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Stock markets in Australia, Japan and Hong Kong fall

By Mensholong Lepcha

08:53, 10 December 2021

Stock market charts
Stock market charts – Photo: Shutterstock

Stock markets in Australia, Japan and Hong Kong closed lower on Friday as investors took to risk aversion ahead of a key US consumer inflation data due later in the day.

“Today’s all-important November US CPI release is no doubt the main event for rates markets. Our economics team sees the risk of an overshoot above 7% in the coming months. Considering that it is the October 6.2% print that seems to have tipped the scales in favour of an acceleration of tapering in the Fed’s mind, a print above 7% risks another hawkish reaction in US rates,” ING said in a note on Friday.

“We expect markets to remain volatile until we get greater clarity around Omicron risk, and we get through the FOMC on December 15th. Fortunately both of these potential “clearing events” are coming in the next couple of weeks, though as we’ve mentioned before two weeks can feel like an eternity in markets,” Jefferies said in its Greed & Fear weekly.

Major Asia-Pacific markets fall

In Hong Kong, the benchmark Hang Seng index snapped three straight days of gains to close 1.2% lower as technology stocks slipped. The index, however, brought a three-week decline to a halt with weekly gains of 0.8%.

Japan’s Nikkei 225 index fell 1% to 28,437.77 on broad-based losses, though the index posted its best week in five with a weekly gain of 1.5%.


16,001.20 Price
+0.470% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 7.0

Oil - Crude

74.50 Price
-1.560% 1D Chg, %
Long position overnight fee -0.0136%
Short position overnight fee -0.0083%
Overnight fee time 22:00 (UTC)
Spread 0.040


2,072.25 Price
+1.760% 1D Chg, %
Long position overnight fee -0.0193%
Short position overnight fee 0.0111%
Overnight fee time 22:00 (UTC)
Spread 0.30


0.63 Price
-0.090% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Meanwhile, Australia’s benchmark S&P/ASX 200 index snapped a four-week losing streak by posting a weekly gain of 1.6%. On Friday, however, the losses among energy firms dragged the index 0.4% lower to 7,353.50.

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Alibaba Group snaps three-week losing streak

Among individual stocks, Hong Kong-listed Alibaba Group ended a three-week losing streak by posting a weekly gain of 1.5%. The company had announced an overhaul to its business structure and changed its chief financial officer this week, following which stock prices jumped over 12% on Tuesday.

Japan’s Toyota Motors slipped for a third straight day on media reports that the automaker has suspended operations in four factories on supply shortages. The stock lost 1.3% this week.

In Australia, buy-now-pay-later firm Afterpay was the top intraday percentage loser on the benchmark index, down 4.4% on Friday.

Read more : Oil prices fall on fears of Omicron impact, slow growth

Markets in this article

Alibaba Group
72.1 USD
-0.6 -0.830%
Alibaba Group Holding Limited (Extended Hours)
74.03 USD
-0.71 -0.950%
Australia 200
7141.0 USD
73 +1.030%
Australia 200
7141.0 USD
73 +1.030%
Australia 200
7141.0 USD
73 +1.030%

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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