Asian Stocks Mixed Ahead of Jackson Hole as Japan Leads DeclinesBy
Hong Kong stocks gain as trading resumes after typhoon
Europe’s August manufacturing demand increase boosts sentiment
Asian markets were mixed ahead of the Jackson Hole central-bank summit as Japan steelmakers retreated on reports of a Toyota Motor Corp. price cut while Hong Kong stocks continued to climb after trading resumed in the financial center.
The MSCI Asia Pacific Index fell less than 0.1% to 159.95 as of 4:37 p.m. in Hong Kong, while a gauge of Asia stocks excluding Japan shares rose 0.4 percent. The Hang Seng Index advanced after Wednesday’s cancellation due to a storm, led by financials ahead of big banks’ earnings reports. Most other markets in the region rose as investors shrugged off a decline in U.S. equities overnight on concerns surrounding the Trump administration.
U.S. President Donald Trump said at a rally on Tuesday that it’s inevitable that the U.S. will pull out of the North American Free Trade Agreement and threatened to shut down the government in October over funding of a U.S.-Mexico border wall. The U.S. Congress needs to pass a spending measure to keep the government open by Sept. 30 -- the same time it’s facing a deadline to raise the nation’s debt limit.
Investors are perhaps starting to take some of President Donald Trump’s comments with “a grain of salt”, said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney. The underlying global economic growth which has been pushing stock markets higher all year is “still in place and there was evidence of that overnight”, he said, referring to data showing a gain in manufacturing demand in Europe and rise in a composite Purchasing Managers’ Index in the U.S. in August.
- Hang Seng Index +0.4%, Hang Seng China Enterprises Index +0.9%
- Shanghai Composite Index -0.5%, Taiwan’s Taiex Index +0.8%
- Crackdown Risk Has China’s Hottest Stocks Looking Vulnerable
- Kospi Index +0.4%, Kospi 200 Index +0.3%
- Korean Cosmetics Stocks Gain on China-Ties Anniversary: Samsung
- Japan’s Topix -0.5%, Nikkei 225 -0.4%
- Japan Shares Dip as Steelmakers Drop on Toyota Price-Cut Reports
- Australia’s S&P/ASX 200 Index +0.1%, New Zealand’s NZX 50 -0.1%
- Singapore’s Straits Times Index +0.4%, FTSE Bursa Malaysia KLCI Index -0.1%, Jakarta Composite Index -0.5%, Vietnam’s VN Index +0.5%, Thailand’s SET Index +0.1%
- Falling Advertising Budget Takes Toll on Indonesian TV Stocks
- India’s S&P BSE Sensex Index +0.1%, NSE Nifty 50 Index little changed
- India’s Sensex Heads for Weekly Gain, Paced by Drugmakers and IT