Hong Kong stocks and mainland China markets fell sharply Monday while other major Asia-Pacific markets rose.
The Nikkei 225 recovered 84.32 points, or 0.3%, to conclude the week’s first session at 26,974.90.
Authorities in Japan reportedly intervened in the forex market on Friday, causing the yen to strengthen sharply. But the currency continued to seesaw. On Monday in Asia, the currency briefly strengthened to 145-levels but was last at 149.25 per dollar.
In Hong Kong, the Hang Seng was hammered 1,030.43 points, on 6.4%, to 15,180.69, its lowest levels since April 2009
Tai Hui, JPMorgan Asset Management’s APAC chief market strategist, said a combination of factors has been driving the Hong Kong market recently, including higher U.S. Treasury yields.
CHINA
In Shanghai, the CSI 300 fell 109.52 points, or 2.9%, to 3,633.37.
Investors may also have expected policy measures to be announced during the Communist Party of China’s 20th National Congress, which closed over the weekend with President Xi Jinping loyalists tapped to form a core leadership group.
China’s gross domestic product grew 3.9% in the third quarter from a year ago, data from the National Bureau of Statistics showed. Analysts polled by Reuters expected 3.4% growth.
In other markets
In Taiwan, the Taiex regained 37.78 points, or 0.3%, to 12,856.98.
In Korea, the Kospi index picked up 23.04 points, or 1.9%, to 2,236.16.
In Australia, the ASX 200 climbed 102.61 points, 1.5%, to 6,779.36.
Markets in New Zealand and Singapore were shuttered for holiday.
