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Tech, China Outlooks Roil Asian Stock Markets
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Tech, China Outlooks Roil Asian Stock Markets
Jan 23, 2025 2:50 AM

05:44 AM EST, 01/23/2025 (MT Newswires) -- Asian stock markets were choppy on Thursday as traders in Tokyo embraced the global AI story, but Hong Kong investors were underwhelmed by Beijing's latest plan to force-feed higher values on China stock exchanges.

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

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 0.8% on strength in tech-sector shares, including those of financiers SoftBank, which gained 5.1%, and are up nearly 18% in the last two days, on the announcement it would participate in $500 billion buildout of US AI infrastructure.

Export issues rose on a softer yen.

The benchmark Nikkei 225 rose 312.62 to 39,958.87, as gaining issues outnumbered losers 135 to 88.

Leading the upside was Mitsubishi Heavy Industries, up 8.6%, while Hino Motor declined 7.7%.

In Hong Kong, the Hang Seng Index opened evenly, lost traction in the afternoon, finishing off 0.4% as traders gave a cold shoulder to Beijing's latest plans to boost Chia stock market values.

The broad gauge Hang Seng fell 78.21 to 19,700.56, as losing issues outnumbered gainers 60 to 20. The Hang Seng TECH Index lost 1.4% on the day, while the Mainland Properties Index fell 2.1%.

Leading the upside was China Construction Bank, gaining 2.6%, while Semiconductor Manufacturing International declined 7.2%.

On the mainland, the Shanghai Composite rose 0.5% to 3,230.16.

In economic news, 30% of the annual insurance premium earned from new policy sales in 2025 will be invested in China's stock markets, said Wu Qing, China Securities Regulatory Commission chair, reported the South China Morning Post.

On the other regional exchanges, the S. Korean KOSPI fell 1.2%; the Taiwan TWSE was closed on holiday; the Australian ASX 200 declined 0.6%; the Singapore Straits Times Index rose 0.7%, and the Thai Set declined 1.3%. In late trading in Mumbai, the Sensex was up 0.2%.

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