Most Asia-Pacific markets fell Thursday after China’s housing ministry briefing failed to impress investors, and sent the country’s property stocks plummeting.
In Japan, the Nikkei 225 index fell 269.11 points, or 0.7%, to 38,911.19.
In Hong Kong, the Hang Seng Index lost 207.75 points, or 1%, to 20,079.10, as of its final hour of trade following a number of policy announcements from its chief executive on Wednesday. The Hang Seng Mainland Properties Index dropped 6.6%.
Japan’s exports fell 1.7% in September compared to the same period last year, surprising economists polled by Reuters who had expected a 0.5% growth. Exports, which contracted for the first time this year, were down sharply from a revised growth rate of 5.5% in August.
September’s import growth came in at 2.1% also missing expectations of economists who expected growth of 3.2%. The figure was down from August’s growth of 2.3%.
Taiwan Semiconductor Manufacturing Company reported earnings on Thursday after Taiwan markets closed. Taiex gained 0.19% to end the day at 23,053.84.
Australia’s unemployment rate for September came in at 4.1%, slightly down from a Reuters poll that expected it to remain unchanged from August at 4.2%.
Australia’s labour participation rate slightly increased to 67.2% in September, up 0.1 percentage point from August as well as forecasts.
CHINA
In Shanghai, the CSI 300 dropped 43.47 points, or 1.1%, to 3,788.22
The CSI 300 Real Estate Index dropped more than 5% following a much-anticipated briefing from the China housing ministry. The index had gained 5% in the previous session.
Longfor Group and China Vanke led losses, down 8.3% and 5.9%, respectively. China Resources Land was down 3.6%, China Overseas Land & Investment fell 5% and Yuexiu Property 4.5%.
At the briefing, officials pledged further financial support for property projects that come under its so-called ‘whitelist.’
In other markets
In Taiwan, the Taiex recovered 42.86 points, or 0.2%, to 23,053.84
In Korea, the Kospi index slipped 23.09 points, or 0.9%, to 2,610.36.
In Singapore, the Straits Times Index restocked 34.63 points, or 1%, to 3,625.25.
In New Zealand, the NZX 50 moved higher 127.22 points, or 1%, to 12,768.54
In Australia, the ASX 200 regained 71.17 points, or 0.9%, to 8,355.92.
