Asia-Pacific shares were mostly higher on Wednesday as the reading for China’s November factory activity fell short of expectations, dropping to the lowest reading since April 2022.
In Japan, the Nikkei 225 fell 58.85 points, or 0.2%, to 27,968.99.
Japan’s Fast Retailing and electric-vehicle maker Xpeng are set to report earnings, and Fed Chair Jerome Powell will be delivering a speech at the Brookings Institution on Wednesday.
Japan’s preliminary industrial production for October declined 2.6% compared to a month ago, more than expectations of a decline of 1.5%, according to a Reuters poll.
The reading marks the second consecutive decline after seeing a fall of 1.7% the previous month.
In Hong Kong, the Hang Seng jumped another 392.55 points, or 2.2%, to 18,597.23.
Hong Kong-listed shares of Bilibili popped as much as 12.7% in Asia’s morning after the company beat revenue estimates for the third quarter of the year.
Net revenue came in at 5.79 billion Chinese yuan ($809.8 million U.S.), 11% higher than the same period in 2021. Estimates from Refinitiv Eikon predicted revenue of 5.52 billion yuan.
Net losses narrowed to 1.7 billion yuan, and average monthly active users grew 25% on an annualized basis.
South Korea’s industrial production also fell by 3.5% compared with a month ago, also lower than expectations of a decline of 1%. The reading marked the lowest since May 2020, when output declined 6.7%.
Australia’s consumer price index for October slowed to 6.9% on an annualized basis, from 7.3% in September, according to a monthly indicator by the Australian Bureau of Statistics.
The rise in prices for housing, food and non-alcoholic beverages, as well as transport led the overall CPI indicator higher.
CHINA
In Shanghai, the CSI 300 added 4.62 points, or 3.1%, to 3,853.04,
Chinese health officials on Tuesday announced measures to boost vaccination among the elderly, an indicator which is seen as important for reopening the economy, while saying it is “closely watching the virus” for developments when asked if the ongoing unrest would lead to a shift in its zero-COVID policy.
China’s official manufacturing Purchasing Managers’ Index for November came in at 48, below the 50-point mark that separates growth from contraction.
That’s lower than the expectations of analysts polled by Reuters, who predicted a reading of 49. October’s PMI was 49.2.
In other markets
In Taiwan, the Taiex picked up 169.91 points, or 1.2%, to 14,879.53
In Korea, the Kospi index moved forward 39.14 points, or 1.6%, to 2,472.53.
In Singapore, the Straits Times Index advanced 14.13 points, or 0.4%, to 3,290.49.
In Australia, the ASX 200 picked up 30.86 points, or 0.4%, to 7,284.17.
In New Zealand, the NZX 50 hiked 156.69 points, or 1.4%, to 11,552.04.
