Investor mood was lifted as Tokyo looks to spark an AI chips boom but pessimism over China’s post-Covid recovery weighed
Japan’s benchmark saw a second successive drop after reaching 33-year highs last week while Hong Kong’s main index tracked the global sell-off too
Japan’s benchmark dropped as bargain-buyers swooped while Hong Kong’s main index fell with confidence waning in China’s recovery
Bargain buying pushed Japan’s benchmark even higher while Chinese chip firms were lifted by Beijing’s ban on Micron Technology products
Japan’s benchmark was boosted by muscular domestic earnings and a weaker yen while Hong Kong’s main index struggled
Investors were in upbeat mood as plans for huge tech investments in Japan were unveiled and China traders snapped up AI stocks
China investors remained in downbeat mood over data signalling a wobbly recovery while Japan’s exporters were lifted by a stronger US dollar
Tokyo’s benchmark Nikkei also hit its highest close in 18 months with investors drawn in by Japan’s strong economic outlook
Investors continue to be distracted by persistent inflation, rate hike threats, a possible banking crisis and a gloomy outlook for the world’s top two economies
Investors were distracted by factory gate deflation in China while hopes of rate hikes easing in the US were clouded by its debt ceiling standoff
The release of critical US inflation figures later in the day preoccupied traders with worries of more resultant rate hikes dampening the mood
Strong corporate earnings reports fuelled a rally by Tokyo’s main benchmark while disappointing trade figures dampened the mood in Hong Kong