{"id":526887,"date":"2021-01-19T21:10:02","date_gmt":"2021-01-19T21:10:02","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=526887"},"modified":"2021-01-19T21:10:02","modified_gmt":"2021-01-19T21:10:02","slug":"asiapacific-stocks-outperform-amid-buying-spree","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/asiapacific-stocks-outperform-amid-buying-spree_526887.html","title":{"rendered":"Asia-Pacific Stocks Outperform Amid Buying Spree"},"content":{"rendered":"
\"Asia-Pacific<\/a><\/div>\n

It was mixed feelings for major Asia-Pacific stocks, with Japan and Hong Kong markets delivering the biggest gains of the week. The South Korea market on the other hand suffered the biggest loss despite recording a strong start to the New Year, with China and Australian stocks finishing marginally lower.<\/p>\n

The cash market also witnessed some movements, with Japan’s Nikkei 225 Index recording a 1.35% gain to settle at 28519.18 while South Korea’s KOSPI Index finished at 3085.90, moving -2.10% and Hong Kong’s Hang Seng Index closed at 28573.86, up 695.64 or +2.50%. China’s Shanghai Index fell 0.10% to close at 3566.38 while Australia’s S&P\/ASX 200 finished at 6715.40, representing a 0.63% fall.<\/p>\n

Drug makers led Japan’s Nikkei with the share average reaching a new 30-year high, following a report of another effective COVID-19 treatment. Chugai Pharmaceutical championed the move, jumping 5.91% on the drug-effectiveness news, which helped to boost the drug maker index by 1.68%. The likes of Takeda Pharmaceutical, Eisai, and Shionogi & Co also gained between 1.95% and 3.38%.<\/p>\n

The Nikkei recently extended its rally into a fifth session with technology shares tracking a surge in the popular US chipmaker Intel Corp and better-than-expected core machinery orders data lifted sentiment. The gains were led by chip-related shares, tracking a 7% rise in Intel shares following the company’s announcement to replace its CEO, with expectations that the company will surpass its Q4 financial forecast.<\/p>\n

Hong Kong stocks also recorded fantastic gains, hitting a near one-year closing high and consequently posting their third straight weekly gain, a move reportedly fueled by robust mainland inflows via the Stock Connect.<\/p>\n

According to Refinitiv data, mainland investors steadily pile in, acquiring a net 14 billion Yuan ($2.16 billion) worth of Hong Kong stocks via the Stock Connect linking mainland and the Asian financial hub to shrug off the latest Sino-U.S. tensions.<\/p>\n

In a similar vein, investors in Asia and Europe snatched up discounted Chinese stocks affected by a U.S. investment ban to find bargains as giant American funds bail out and allay concerns of the sanctions hurting the prospects of the companies.<\/p>\n

The scrap of the planned investment ban involving the likes of Alibaba and Tencent has been attributed to the boost in Hong Kong shares, with reports of a possible big U.S. stimulus package also driving up sentiment. Consequently, Hong Kong shares of Alibaba and Tencent recorded 5% and 5.62% gains respectively, pushing the IT sector sub-index 4.46% higher.<\/p>\n

Media Contact<\/span>
Company Name:<\/strong> Sapporo Capital Ltd.<\/a>
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> +815032050850
Address:<\/strong>M-507 Shinjuku MAYNDS Tower 2-1-1
City:<\/strong> Yoyogi
State:<\/strong> Shibuya-ku
Country:<\/strong> Japan
Website:<\/strong> https:\/\/sapporocapital.com<\/a><\/p>\n

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It was mixed feelings for major Asia-Pacific stocks, with Japan and Hong Kong markets delivering the biggest gains of the week. The South Korea market on the other hand suffered the biggest loss despite recording a strong start to the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,425,426,419],"tags":[],"class_list":["post-526887","post","type-post","status-publish","format-standard","hentry","category-Business","category-Finance","category-Financial-Market","category-Media-Communications"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/526887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=526887"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/526887\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=526887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=526887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=526887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}