Asia-Pacific stocks displayed a mixed performance on Tuesday, January 16th, as the Hong Kong market witnessed its third consecutive decline.
Hong Kong Market Decline
The Hang Seng Index (HSI) in Hong Kong experienced a significant drop of 2.2%, settling at 15,865.92. Furthermore, Japan’s Nikkei 225 Index (NIK) also saw a decline of 0.8%, reaching 35,619.18.
Chinese and Singapore Stocks
Conversely, the Shanghai Composite Index (SHCOMP) of Chinese companies added 0.3% to reach 2,893.99. Conversely, Singapore stocks faced a decrease, with the FTSE Straits Times Index (STI) dropping by 0.5%, settling at 3,183.59.
South Korea and Australia
South Korea’s KOSPI Composite Index (180721) experienced a drop of 1.1%, reaching 2,497.59, while Australia’s S&P/ASX 200 Benchmark Index (XJO) weakened by 1.1% to settle at 7,414.80.
Hong Kong Market Movers
Among the constituents of the Hang Seng Index, the pharmacies/drugstores company JD Health International (6618) witnessed a significant decline of 6.8%. Similarly, shares of real estate services/transactions firm Longfor Group Holdings (960) and food products company Tingyi Cayman Islands (322) declined by 6.6% and 5.7%, respectively. On the other hand, shares of mobile telecommunications company China Unicom (Hong Kong) (762) experienced a notable increase of 0.8%. Additionally, shares of mobile telecommunications firm China Mobile (941) and pharmaceuticals company Hansoh Pharmaceutical (3692) both saw a 0.6% increase.
Nikkei 225 Index Performance
Within the Nikkei 225 Index, games software company NEXON (3659) experienced a significant decrease on Tuesday, with shares falling by 4.7%. Similarly, shares of cinema film production firm Toho Co Ltd (9602) and printing company Dai Nippon Printing (7912) dropped by 3.8% and 3.5%, respectively. On a positive note, marine freight company Kawasaki Kisen Kaisha (9107) saw a notable increase of 2.8%. Additionally, shares of amusement/theme parks firm Oriental Land (4661) and marine transport company Nippon Yusen (9101) both rose by 2.7%.
