News

Stocks in the Asia-Pacific Region Display Mixed Performance

James L. Flint

• October 26, 2023

Stocks in the Asia-Pacific region experienced a generally negative trend on Thursday, October 26.

Declines in Hong Kong and Japan

The Hang Seng Index (HSI) of Hong Kong companies declined by 0.2% to reach 17,044.61. Similarly, the Nikkei 225 Index of Japanese companies experienced a sharp drop of 2.1%, closing at 30,601.78.

Mixed Performance in China and Singapore

China's Shanghai Composite Index managed to add 0.5% and finished at 2,988.30. Meanwhile, Singapore's FTSE Straits Times Index recorded a decline of 0.3%, settling at 3,069.86.

Decreases in South Korea and Australia

South Korea's KOSPI Composite Index encountered a significant decrease of 2.7%, ending at 2,299.08. In Australia, the S&P/ASX 200 Benchmark Index witnessed a drop of 0.6%, closing at 6,812.30.

Notable Movements Among Stocks in Japan

Within the Nikkei 225 Index constituents, Advantest Corp, a renowned semiconductor company (6857), experienced the most significant decline as its shares fell by 6.9%. Likewise, semiconductors firms SCREEN Holdings (7735) and Tokyo Electron (8035) saw their shares weaken by 5.6% and 5.0% respectively.

Not all market movements were negative in Japan, as multiutilities company Kansai Electric Power (9503) observed an increase of 1.6% in their share price. Similarly, electric power distribution firm Chubu Electric Power (9502) and electric power generation company Tokyo Electric Power (9501) gained 1.4% and 1.2% respectively.

Hong Kong Market Highlights

Within the Hang Seng Index constituents, Li Ning (2331), a sporting goods retailing company, witnessed the most significant drop as their shares cratered by 20.7%. Additionally, shares of sports clothing/footwear firm Anta Sports Products (2020) and rail passenger transport company MTR (66) also experienced declines of 5.3% and 4.4% respectively.

On a positive note, shares of renewable energy generation company China Resources Power (836) gained 4.1% in Hong Kong. Furthermore, meat processing firm WH Group (288) and sanitary paper products company Hengan International (1044) also added 3.7% and 3.2% respectively.