Asian stock markets showed a mixed trend on October 29, 2024, with gains in Japan and Hong Kong, while China and South Korea registered slight losses. Here’s a closer look at the performance of key indices:
- Nikkei 225 (Japan): Japan’s Nikkei 225 index rose by 244.07 points, or 0.63%, closing at 38,849.60. The index’s performance signals positive momentum, with Japanese stocks continuing to attract investor interest amid a strong earnings season and stable economic indicators.
- Hang Seng (Hong Kong): The Hang Seng index climbed 116.14 points, or 0.56%, to 20,715.50. The gains in Hong Kong reflect a rebound in select sectors, even as the broader economic outlook remains uncertain. Investors appear optimistic on the back of some stabilization in property stocks and supportive government measures.
- KOSPI (South Korea): South Korea’s KOSPI index dipped slightly by 5.42 points, or 0.21%, to 2,607.01. This decline suggests that investor sentiment remains cautious, as concerns around global demand and geopolitical uncertainties weigh on the market.
- Shanghai Composite (China): The Shanghai Composite index fell by 8.44 points, or 0.25%, to 3,313.76. Chinese markets have faced pressure recently due to ongoing concerns over slower economic recovery and regulatory challenges in key sectors. The slight drop reflects persistent caution among investors as they await further policy support.
Overall, the mixed performance across major Asian markets reflects a balanced investor sentiment. While Japan and Hong Kong showed gains driven by domestic factors and sector-specific optimism, South Korea and China faced minor setbacks due to lingering concerns over growth and regulatory risks
