iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Asian markets rise with Nikkei 225 outperforming; Hong Kong's Tech index soars by 2%

18 Jan 2022 , 10:18 AM

Asian markets opened in the green with other markets traded flat even as Chinese stocks reacted to rate cuts by the Central Bank to spur business activity. Taiwan & South Korean markets traded flat after the Taiwan markets hit new highs as demand for chip manufacturing hits record highs.

In Japan, the Nikkei 225 climbed 0.84%, the Topix index advanced 0.5%, Hong Kong’s Hang Seng index rose 0.48% while the tech-focused Hang Seng Tech index added 1.72%.

While Chinese mainland shares also rose with the Shanghai Composite was up 0.47% and the Shenzhen Component added 0.36%.

On the economy front, China’s central bank cut its one-year lending rate by 10 basis points to 2.85%, the first cut since April 2020. China’s economy expanded 4% YoY in the fourth quarter, better than consensus estimates of 3.3% but down from Q3’s 4.9% pace. GDP expanded 8.1% for the full year. December industrial production climbed 4.3% vs. a year earlier, slightly better than estimates but retail sales grew just 1.7%, vs. estimates for 3.8%.

Australia’s ASX 200 traded near the flat zone, whereas South Korea’s Kospi index bucked the generally upward trend and was down 0.22%, but the Kosdaq rose 0.15%, despite trimming some of its earlier gains.

Meanwhile, the Organization of the Petroleum Exporting Countries, or OPEC, is due to release its monthly oil market report on Tuesday.

Further, US markets were closed on Monday in observance of the Martin Luther King Jr. holiday. The 10-year Treasury yield rose five basis points to 1.82%, which would be a two-year high. The two-year yield topped 1% for the first time since 2020.

Related Tags

  • Asian markets
  • Australias S&P/ASX 200
  • brent crude oil
  • Chinas Shanghai Composite
  • Coronavirus
  • Coronavirus death toll
  • Coronavirus fears
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.