Asia Mostly Rises But China Falters
Date
11/23/2024 6:41:40 AM
(MENAFN- Baystreet)
Asia-Pacific markets mostly rose Friday, tracking a rally on Wall Street that saw the S&P log gains for a fourth straight day.
In Japan, the NIKKEI 225 index restored 257.68 points, or 0.7%, to 38,283,85.
Investors in Asia also assessed Japan's October consumer price index data. The core inflation, excluding volatile fresh food prices, rose 2.3% from a year ago, slightly above the estimated 2.2%, according to analysts polled by Reuters. That's cooler than 2.4% in the previous month.
The overall CPI came in at 2.3%, versus 2.5% in September.
In Hong Kong, the Hang Seng Index dumped 371.14 points, or 1.9%, to 19,229.97.
Singapore third-quarter gross domestic product expanded 5.4% from a year ago, notably outpacing the revised 3.0% in the prior quarter. On a quarter-on-quarter basis, the economy grew by 3.2%, accelerating from the 0.5% in the second quarter, according to the Ministry of Trade and Industry.
Singapore also raised its projection of this year's economic growth to“around 3.5%,” from“2.0 to 3.0%”
CHINA
In Shanghai, the CSI 300 slumped 123.6 points, or 3.1%, to 3,865.70.
Investors might be taking a wait-and-see approach while awaiting clarity on U.S.-China tariffs, said one expert, who believed additional stimulus announcements from Beijing may not come until the next parliament meeting in March.
In other markets
In Taiwan, the Taiex recovered 348.66 points, or 1.6%, to 22,904.32.
In Korea, the Kospi index climbed 20.61 points, or 0.8%, to 2,501.24.
In Singapore, the Straits Times Index moved upward 6.8 points, or 0.2%, at 3,746.02.
In New Zealand, the NZX 50 charged ahead 276.66 points, or 2.2%, to 13,041.91
In Australia, the ASX 200 regained 70.89 points, or 0.9%, to 8,393.85
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