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: Most markets rise as China property prices slip
(Sharecast News) - Asia-Pacific markets saw mixed performances on Friday, as Chinese stocks saw their ninth consecutive session of gains amid fresh property prices data. Russ Mould, investment director at AJ Bell, said indices around the world were hitting record highs as the latest test for investor sentiment came and went in the form of Nvidia's results.
"These managed to outmatch the market's already elevated expectations, suggesting the AI theme is very real," Mould noted.
"However, how healthy it is for a single stock to have such a big bearing on global markets is questionable."
"The market may now be short of big catalysts until the middle of next week as the US reporting season begins to wind down, with core PCE - personal consumption expenditures - data from the US likely to be closely watched next Thursday given it is the Federal Reserve's preferred measure of inflation."
Mainland China stocks rise on mostly positive day for region
China's Shanghai Composite rose 0.55% to 3,004.88, while the Shenzhen Component edged up by 0.28% to reach 9,069.42.
Leading the gains in Shanghai were Chongqing Dima Industry, Cultural Investment Holdings, and Inesa Intelligent Tech, which saw gains of 10.44%, 10.3%, and 10.05%, respectively.
In Japan, markets remained closed for the Emperor's Birthday holiday.
Meanwhile, Hong Kong's Hang Seng Index experienced a slight decline of 0.1% to settle at 16,725.86.
Key losers in Hong Kong included Wharf Real Estate Investment, Lenovo Group, and Xinyi Glass Holdings, which saw declines of 3.36%, 3.28%, and 2.77%, respectively.
South Korea's Kospi index edged up by 0.13% to 2,667.70, with notable gains seen in Meritz Financial, DB Insurance, and Yuhan, rising by a respective 9.26%, 4.49%, and 4.2%.
Meanwhile, Australia's S&P/ASX 200 index saw a modest increase of 0.43% to reach 7,643.60, with standout performers including Block, Tabcorp Holdings, and Lovisa Holdings, which saw gains of 16.51%, 6.92%, and 6.85%, respectively.
In New Zealand, the S&P/NZX 50 index rose by 0.25% to 11,719.82, with Fisher & Paykel Healthcare, Investore Property, and Sanford among the top performers, with gains of 2.76%, 2.7%, and 2.1%, respectively.
On the currency front, the dollar was last 0.14% stronger on the yen, trading at JPY 150.74, while it declined 0.05% against the Aussie to AUD 1.5244.
The greenback was meanwhile 0.11% stronger on the Kiwi, last changing hands at NZD 1.6161.
In the commodities market, Brent crude futures were last down 1.15% on ICE to $82.71 per barrel, while the NYMEX quote for West Texas Intermediate fell 1.3% to $77.59.
Housing prices slip in China, retail sales slide further in NZ
In economic news, China's commercial housing sales prices saw a narrowing decline on a month-on-month basis, according to fresh data from the National Bureau of Statistics.
Official figures revealed that sales prices of newly-built commercial houses in first-tier cities dropped 0.3% in January compared to the prior month, marking a 0.1 percentage point reduction in declines on the month.
However, prices continued to decrease from the previous year, with a 0.5% fall compared to January last year, indicating a 0.4 percentage point increase in declines.
The numbers followed a period of significant downturn for China's property market, which saw its most substantial declines in new home prices in nearly nine years towards the end of 2023.
"We believe the crux of the problem remains to be weak confidence amongst prospective home buyers," said Pantheon Macroeconomics chief China economist Kelvin Lam.
"It is unsurprising given poor job prospects and sluggish income growth, with the economic downturn showing no apparent signs of a let-up."
Lam noted that the government had devised policies targeting part of the problem, particularly on developer funding so they had the financial means to complete existing projects.
"Local governments are beginning to take charge of arranging funds from policy banks to complete 'white-listed' property projects, with the creation of property financing coordination mechanisms nationwide since the start of the year."
In New Zealand, retail sales sustained a downward trend, registering a decline for the eighth consecutive quarter, according to official data from Stats NZ.
The total volume of retail sales in the December quarter dropped 1.9%, with year-on-year retail sales contracting by 4.1%.
Most industries experienced a decrease in retail activity during the December quarter, with notable declines in motor vehicle and parts retailing, down 2.5%; food and beverage services, down 2.4%; and fuel retailing, down 3.6%.
The pharmaceutical and other store-based retailing industry was the only exception, seeing a slight increase in retail activity, up by 0.3%.
Finally on data, Singapore's consumer prices in January showed a sluggish increase, recording its slowest pace in over two years, aided by declining fuel and housing costs.
Data indicated that the consumer price index (CPI) rose 2.9% in the city-state, marking its slowest rise since September 2021.
The core CPI, which excludes accommodation and private transport prices, increased 3.1% year-on-year in January, falling below economists' expectations.
Notably, recreational spending moderated to a 3.3% month-over-month increase, signalling consumer belt-tightening in response to higher goods and services taxes and the Monetary Authority of Singapore's maintenance of tight financial conditions.
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.