Hong Kong stocks rise while Aussie stocks fall
04:50, 16 November 2021
Hong Kong’s Hang Seng index rose 1% by lunch break on Tuesday helped by gains in real estate and tech stocks.
Investors kept an eye on the ongoing talks between US President Joe Biden and his Chinese counterpart Xi Jinping as both leaders voiced their responsibility of avoiding conflict.
Hang Seng Mainland Properties Index rose over 2% on Monday with Country Garden Services emerging as one of the top gainers in Hong Kong on Tuesday, up 4.5%.
Japan flat
Hang Seng TECH index climbed 1.3% by midday with index heavyweights Tencent Holdings and Alibaba Group rising over 1.7% each.
Japan’s Nikkei 225 index was close to flat on Tuesday as gains in automobile firms offset losses in steel and machinery stocks.
Topix-17 Automobile & Transport Equipment index was the top performing sectoral sub-index by Tuesday afternoon as Toyota Motor and Suzuki Motor extended Monday’s gains.
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Aussie stocks down
Elsewhere, Australia’s S&P/ASX 200 index was on track for its worst day in over two weeks on Tuesday after Reserve Bank of Australia Governor Philip Lowe said an outlook on inflation is “more uncertain than it has been for some time.”
Lowe added that an interest rate hike in 2022 is unlikely.
On Tuesday, S&P/ASX 200 index slipped 0.8% to 7,409.20 by late afternoon in Sydney. Biopharmaceutical firm Mesoblast lost over 8% and investment management services company Pendal Group fell about 4% to emerge as the biggest intraday percentage losers.
Read more: China slowdown could have ripple effect on emerging markets
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