announce its interest rate decision, while several countries in Asia will report inflation data.
A Reuters poll of economists expects the Reserve Bank of Australia to hike its benchmark interest rate by 50 basis points to 2.85%.
RBA's board members said the case for a slower pace of rate hikes was growing, according to minutes from its Sept. 6 meeting, when it raised its interest rate by 50 basis points.
In other markets
Markets in mainland China and South Korea were closed for holiday.
In Singapore, the Straits Times Index faded 23.15 points, or 0.7%, to 3,107.09.
In Taiwan, the Taiex removed 124.1 points, or 0.9%, to 13,300.48
In Australia, the ASX 200 deleted 17.33 points, or 0.3%, to 6,456.87.
In New Zealand, the NZX 50 dropped 106.26 points, or 1%, to 10,959.45.


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