Hong Kong shares led gains in Asia Pacific because investors looked ahead to the Fed’s meeting minutes, looking for signs of interest rate hikes.
Hong Kong’s hang Seng index rose 2.16%, with the hang sen tech index gaining more than 3%. Mainland China’s shanghai composite was marginally higher, while the Shenzhen component was 0.3% low.
Australia’s S&P rose by 1.46%, South Korea’s Kospi rose by 1.14%, and Kosdaq rose by 0.67%.
Nikkei 225 in Japan fell 1.42%, topix fell 1.02%. Investors have been looking ahead to the release of the U.S. job openings and labor turnover survey, better known as JOLTS, and minutes of the feds’ latest policy meeting set to come out in the afternoon, stateside.
Stocks on wall street got lower after giving up earlier gains on a concern of rising rates and increasing inflation.
Shares of Alibaba listed in Hong Kong have risen 7.11% in the Wednesday morning trade.
According to a notice posted last week, Chinese regulators gave the green light to billionaire Jack Ma’s financial tech firm to raise 10.5 billion yuan ($15 billion).
Ant group is an affiliate of Ali babas, of which the e-commerce giant owns 33%.
Ali babas shares rose 2.78% on tuesday.
Renewable energy costs have been increasing worldwide, which has increased investments in renewable energy.
Swiss international bank UBS named ten main renewable energy businesses earning on the trend and are in demand over the next year.
Tesla suppliers in Asia fell after it reported that its fourth-quarter vehicle production and delivery number for 2022 fell short of expectations.
405,278 total deliveries for the quarter, 1.31 million full deliveries for the year, lower than the expectation of 427,000 deliveries for the year’s final quarter.
Japan Panasonic lost 1.82% in early Asia trade- South Korean LG chem fell 0.17% in earlier hours.
Samsung lost 2%.
Shenzhen-listed shares of modern Amperex tech fell by 1.7%.
Shares of Tesla decreased 12% on Tuesday on Wall street. In Japan, AGC fell 0.23%and Murata manufacturing shed 1.08%.
- Published By Team Hongkong Journalist