Asian Markets Gain as Hong Kong Suspends Trading on Typhoon Nangka
Trading in Hong Kong was suspended on Tuesday due to Typhoon Nangka, while other Asia-Pacific markets were mostly higher.
Hong Kong Exchanges and Clearing announced Tuesday that trading in the securities and derivatives markets, including after-hours futures trading, have been cancelled for the full day due to the typhoon.
Mainland Chinese stocks were higher on the day, as the Shanghai composite rose slightly to about 3,359.75 while the Shenzhen component added 0.66% to around 13,798.58.
China’s exports and imports of goods hit a record in yuan-denominated terms in September, according to a Tuesday Reuters report citing a spokesperson for the national customs agency.
In U.S. dollar terms, China’s exports rose 9.9% in September as compared to a year ago. That was close to expectations of a 10% year-on-year increase by analysts in a Reuters poll.
In Japan, the Nikkei 225 rose 0.18% to close at 23,601.78 while the Topix index finished its trading day 0.35% higher at 1,649.10. South Korea’s Kospi was below the flatline, closing at 2,403.15.
Shares in Australia led gains among the region’s major markets, as the S&P/ASX 200 gained 1.04% to close at 6,195.70.
MSCI’s broadest index of Asia-Pacific shares outside Japan was about 0.1% higher.
Shares of Apple suppliers in Asia-Pacific were mostly higher on Tuesday.
In Japan, shares of Murata Manufacturing gained 3.92% while Taiyo Yuden added 3.93%. Elsewhere, South Korea’s LG Display jumped 1.57%. Over in Taiwan, however, Largan Precision dropped 3.88%.
The moves were watched after Apple’s stock stateside soared on Monday. The Cupertino-based tech giant is expected to reveal its new iPhone lineup this week.
Shares of Australian coal miners were mixed on Tuesday, after Australia said it’s investigating media reports that China has stopped taking coal shipments from the country, according to Reuters. China is the largest importer of Australian coal, Reuters reported.
By their Tuesday market close, shares of Whitehaven Coal rose 0.51%. New Hope Corporation, on the other hand, plummeted 7.31%. South32 also slipped 1.37%. Major miner BHP also saw its stock decline 0.36%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.212 following its decline last week from levels above 93.6.
The Japanese yen traded 105.38 per dollar after strengthening from levels around 105.6 against the greenback yesterday. The Australian dollar was at $0.7177, still above levels below $0.715 seen last week.
Oil prices were higher in the afternoon of Asian trading hours, with international benchmark Brent crude futures up 0.31% to $41.85 per barrel. U.S. crude futures were 0.3% higher at $39.55 per barrel.