economy news online news
Hong Kong stocks opened lower on Tuesday as an overnight rally in US tech shares failed to offset concerns about China’s property sector and the wider economy. online news
The Hang Seng Index slipped 0.93 percent, or 174.35 points, to 18,599.20.
The Shanghai Composite Index inched up 0.07 percent, or 2.13 points, to 3,180.56, while the Shenzhen Composite Index on China’s second exchange added 0.03 percent, or 0.55 points, to 2,000.19.
mtp/cwl
© Agence France-Presse. All rights are reserved.
Tokyo Shares Open Higher
Tokyo shares opened higher Tuesday as investors cheered an overnight rebound of US tech shares and surprisingly strong Japanese GDP data.
The benchmark Nikkei 225 index rose 0.84 percent, or 270.43 points, to 32,330.34, while the broader Topix index added 0.49 percent, or 11.13 points, to 2,292.02.
“The market should maintain the momentum seen in the US and is expected to stay buoyant in early trade,” brokerage house Monex said in a note.
Investors picked up semiconductor shares after the Nasdaq surged 1.1 percent overnight with chip developers Nvidia rising 7.09 percent while Micron Technology also jumped 6.07 percent.
In Tokyo, Advantest, which makes tests for semiconductors, rose 3.49 percent to 18,400 yen. Tokyo Electron, which makes tools to make semiconductors, rose 3.33 percent to 20,945 yen.
High-tech investor SoftBank Group added 0.87 percent to 6,689 yen.
Sony Group rose 1.03 percent to 12,300 yen.
news dispatch
Shortly before the opening bell, the Japanese government announced that its economy grew 1.5 percent during the three months to June, compared with the previous quarter, driven by robust exports on the back of a weaker yen.
The level compared with the market’s expectation for 0.8 percent growth.
Along with exports, Japan’s economy benefited from the return of international tourists after the pandemic.
But Japan’s consumption remained weak, causing worries among investors.
The dollar stood at 145.48 yen, nearly flat from 145.50 yen seen in New York overnight.
hih/stu/lb
© Agence France-Presse. All rights are reserved.
economy news online news
