Stock indices of the countries of the Asia-Pacific region rose on Friday, with the exception of the Australian stock market.
Uncertainty about the situation in the global economy has a negative impact on market sentiment. On the other hand, investors are hoping that the world's central banks will support the economic recovery from the long-term crisis caused by the COVID-19 pandemic, Trading Economics writes.
Also in positive news was the news that the heads of the ministries of finance and central banks of China, Japan and South Korea agreed on Friday to redouble their efforts to restore the regional economy hit by the coronavirus pandemic.
China's Shanghai Composite Index climbed 2.1% on Friday, thanks in part to a rise in financial sector securities. Over the week, it added 2.4% after declining in the previous two weeks.
The Hong Kong Hang Seng added 0.5% on the day, but ended the week slightly in the red.
The most significant gains in Hong Kong were the shares of the telecommunications company China Unicom (+ 4.8%), the insurer China Life Insurance (+ 4.5%) and the electronics manufacturer Xiaomi Corp. (+ 3.5%).
Meanwhile, the market value of internet giant Tencent Holdings Ltd. decreased by 0.4%.
Japan's Nikkei 225 Index rose 0.2% on Friday and lost 0.3% for the week. On Monday and Tuesday, the country's financial markets will be closed due to the holidays.
Consumer prices excluding the cost of fresh food in Japan (a key indicator monitored by the Central Bank) in August fell by 0.4% compared with the same month last year, according to the Ministry of Internal Affairs and Communications of the country. In June and July, prices did not change in annual terms. The August figure was in line with the average forecast of analysts. In general, the growth of consumer prices in Japan in August slowed to 0.2% in annual terms, compared with 0.3% in the previous month. Experts predicted an average inflation rate of 0.1%, according to Trading Economics.
The growth leaders were the shares of the IT company NTT Data Corp. (+ 7.6%), as well as car manufacturer Isuzu Motors (+ 4.9%).
The market value of Asia's largest apparel retailer, Fast Retailing, rose 0.3%, while consumer electronics manufacturer Sony rose 2.4%.
The South Korean Kospi index on the basis of the last session rose by 0.3%, over the week – by 0.7%.
LG Chem's share price rose 3.3%.
Samsung capitalization (KS: 005930) Electronics Co. declined 0.3%, automakers Hyundai Motor Co. – by 1.6%.
The Australian S & P / ASX 200 Index declined 0.3% on the day.
The negative news for the market was, among other things, the news of an increase in the number of new cases of coronavirus infection in the state of Victoria.
At the same time, the market value of the world's largest mining companies BHP and Rio Tinto (LON: RIO) increased by 1.3%.