Hong Kong stocks increases by 3%, leading gains in the APAC as investors look ahead to Fed minutes
As investors anticipated the release of the Fed's meeting minutes and kept an eye out for any indications of future interest rate hikes, Hong Kong shares led gains in the Asia-Pacific.
In the last hour of trading, the Hang Seng index in Hong Kong increased by 3.08%, setting the pace for gains across the region. The Hang Seng Tech index also increased by more than 3.08%. Mainland The Shenzhen Component lost 0.2% to 11,095.37, while China's Shanghai Composite edged up 0.22 percent to 3,123.52.
S&P/ASX 200 Australia ended the day at 7,059.2 up 1.63%. The Kosdaq closed down 1.29% at 683.67, while the Kospi in South Korea gained 1.79% to close at 2,255.98.
As the au Jibun Bank Flash Japan Manufacturing Purchasing manager's index for December dipped further into contraction territory, the Nikkei 225 in Japan sank 1.44% to 25,716.86 and the Topix slid 1.22% to 1,868.15
Investors are anticipating the publication of the U.S. Job Openings and Labor Turnover Survey, or JOLTS, as well as the minutes of the Fed's most recent policy meeting, all of which are scheduled to be released in the afternoon local time.
Wall Street stocks ended lower after earlier gains were given up due to worries about rising rates and high inflation; Tesla hit its lowest level since August 2020 as a result of disappointing fourth-quarter deliveries, and Apple also declined as a result of reports that it will reduce production as a result of weak demand.