Search

Japan's Nikkei 225 surges nearly 2%; property shares in Hong Kong decline on tax fears - CNBC

SINGAPORE — Stocks in Asia-Pacific were mixed on Tuesday after major indexes on Wall Street rose to record closing highs stateside.

Japanese stocks led gains regionally as the Nikkei 225 jumped 1.77% to close at 29,106.01 while the Topix index gained 1.15% to 2,018.40.

South Korea's Kospi advanced 0.94%, closing at 3,049.08. South Korea's gross domestic product grew 0.3% on a seasonally adjusted basis in the third quarter of 2021 as compared with the previous quarter, data showed Tuesday. That was lower than a median 0.6% growth expected in a Reuters survey.

Mainland Chinese stocks closed lower as the Shanghai composite slipped 0.34% to 3,597.64 while the Shenzhen component shedding 0.363% to 2,424.39. Hong Kong's Hang Seng index fell about 0.6%, as of its final hour of trading.

In Australia, the S&P/ASX 200 rose slightly to close at 7,443.40.

MSCI's broadest index of Asia-Pacific shares outside Japan traded little changed.

China property stocks fall on tax fears

Real estate stocks in Hong Kong declined in Tuesday trade amid fears that Beijing could tax property owners.

Shares of debt-ridden developer China Evergrande Group plunged 4.12% while China Vanke fell 5.36% and Country Garden dropped 5.06%. The Hang Seng Properties index slipped 2.04%.

Those losses came after China's top executive body was authorized over the weekend to conduct a property tax test for five years in unspecified regions.

EV battery maker stocks mostly surge

Shares of electric vehicle battery makers in Asia-Pacific soared in Tuesday morning trade after car rental firm Hertz announced it will be ordering 100,000 vehicles from Tesla by the end of 2022.

In Japan, Panasonic shares jumped 5.64%. South Korea's LG Chem, owner of electric battery maker LG Energy Solution, gained 1.1%. Over in mainland China, however, shares of Contemporary Amperex Technology fell 2.092% after earlier surging more than 4%.

Electric vehicle stocks in Hong Kong also jumped, with shares of BYD rising 2.38% and Xpeng soaring 8.4%.

The Dow Jones Industrial Average and S&P 500 sailed to record closing highs on Monday. The Dow rose 64.13 points to 35,741.15 while the S&P 500 gained 0.47% to 4,566.48. The Nasdaq Composite also advanced 0.9% to 15,226.71.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.892 after a recent jump from below 93.6.

The Japanese yen traded at 113.98 per dollar, still stronger than levels above 114 seen against the greenback last week. The Australian dollar was at $0.7493, against an earlier low of $0.7482.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures mildly lower at $85.96 per barrel. U.S. crude futures slipped 0.17% to $83.62 per barrel.

— CNBC's Evelyn Cheng contributed to this report.

Adblock test (Why?)



Business - Latest - Google News
October 26, 2021 at 06:40AM
https://ift.tt/3EhXWuU

Japan's Nikkei 225 surges nearly 2%; property shares in Hong Kong decline on tax fears - CNBC
Business - Latest - Google News
https://ift.tt/2Rx7A4Y


Bagikan Berita Ini

0 Response to "Japan's Nikkei 225 surges nearly 2%; property shares in Hong Kong decline on tax fears - CNBC"

Post a Comment

Powered by Blogger.