Asian stock markets closed with mixed results today, reflecting uncertainty among investors as they awaited key economic indicators, particularly South Korea’s Gross Domestic Product (GDP) data.
Hong Kong’s Hang Seng index closed positively for the fourth consecutive day, finishing at 17,284.54 points, up 83.27 points or 0.48%. Investors displayed optimism towards the performance of various companies, while also closely monitoring significant economic events in the United States scheduled for this week.
Meanwhile, China’s Shanghai Composite index ended the day with a slight positive movement, reaching 3,052.90 points, up 8.08 points or 0.27%. Market sentiment in China improved as analysts revised their outlook on the country’s stock market.
In contrast, South Korea’s Composite (KOSPI) index closed negatively at 2,628.62 points, down 47.13 points or 1.76%. Investor sentiment was impacted by profit-taking activities following a rise in South Korean stocks in the previous session. Additionally, the South Korean won weakened against the US dollar, further contributing to the market’s downturn.
Tokyo’s Nikkei index experienced a significant decline, dropping over 2% to close at 37,628.48 points, down 831.60 points or 2.16%. Investors opted to sell stocks to secure profits following a market surge of more than 900 points in the previous session. Furthermore, disappointment arose from profit estimates provided by major Japanese companies.
As investors continue to navigate market uncertainties, all eyes are on forthcoming economic data releases, particularly South Korea’s GDP figures, which are anticipated to provide insights into the region’s economic health and potential market trends.