Hong Kong and Japan Market Weakness
Stocks in the Asia-Pacific region faced a considerable decline on Tuesday, Nov. 7. Notably, Hong Kong’s Hang Seng Index weakened by 1.6% to reach 17,670.16. In a similar vein, the Nikkei 225 Index of Japanese companies also witnessed a decline of 1.3%, settling at 32,271.82.
Mixed Performance in China and Singapore
The Shanghai Composite Index in China remained relatively flat, recording a value of 3,057.27. Meanwhile, the FTSE Straits Times Index of Singapore experienced a drop of 0.4% to reach 3,168.30.
South Korea and Australia Stocks Decrease
South Korea’s KOSPI Composite Index weakened significantly by 2.3% to hit 2,443.96. Additionally, the S&P/ASX 200 Benchmark Index displayed a slight decline of 0.3%, finishing at 6,977.10.
Hong Kong Stock Declines
Among the constituents of the Hang Seng Index, Wharf Real Estate Invt, a commercial/industrial real estate company, witnessed the largest decrease in Hong Kong with a 4.9% drop in share value on Tuesday. Similarly, clothing firm Shenzhou Intl Group and motor vehicle dealing company Zhongsheng Group Holdings faced declines of 4.9% and 4.7% respectively.
Positive Gains for Select Companies
On a more positive note, aluminum company China Hongqiao Group experienced the largest increase in Hong Kong on Tuesday as its shares gained 2.7%. Cell/mobile phone firm Xiaomi and mobile telecommunications company China Unicom (Hong Kong) also saw increases of 1.8% and 1.0% respectively.
Noteworthy Movements in Japan
Within the Nikkei 225 Index, food products company Ajinomoto suffered major declines on Tuesday with shares plunging by 10.2%. Additionally, construction firm Shimizu and computer services company NTT Data Group experienced drops of 8.5% and 6.6% respectively.
On the other hand, chemicals company Asahi Kasei emerged as a standout performer, with shares increasing by 4.3%. Similarly, electrical components/equipment firm Hitachi Zosen and semiconductors company SCREEN Holdings witnessed rises of 4.3% and 2.6% respectively.