Stocks in the Asia-Pacific region continue to rise, with Hong Kong and Japanese markets recording gains for the second consecutive day. Standout performers include real estate services company Country Garden Holdings, while Orient Overseas Intl exper...
Troy D. Hanson
August 29, 2023
Hong Kong and Japanese markets recorded gains for the second consecutive day on Tuesday, Aug. 29. The Hang Seng Index in Hong Kong increased by 1.9% to reach 18,484.03, while the Nikkei 225 Index of Japanese companies rose by 0.2% to 32,226.97.
In China, the Shanghai Composite Index climbed by 1.2% to reach 3,135.89, and Singapore's FTSE Straits Times Index saw a 0.3% increase to 3,222.19. South Korea's KOSPI Composite Index rose by 0.3% to 2,552.16, and Australia's S&P/ASX 200 Benchmark Index added 0.7% to reach 7,210.50.
Standout Performers and Decliners
Among the constituents of the Hang Seng Index, the greatest increase on Tuesday was seen by real estate services/transactions company Country Garden Holdings, with shares surging by a significant 12.3%. Meanwhile, property managers firm Country Garden Svcs and semiconductors company Semiconductor Mfg Intl experienced gains of 9.9% and 7.2%, respectively.
In terms of decliners in Hong Kong, shares of marine transport company Orient Overseas Intl fell by 1.2% on Tuesday.
Looking at the Nikkei 225 Index constituents, electric power generation company Tokyo Electric Power witnessed the largest increase on Tuesday, with shares rising by 5.3%.
Shipbuilding firm Mitsui E&S and glass/glass products company Nippon Sheet Glass gained 4.5% and 3.5%, respectively. However, semiconductors company Renesas Electronics saw the largest decrease, with shares declining by 2.0%.
Shares of measuring/precision instruments firm Keyence and toys/games company BANDAI NAMCO Holdings fell by 1.5% and 1.4% respectively.