Hong Kong stocks stopped trading due to storm Nangka, the Chinese market was quiet


Hong Kong stocks were paralyzed by storm Nangka, the Chinese market was quiet

Hong Kong stock market suspended trading in this morning on October 13 due to the influence of typhoon Nangka while other markets in Asia were mixed.

Investors track stock movements at a securities brokerage unit, Anhui province, China on October 9. Photo: AFP

Mainland China stocks this morning 13/10 still dipped after the news that the country’s export turnover (in yuan) in the third quarter of 2020 increased two-digit to 10.2% over the same period years ago, according to China Customs. China is expected to announce import and export turnover (in US dollars) in September by the end of today.

The Shanghai Composite Index fell 0.5% this morning, while the Shenzhen Component Index slipped 0.147%.

Japanese stocks also “floor red” with two indexes Nikkei 225 and Topix decreased respectively 0.14% and 0.11%. On the Korean market, the Kospi index lost 0.59%.

Australian stocks rose the most in Asia – Pacific region when the S & P / ASX 200 index reached 1.1% increase. Overall, the MSCI Asia-Pacific (excluding Japan) still fell 0.11%.

Shares of Apple partners in Asia were in the sights of many regional investors after shares of the US technology firm last night soared. Following Apple, shares of Murata Manufacturing rose 1.38%, while shares of Taiyo Yuden rebounded nearly 3% stronger. South Korean shares LG Display, by contrast, slipped 0.31 percent while Taiwan’s Largan Precision slid further to 3.24 percent.

Apple shares rose 6.35% last night as investors expected new generation iPhones (iPhone 12) to be released this week. It was also Apple’s strongest rally since July 31, when Apple shares closed up 10.47 percent after three months of net selling.

US stocks last night also “green” with all three major indexes increased strongly. The Dow Jones industrial average closed at 28,837.52 points, up 250.62 points, or 0.9%. The S&P 500 rose 1.6 percent and ended the session at 3,534.22 points, while the Nasdaq Composite accelerated with 2.6 percent to 11,876.26 points.

The money market continued to see the greenback depreciate. The US dollar index against other major currencies declined to 93,173, compared with 93.6 set last week. Japanese Yen strengthened and converted 105.35 JPY / USD compared to 105.6 JPY / USD established yesterday, while the Australian dollar remained around 1 AUD / 0.7166 USD.

Oil prices on the Asian market this morning increased slightly. Futures price of Brent oil fluctuated around 41.74 USD / barrel, while US crude oil futures traded flat and traded 39.44 USD / barrel.

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