October 21, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Asia-Pacific stocks mixed as China’s September imports miss expectations

SINGAPORE — Shares in mainland China were mixed in Wednesday morning trade as investors reacted to the release of Chinese trade data for September.

The Shanghai composite declined 0.54% in morning trade while the Shenzhen component rose 0.243%.

China’s imports rose 17.6% from a year earlier in September, customs data showed Wednesday, missing expectations for a 20% expansion in a Reuters poll. Exports in September rose 28.1% from a year earlier in September, the data showed, exceeding forecasts by analysts in a Reuters poll for a 21% year-on-year rise.

Mixed Asia-Pacific markets

In Japan, the Nikkei 225 slipped 0.22% while the Topix index dipped 0.23%.

Elsewhere, South Korea’s Kospi advanced 1.15%. Australian stocks swung between positive and negative territory, with the S&P/ASX 200 last trading 0.13% lower.

MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.14% higher.

Trading in Hong Kong is set to be cancelled all day on Wednesday because of severe weather due to Typhoon Kompasu, with the Hong Kong Observatory issuing an alert that the “Storm Signal No. 8” is set to remain in force up to 4 p.m. According to the Hong Kong exchange’s rules, all trading sessions will be cancelled if that storm signal or a higher alert level remains in place at 12:00 p.m. local time.

Oil moves

Oil prices were lower in the morning of Asia trading hours, although they still remained elevated above $80 per barrel.

International benchmark Brent crude futures declined 0.26% to $83.20 per barrel. U.S. crude futures fell 0.3% to $80.40 per barrel.

China on Tuesday announced plans to liberalize coal-fired power pricing, Reuters reported, as the country faces a energy crisis.

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Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.353 after bouncing from levels below 94.2 earlier in the week.

The Japanese yen traded at 113.44 per dollar following yesterday’s weakening from below 113.4 against the greenback. The Australian dollar was at $0.7341, off levels around $0.738 seen yesterday.

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