By Hong Kong and Japanese Markets Experience Continuous Decreases
Stocks in the Asia-Pacific region saw declines on Friday, July 7. Hong Kong and Japan, in particular, witnessed continued decreases for the third and fourth consecutive days, respectively.
Hong Kong Stocks
In Hong Kong, the Hang Seng Index (HSI) showed a decline of 0.9% at 18,365.70. This downward trend impacted various sectors within the market.
Japanese Companies
The Nikkei 225 Index (NIK), which represents Japanese companies, fell by 1.2% to 32,388.42. This downward movement affected several industries in Japan.
Other Markets Affected
Chinese companies also experienced a decline, with the Shanghai Composite Index (SHCOMP) falling by 0.3% to 3,196.61. Similarly, Singapore stocks weakened, leading to a 0.4% decrease in The FTSE Straits Times Index (STI) to 3,137.26. South Korean stocks also faced a downturn, resulting in a 1.2% drop in the KOSPI Composite Index (180721) to 2,526.71. Australian stocks were not exempt from this trend either, as the S&P/ASX 200 Benchmark Index (XJO) weakened by 1.7% to 7,042.30.
Negative Performances of Key Companies
Within the Nikkei 225 Index constituents, Eisai Co Ltd (4523), a pharmaceuticals company, witnessed the largest decline on Friday with shares falling by 4.7%. Tokyo Electric Power (9501), an electric power generation firm, and Sharp Corp. (6753), a personal electronics company, saw their shares weaken by 3.2% and 3.1%, respectively.
Positive Performance of Chiba Bank
Contrary to the overall market trend, Chiba Bank (8331), a commercial banking company in Japan, stood out as it saw a 2.1% increase in share prices on Friday.
These developments reflect the current state of the Asia-Pacific stock markets, which have faced losses and gains across various sectors and companies.
Market Update: Fukuoka Financial Group and Kobe Steel Show Positive Growth
Shares of central banking firm Fukuoka Financial Group (8354) and steel production company Kobe Steel (5406) both experienced a 1.3% increase.
Hong Kong’s Hang Seng Index Witnesses Decline in ENN Energy Holdings
Among the constituents of the Hang Seng Index, gas utilities company ENN Energy Holdings (2688) suffered the largest decrease in Hong Kong, with shares weakening by 7.7% on Friday.
Xinyi Solar Holdings and Li Ning Face Decline
Renewable energy equipment firm Xinyi Solar Holdings (968) and sporting goods stores company Li Ning (2331) saw their shares decline by 6.8% and 4.3% respectively.
Alibaba Group Holding Shows Significant Growth in Hong Kong
Meanwhile, etailing company Alibaba Group Holding (9988) experienced the largest boost in Hong Kong on Friday, with shares rising by 3.4%.
Positive Growth for Tingyi Cayman Islands and Orient Overseas Intl
Shares of food products firm Tingyi Cayman Islands (322) and marine transport company Orient Overseas Intl (316) increased by 1.6% and 1.1% respectively.
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