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: Stocks fall further as investors brace for inflation data
(Sharecast News) - Markets in the Asia-Pacific region continued their sell-off on Monday as investors braced themselves for a week filled with crucial economic data releases and South Korea's third-quarter gross domestic product (GDP) figures.
The week ahead was set to be marked by inflation readings from Australia, Japan, and South Korea.
"Asian equity markets saw declines, partially reflecting the losses in European and US markets from Friday," said TickMill market analyst Patrick Munnelly.
"However, futures for European and US equities were trading higher.
"Meanwhile, both oil and gold prices decreased as investors continued to assess the ongoing volatile situation in the Middle East."
Munnelly said market participants were monitoring the release of two hostages by Hamas and a delay in Israel's ground invasion of Gaza.
"Despite these developments, the risk of a broader escalation of the conflict, including potential concerns at Israel's northern border, is likely to keep markets on edge."
Regional markets a sea of red, Hong Kong and NZ closed for holidays
In Japan, the Nikkei 225 declined by 0.83%, settling at 30,999.55 points, while the Topix index slipped by 0.75% to 2,238.81 points.
Notable losers on Tokyo's benchmark included Pacific Metals, down 4.83%; Nippon Sheet Glass, off 3.94%; and Oki Electric Industry, which lost 3.07%.
In China, the Shanghai Composite and Shenzhen Component indices experienced declines of 1.47% and 1.51%, respectively, to 2,939.29 points and 9,425.98 points.
Leading the list of significant losses in Shanghai were Foxconn Industrial Internet, tumbling 10.02%, and GuangDong Super Telecom, which was 10.01% weaker.
Markets in Hong Kong remained closed for the Chung Yeung Festival holiday, while traders in New Zealand enjoyed the day off for Labour Day.
South Korea's Kospi dipped 0.76% to settle at 2,357, with substantial losses of 23.93% for Kiwoom, while Hyundai Engineering & Construction was 7.98% lower.
Australia's S&P/ASX 200 index also headed downward, decreasing 0.82% to 6,844.10 points.
Among the notable decliners in Sydney were New Hope Corporation, off 8.5%, and Pilbara Minerals, behind by 7.25%.
In currency markets, the dollar was last 0.03% stronger on the yen, trading at JPY 149.90, while it rose 0.07% against the Aussie to AUD 1.5848 and increased by 0.15% on the Kiwi to change hands at NZD 1.7184.
On the commodities front, Brent crude futures were last down 0.17% on ICE at $91.91 per barrel, while the NYMEX quote for West Texas Intermediate dropped 0.39% to $87.74.
Inflation jumps in Hong Kong, Korean exports buoyant in October
In economic news, Hong Kong's inflation rate for September exceeded expectations, as the city's consumer price index (CPI) jumped 2% year-on-year.
That figure notably outpaced the 1.8% growth anticipated by economists polled by Reuters and the 1.8% increase recorded in August.
Hong Kong's statistics bureau reported widespread price hikes across most sectors, except durable goods.
Leading the charge in price increases were alcoholic drinks and tobacco, clothing and footwear, dining out and takeaway food, with a particularly striking 18.9% year-on-year rise in alcoholic beverage prices.
Meanwhile, Singapore's CPI displayed a 4.1% year-on-year upswing in September, marking a slightly faster rate of increase compared to the 4% recorded in August.
The development also marked the first ascent in the headline inflation rate since April.
However, the Monetary Authority of Singapore's (MAS) core inflation measure experienced a more modest rise of 3% year-on-year - lower than August's 3.4% and short of the 3.1% forecast by economists in Reuters polling.
Elsewhere, exports from South Korea in the first 20 days of October rose 4.6% year-on-year after growing 9.8% over the same period in September.
On a working-day adjusted basis, exports rose sharply by 8.3%, compared with a fall of 7.9% in September.
The notable increase in the working-day adjusted measure was attributed to favourable base effects and some improvements in regional activity.
Economists at Pantheon Macroeconomics said the magnitude of the future improvements in Korean exports hinged on the strength of the rebound for semiconductor demand and the regional demand recovery, particularly from China.
"In any case, the lower base from last year will continue to be favourable for export growth in the fourth quarter," they said.
"We expect aggregate demand from advanced economies to remain soft in the coming months, thanks to elevated interest rates raising the debt servicing burden of households in those countries."
Pantheon said China's recovery was still fragile, although the effect of previously-deployed stimulus was gradually being seen.
"Admittedly, the demand and sentiment of Chinese households will be constrained by the performance of the property and other asset markets, which will weigh on Korea's exports in the near term."
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.