Asia-Pacific Stocks Experience Gains

July 28, 2023

Asia-Pacific stocks showed positive movement on Friday, July 28. Hong Kong shares experienced a second consecutive session of growth, while Japanese stocks weakened slightly.

Hong Kong Market

The Hang Seng Index (HK:HSI) of Hong Kong companies rose by 1.4% to reach 19,916.56.

Among the Hang Seng Index constituents, the building construction company Longfor Group Holdings (HK:960) witnessed the largest increase on Friday, with shares rising by 8.8%. Additionally, shares of optical instruments firm Sunny Optical Technology (HK:2382) and computers/consumer electronics company Lenovo Group (HK:992) increased by 8.8% and 7.7% respectively.

Conversely, gold ore mining company Zijin Mining Group (HK:2899) witnessed the largest decrease in Hong Kong, as shares dropped by 2.7% on Friday. Shares of retail real estate investment trust Link Real Estate Inv Tr (HK:823) and mobile telecommunications company China Unicom (Hong Kong) (HK:762) also faced declines of 1.7% and 1.6% respectively.

Japanese Market

The Nikkei 225 Index (JP:NIK) of Japanese companies weakened by 0.4% to reach 32,759.23.

Among Nikkei 225 Index constituents, banking company Resona Holdings (JP:8308) saw the largest increase on Friday with shares gaining 8.2%. Shares of life insurance firm T&D Holdings (JP:8795) and life insurance company Dai-ichi Life Holdings (JP:8750) increased by 7.5% and 7.2% respectively.

However, trucks/lorries/vans company Hino Motors (JP:7205) faced the largest decline on Friday, as shares dropped by 9.6%. Shares of environmental control systems firm Omron (JP:6645) and semiconductors company Renesas Electronics (JP:6723) also experienced declines of 9.5% and 4.9% respectively.

Other Markets

China’s Shanghai Composite Index (CN:SHCOMP) added 1.8% to reach 3,275.93, and Singapore’s FTSE Straits Times Index (SG:STI) rose by 0.8% to reach 3,364.04. The KOSPI Composite Index (KR:180721) of South Korean stocks also added 0.2% to reach 2,608.32, while Australia’s S&P/ASX 200 Benchmark Index (AU:XJO) declined by 0.7% to reach 7,403.60.