Apple supplier shares, oil prices and currencies

SINGAPORE – Stocks in Asia-Pacific rose on Tuesday as technology stocks in the region surged after similar overnight gains for their Wall Street counterparts.

In mainland China, the Shanghai Composite Index rose 0.7% in the afternoon while the Shenzhen component was up 0.926%. Hong Kong’s Hang Seng Index climbed 1.18%.

The Nikkei 225 in Japan gained 0.67% while the Topix index rose 0.39%. South Korean Kospi climbed 0.66%.

Australian stocks were also higher, with the S & P / ASX 200 up 0.18%. The minutes of the Reserve Bank of Australia’s monetary policy meeting in October showed that the RBA expects the Australian economy “to return to growth during the December quarter and to its trajectory. pre-Delta in the second half of 2022 “.

The largest MSCI index of Asia-Pacific equities excluding Japan rose 0.99%.

Tech stocks on the rise

Tech stocks in Asia rose on Tuesday, with the Hang Seng Tech index in Hong Kong jumping 2.25%. Hong Kong listed shares of Alibaba and Meituan climbed 1.29% and 2.07% respectively.

Japanese conglomerate Softbank Group also saw its shares jump 3.01% while shares of South Korean chipmaker SK Hynix rose 0.62%.

Investors have also been watching the actions of Apple’s suppliers in Asia after the Cupertino-based tech giant announced new products on Monday.

In Japan, Taiyo Yuden shares fell 2.21% while Murata Manufacturing slipped 0.74%.

Elsewhere, shares of Taiwan Semiconductor Manufacturing Company in Taiwan jumped 1.36%. Luxshare stock in mainland China also jumped 7.07%.

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Overnight on Wall Street, the S&P 500 gained 0.34% to 4,486.46 while the Nasdaq Composite surged 0.84% ​​to 15,021.81. The Dow Jones Industrial Average fell behind, plunging 36.15 points to 35,258.61.

Currencies and oil

The The US dollar index, which tracks the greenback against a basket of its peers, was at 93.686 from a previous high of 93.947.

The Japanese yen was trading at 114.10 per dollar after weakening last week below 113.4 against the greenback. The Australian dollar changed hands at $ 0.7454, above the below $ 0.74 levels seen yesterday.

Oil prices were higher in the afternoon of Asian trading hours, with international benchmark Brent crude futures hovering slightly at $ 84.35 a barrel. US crude futures gained 0.11% to $ 82.53 per barrel.


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Felix J. Dixon

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