2023-04-21 09:26:54
Alibaba fell 3.1 percent and Tencent lost 1.4 percent. Partly as a result, the Hang Seng index in Hong Kong fell 0.6 percent. The stock exchange in Shanghai lost 1.1 percent due to the ongoing geopolitical tensions around Taiwan. Chinese Foreign Minister Qin Gang stated that both sides of the Taiwan Strait belong to China and that it is right and proper for China to maintain its sovereignty.
US Treasury Secretary Janet Yellen also said in a speech that the United States is seeking “constructive and fair” economic ties with China. However, the US will protect its national security interests and continue to oppose China’s actions to dominate foreign countries.
0.4 percent stock
The Nikkei in Tokyo was down 0.4 percent shortly before the close of trading. Figures from the Japanese government showed that inflation excluding fresh food prices remained unchanged at 3.1 percent in March from a month earlier. The increase in consumer prices in the country is therefore above 3 percent for the seventh month in a row. Next week, the Bank of Japan will hold its first policy meeting under new governor Kazuo Ueda. The Rakuten Bank share also experienced a successful IPO in Tokyo and was worth more than a third on the first trading day.
Stock markets in South Korea and Australia also fell. The Kospi in Seoul was lowered 0.9 percent in the meantime. South Korean chip companies Samsung and SK Hynix gained 0.3 and 1.6 percent thanks to well-received quarterly figures from Taiwanese competitor TSMC. The All Ordinaries in Sydney fell 0.4 percent.
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