"Asian Stocks" Mixed Developments in Asia-Pacific Stock Markets, Hong Kong Stocks Rise 1.4% to a Four-Year High, Japan, South Korea, and Taiwan Stocks Retrace

The Asia-Pacific stock markets developed mixed this morning (17th), with stocks in Japan, South Korea, Taiwan, and Australia/New Zealand retreating, while stocks in Shanghai, Shenzhen, Hong Kong, India, and most Southeast Asian markets rose. Among them, Hong Kong stocks rose 1.4%, outperforming the regional markets. The market continues to watch for the results of the Federal Reserve's interest rate decision.

The People's Bank of China conducted a net injection of 114.5 billion yuan through reverse repurchase operations in the open market. The Shanghai Composite Index reported 3,877 points at midday, up 15 points or 0.4%; the Shenzhen Component Index reported 13,197 points, up 133 points or 1%. The Hang Seng Index rose 373 points or 1.4%, reporting 26,812 points, with a turnover of nearly 192.4 billion yuan. The Taiwan Weighted Index fell 161 points or 0.6%, reporting 25,468 points. TSMC and MediaTek fell 0.8% and 1%, while Hon Hai fell 1.6%, and Largan Precision rose 0.4%.

The Japanese Nikkei Index fell 53 points or 0.1% in the afternoon, reporting 44,846 points. Tokyo Electron rose 5.8%, while Advantest and Renesas Electronics fell 1.9% and 1.5%, respectively, and SoftBank fell 1.3%. The South Korean Kospi Index fell 24 points or 0.7%, reporting 3,425 points. SK Hynix retreated 2.7%, and Samsung Electronics fell 0.6%.

The Indian Nifty 50 Index rose 75 points or 0.3%, reporting 25,314 points. Tata Consumer Products rose 3%, and aerospace and defense electronics company Bharat Electronics rose 2.4%.

The Australian S&P/ASX 200 Index fell 58 points or 0.7% at the close, reporting 8,819 points. BHP suspended some coking coal operations in Australia and laid off workers, with its stock price falling 1.2%, while Rio Tinto fell 1.5%. Retail stock Westfarmers fell 2.1%. The New Zealand Exchange 50 Index fell 38 points or 0.3% at the close, reporting 13,196 points. The Singapore Straits Times Index fell 12 points or 0.3%, reporting 4,325 points. UOB and OCBC Bank fell 0.7% and 0.5%, respectively. The stock markets in Thailand, Malaysia, and Indonesia each rose 0.1%, the Philippine stock market rose 0.5%, the Hanoi stock market in Vietnam rose 0.2%, while the Ho Chi Minh stock market fell 0.1%