Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Asia report: Japan leads gains on mixed day for region
(Sharecast News) - Asia-Pacific markets finished with a mixed performance on Thursday, with Japan leading the gains as investors looked ahead to a policy decision from the US Federal Reserve. Expectations were for the US central bank to maintain its current interest rate targets.
Patrick Munnelly, market analyst at TickMill Group, said stocks in the region experienced primarily positive trading conditions, although gains were limited for most indices ahead of the Federal Open Market Committee (FOMC) announcement.
"The region also faced a series of data releases, including disappointing Chinese Caixin manufacturing PMI, which marked its first contraction in three months," he said.
"The Nikkei 225 posted the most substantial gains, benefiting from reports of a new economic package in Japan totalling around JPY 17trn, as well as recent currency depreciation following the Bank of Japan's modest yield curve control adjustment.
"Conversely, the Hang Seng and Shanghai Composite saw choppy trading."
Patrick Munnelly noted that the Caixin manufacturing PMI data from China mirrored the recent deterioration in the official figures.
"There was some disappointment after the People's Bank of China's open market operations resulted in a net daily drain, despite prior reports of the central bank's likely addition of further liquidity and expected declines in money market rates from the day."
Japan markets jump, mixed performance for rest of region
Stocks in Japan put in a robust performance, with the Nikkei 225 closing up 2.41% to reach 31,601.65, while the Topix index saw significant gains of 2.53% to 2,310.68.
The impressive performance came a day after the Bank of Japan announced a fresh approach of flexibility to its yield curve control policy.
Leading the gains on Tokyo's benchmark were Mitsubishi Electric, which surged 14.52%, followed by Mitsubishi Chemical Holdings, up 9.88%, and Daiwa Securities Group, which added 9.69%.
Markets in mainland China meanwhile showed mixed results, with the Shanghai Composite edging up 0.14% to 3,023.08, while the Shenzhen Component saw a slight decline of 0.38% to end at 9,826.73.
Among the notable gainers in Shanghai were Guangzhou Tongda Auto Electric and Fujian Furi Electronics, which were up 10.05% and 10.02%, respectively.
The Hang Seng Index in Hong Kong experienced a marginal decline of 0.06%, closing at 17,101.78.
Some of the prominent fallers in the city included Haidilao International, down 12.78%, China Resources Mixc Lifestyle, which lost 2.46%, and Trip.com Group, which was 2.46% weaker/
South Korea's Kospi index displayed positive momentum, rising by 1.03% to reach 2,301.56, with the gainers including Hanwha Aerospace, ascending 12.38%, and Hanwha Solutions, jumping 7.16%.
Australia's S&P/ASX 200 index posted steady gains of 0.85%, closing at 6,838.30, with Paladin Energy rising 7.94% and Pro Medicus adding 5.18%.
Across the Tasman Sea, New Zealand's S&P/NZX 50 index also showed positive movement, increasing by 0.87% to reach 10,850.92.
Freightways and Synlait Milk were among the leading gainers in Wellington, rising 5.37% and 4.51%, respectively.
In currency markets, the dollar was last down 0.32% on the yen, trading at JPY 151.20.
The greenback was, however, trading stronger on its downunder counterparts, rising 0.05% on the Aussie to AUD 1.5788, and advancing 0.08% against the Kiwi to change hands at NZD 1.7180.
In oil markets, Brent crude futures were last up 1.22% on ICE at $86.06 per barrel, while the NYMEX quote for West Texas Intermediate rose 1.32% to $82.09.
Mixed economic signals across Asia-Pacific economies
In economic news, China's manufacturing sector saw an unexpected contraction in October, according to fresh data from a private survey.
The Caixin/S&P Global manufacturing purchasing managers' index (PMI) declined to 49.5, marking the first contraction in four months.
Economists surveyed by Reuters had pencilled in a reading of 50.8, with a PMI reading below 50 indicating a contraction.
The result mirrored the official figure released earlier in the week by China's National Bureau of Statistics.
"The CNY 1trn post-disaster reconstruction targeted stimulus is likely to buoy construction activity in the fourth and first quarters, filtering down to industrial demand, and offsetting the drag from the struggling property sector and declining exports," said Pantheon Macroeconomics chief China economist Duncan Wrigley.
"China's industrial sector probably will continue to forge an uneven and patchy recovery, led by electric vehicles and green energy, but hampered by soft domestic demand and a slow rebound in consumer sentiment."
Elsewhere, South Korea saw a positive turn in its export performance, recording a 5.1% year-on-year increase in exports in October, reversing the 4.4% decline observed in September.
That marked the first expansion in exports since September last year.
However, South Korea's factory activity contracted slightly deeper in October, with the PMI registering at 49.8, down from 49.9 in September.
"Cost pressures have continued to build," Pantheon's Duncan Wrigley said of the Korean data.
"The input price index rose to 59.4 in October, the highest level since December 2022, with manufacturers citing rising global energy and raw material prices, and higher import costs due to the weaker won."
In India, factory activity slowed to its weakest pace since February, according to private surveys conducted by S&P Global.
The manufacturing PMI for the country fell to 55.5 in October, down from September's reading of 57.5.
Despite the deceleration, it still marked the 28th consecutive month of improvement in the sector's health, with the latest reading remaining above its long-run average of 53.9.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.