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Earnings, Beijing Outlook Churn Asian Stock Markets
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Earnings, Beijing Outlook Churn Asian Stock Markets
Nov 3, 2024 1:32 PM

06:35 AM EDT, 10/29/2024 (MT Newswires) -- Asian stock markets were mixed and muted on Tuesday, as earnings reports helped exchanges in Japan gain, while China trading floors fell back ahead of a key macroeconomic session slated for next week in Beijing.

Hong Kong and Tokyo finished in the green, while Shanghai lagged. Other regional exchanges were also uneven.

In Japan, the Nikkei 225 opened evenly and rose to the close, finishing up 0.8% on generally good earnings season results.

The benchmark Nikkei 225 rose 298.15 to 38,903.68, as gaining issues outnumbered losers 181 to 44.

Leading the upside was online medical services outfit M3, up 6.5%, while plumbing fixtures maker Toto declined 12.6%.

In economic news, Japan's unemployment rate declined to 2.4% in September from 2.5% in August, reported Statistics Japan.

The were 124 job openings per 100 job hunters in September, up from 123 such openings in August, added the Ministry of Health, Labor and Welfare.

In Hong Kong, the Hang Seng Index opened higher, undulated, but held ground, finishing up 0.5% after a strong earnings report from bellwether bank HSBC.

The broad gauge Hang Seng rose 101.78 to 20,701.14, although losing issues outnumbered gainers 48 to 30. The Hang Seng TECH Index gained 1.1% on the day, while the Mainland Properties Index fell 1.2%.

Leading the upside was HSBC, gaining 3.7%, while aluminum-producer China Hongqiao declined 4.1%.

On the mainland, the Shanghai Composite fell 1.1% to 3,286.41. Traders are awaiting for economic stimulus news from the important National People's Congress Standing Committee meeting slated for Nov. 4 to Nov. 8 in Beijing.

On the other regional exchanges, the S. Korean KOSPI rose 0.2%; the Taiwan TWSE declined 1.2%; the Australian ASX 200 inclined 0.3%; the Singapore Straits Times Index rose 0.2%, and the Thai Set declined 0.1%. In late trading in Mumbai, the Sensex was up 0.5%.

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