Hong Kong, Tokyo and Seoul both faced midweek sales talc. The only major stock market to go upward in the region was Shanghai. And that’s largely thanks to automakers and the pharmaceutical sector.
Stock exchanges in both Shanghai and Shenzhen edged upward during Wednesday’s trading. Shanghai’s aggregate index firmed 0.66, with the main Shenzhen then down 1.68 percent. Chinese markets have been dragged upward in particular by shares of automotive and pharmaceutical firms. Electric car manufacturers strengthened by nearly 6 per cent; the healthcare sector then accounted for over 2.5 per cent.
By contrast, Hong Kong, Tokyo and Seoul both headed in the opposite direction. The Hong Kong exchange’s Hang Seng index weakened 0.4 percent, plunging to its lowest level since mid-May. It has been pushed down by virtually all sectors, led by technology and financial institutions.
Tokyo’s Nikkei index lost just under a percent, Seoul’s KOSPI 0.6 percent. In both Tokyo and Seoul, stocks of tech firms were mainly behind the decline. Concerns about the spread of coronavirus disease, cases of which have been increasing, were added on the Tokyo floor.