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Stocks in the Asia-Pacific Region: Mixed Performances

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Andrew R. Michaud

• February 05, 2024

Japanese Market Shows Continuous Growth

The Asia-Pacific region witnessed a mix of performances on Monday, February 5. While the Japanese market experienced a second day of increases, shares in Hong Kong declined for the second consecutive day.

The Hang Seng Index (HK:HSI) of Hong Kong companies dropped by 0.2% to 15,510.01. Conversely, the Nikkei 225 Index (JP:NIK) of Japanese companies gained 0.5% and reached 36,354.16.

Diverse Performances in Other Markets

China's Shanghai Composite Index (CN:SHCOMP) declined by 1.0% to 2,702.19, while The FTSE Straits Times Index (SG:STI) of Singapore stocks fell by 1.5% to 3,130.88. South Korea's KOSPI Composite Index (KR:180721) also experienced a decline of 0.9% and reached 2,591.31. Additionally, Australia's S&P/ASX 200 Benchmark Index (AU:XJO) dropped by 1.0% to 7,625.90.

Significant Moves in Hong Kong Companies

Among the Hang Seng Index constituents, medical laboratory services company WuXi AppTec (HK:2359) witnessed the largest increase on Monday, with shares gaining 4.0%. Shares of biotechnology services firm Wuxi Biologics (Cayman) (HK:2269) and e-commerce company Meituan (HK:3690) also saw positive movements, increasing by 3.1% and 2.8% respectively. However, real estate services/transactions company Longfor Group Holdings (HK:960) experienced the largest decline in Hong Kong, as shares dropped by 4.1% on Monday. Similarly, shares of real estate services/transactions firm Hang Lung Properties (HK:101) and jewelry retailing company Chow Tai Fook Jewellery (HK:1929) declined by 3.7% and 3.3% respectively.

Noteworthy Developments in the Nikkei 225 Index

Within the Nikkei 225 Index constituents, computers/consumer electronics company Seiko Epson (JP:6724) saw the largest increase on Monday, as shares surged by 10.4%. Steel production firm Pacific Metals (JP:5541) and department stores company Isetan Mitsukoshi Hldgs (JP:3099) also experienced positive movements, gaining 7.2% and 6.6% respectively. On the other hand, chemicals company Sumitomo Chemical (JP:4005) witnessed the largest decline on Monday, with shares dropping by 7.0%. Additionally, shares of industrial electronics firm Minebea Mitsumi (JP:6479) and diversified holding companies company Toyota Tsusho (JP:8015) fell by 5.8% and 4.2% respectively.