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Asian Stocks Retreat – Inflation and Expected Changes

Asian stocks rallied on Thursday amid concerns and fears about inflation. Global central banks may be forced to raise rates. China’s Shanghai Composite Index fell to 3520.71, or 0.47 percent, to a total of 16.66 points. Country Garden Services Holdings and China Evergrande Group have released plans to raise funds.

The Hong Kong Hang Seng Index fell to 25,319.72, or 1.29 percent, to a total of 330.36 points. Baidu Inc. and Bilibili Inc. reported weak earnings; raising concerns about a slowdown in advertising revenue.

Japanese stocks fell; However, the day’s low level ended after the Nikkei Business Daily announced information about a more significant economic stimulus package than expected. The Nikkei average index at 29598.66 ended 0.30 percent with a total of 89.67 points. The Topix index fell 0.14 percent to 2035.52. Cyclical rallies caused damage. Nippon Yusen fell 4.4 percent. Kawasaki Kisen was down 7.2 percent. JFE Holdings fell 1.7 percent. Steelmaker Nippon Steel fell 1.9 percent.

As for oil, Inpex fell 7.1 percent. Idemitsu Kosan lost 3.6 percent. Oil prices have fallen to a six-week low as China plans to release some strategic oil reserves. Eisai fell 9 percent after a panel from the European Medicines Agency backed approval of an Alzheimer’s drug.

Australian markets ended the short session slightly higher and completed a two-day losing streak. The benchmark S&P/ASX200 index rose 0.13 percent to 7,379.20, or 9.30 points overall. The All Ordinaries Index closed at 7713.20 points, up 0.12 percent and 9.20 points. As for energy supplies, they have fallen sharply since oil prices fell sharply overnight. Evolution Mining has risen 9.7 percent since signing a $1 billion copper-gold mine deal with Glencore.

Asian Stocks Showings

Sonic Healthcare, the lab company, rose 3 percent after delivering healthy trading updates at its annual general meeting. Nufarm rose 5.2 percent after revenue, and profit increased during the year to the end of September.

Seoul stocks regressed; The country has had a massive leap since the onset of the pandemic, despite the high injection rate. The Kospi average closed at 2947.38, down 0.51 percent, for a total of 15.04 points. New Zealand stocks fell after a reserve bank survey showed that inflation expectations had risen sharply over the next two years.

The NZX-50 index fell to 12,800.33, or 0.29 percent, or 37.07 points. Real estate stocks are declining. The reason is the concern that higher interest rates may reduce their relative income. U.S. stocks ended lower overnight due to supply chain concerns, inflation fears, and an early rise in Federal Reserve rates. The Dow fell 0.6 percent. The S&P 500 and Nasdaq Composite fell about 0.3 percent.

Hong Kong Shares

Technical companies in Hong Kong fell by 3%. This is the most significant overnight decline since October. Alibaba Group fell 5.3% ahead of the results. The company’s single-day sales grew at a languid pace. This underscores the regulatory solid pressure and resistance of the supply chain to tech companies. Experts suggest that Alibaba’s earnings will most likely not be driving stocks. Meituan decreased by 2.5%.

Real estate developers in Hong Kong fell 2.4%. This is related to liquidity concerns in the sector. Developers are stepping up funding efforts. China Evergrande Group mentioned it was selling its full stake in HengTen Network Holdings for $273.5 million. Country Garden Services raised $1 billion from the sale of 150 million new shares. Country Garden Holdings and Evergrande completed more than a 5% decline. HengTen Network Holdings grew by almost 25%. Healthcare firms lost 1.8%.

It seems that the effects of inflation and other external factors on stocks are quite large. We wonder what results we will have by the end of the year.

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