- Wednesday, October 16, 2024
The Asia-Pacific region experienced overall growth in stocks on Monday, Nov. 6. Shares in Japan increased for the fourth consecutive day, while the Hong Kong market saw gains for three consecutive days.
Hong Kong Market on the Rise
The Hang Seng Index (HSI) of Hong Kong companies added 1.7% to 17,966.59. This positive trend indicates a steady increase in the market.
Japanese Companies Show Strong Performance
The Nikkei 225 Index of Japanese companies gained 2.4% to reach 32,708.48. This substantial increase highlights the positive performance of Japanese stocks.
Positive Outlook for Chinese Companies
The Shanghai Composite Index of Chinese companies experienced a growth of 0.9% and reached 3,058.41. This demonstrates a positive outlook for the Chinese market.
Singapore's FTSE Straits Times Index on the Upswing
Singapore's FTSE Straits Times Index witnessed a 0.9% increase, reaching 3,172.21. This growth suggests a promising market trajectory for Singaporean stocks.
South Korean Stocks Demonstrate Strong Performance
The KOSPI Composite Index of South Korean stocks saw an impressive gain of 5.7% and reached 2,502.37. This upward trend showcases robust performance in the South Korean market.
Australian Stock Market Shows Modest Growth
Australia's S&P/ASX 200 Benchmark Index experienced a slight 0.3% increase to reach 6,997.40. Although modest, this growth signifies a positive overall performance of Australian stocks.
Notable Performances of Nikkei 225 Index Components
Within the Nikkei 225 Index constituents, Sumitomo Electric Inds, a motor vehicle parts company (5802), witnessed the largest increase on Monday, as its shares soared by 11.4%. Additionally, shares of industrial electronics firm Minebea Mitsumi (6479) and semiconductors company Renesas Electronics (6723) gained 9.8% and 8.9% respectively.
Mixed Performances in Japan
On the other hand, marine freight company Kawasaki Kisen Kaisha (9107) saw the largest decline on Monday, as its shares tumbled 11.4%. Similarly, shares of aquaculture firm Nissui (1332) and marine transport company Nippon Yusen (9101) declined by 7.7% and 5.0% respectively.
Notable Performances of Hang Seng Index Components
Among the Hang Seng Index constituents, China Resources Beer Holdings (291), an alcoholic beverages/drinks company, witnessed the largest increase on Monday, as its shares grew by 6.6%. Furthermore, shares of building construction firm Longfor Group Holdings (960) and pharmaceuticals company Sino Biopharmaceutical (1177) increased by 5.9% and 5.7% respectively.
Decline in Hong Kong Market
Despite overall growth in the Hang Seng Index, shares of PetroChina (857), an integrated oil/gas company, experienced the largest decline in Hong Kong, weakening by 3.4% on Monday. Similarly, shares of marine transport firm Orient Overseas Intl (316) and coal mining company China Shenhua Energy (1088) declined by 3.4% and 3.1% respectively.
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