Tue. Oct 4th, 2022

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Asia stocks trade assorted

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Asia-Pacific stocks

Mixed Asia-Pacific stocks

Stocks in Asia Pacific were mixed in Tuesday trade, as Japan released revised gross domestic product figures for the second quarter.

In Japan, the Nikkei 225 advanced 0.54% in afternoon trade while the Topix index gained 0.3%.

Japan’s revised GDP figures for the April-June quarter showed the country’s economy shrinking an annualized 28.1%, according to second preliminary estimates released by the Cabinet Office. It was worse than preliminary estimates released in mid-August, which had shown the country’s economy shrinking 27.8% on an annualized basis in April-June.

Tuesday’s revised GDP figure compared with a median forecast for a 28.6% contraction by economists in a Reuters poll.

Following the data release, the Japanese Yen traded at 106.27 per dollar after seeing levels below 106.2 yesterday against the greenback.

Hong Kong’s Hang Seng index shed earlier gains to slip 0.57% lower.

Shares of Chinese bottled water firm Nongfu Spring surged more than 80% from their issue price in their debut in Hong Kong. The stock later pared some of those gains but was still more than 50% higher.

Mainland Chinese stocks also declined, as the Shanghai composite slipped 0.34% while the Shenzhen component fell 1.078%.

South Korea’s Kospi rose 0.64%. Shares in Australia also saw gains, with the S&P/ASX 200 trading 0.75% higher.

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