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Asia Mixed on Slow Korean Growth

Shares in the Asia-Pacific were mixed Thursday as investors digest economic data in the region.

The Nikkei 225 eased off 86.8 points, or 0.3%, to 27,345.24.

The Bank of Japan begins its two-day meeting on monetary policy Thursday. In corporate news, Samsung Electronics announced its third quarter earnings after releasing estimates earlier this month.

In Hong Kong, the Hang Seng jumped 110.27 points, or 0.7%, to 15,427.94, boosted by tech stocks.

South Korea’s third-quarter GDP grew 0.3% from the previous quarter, the slowest growth since the third quarter of 2021. China’s industrial profits for January to September fell 2.3% compared to a year ago, the National Bureau of Statistics reported.

CHINA

In Shanghai, the CSI 300 fell 25.76 points, or 0.7%, to 3,631.14.

Industrial profits in China for January to September fell 2.3% from the same period a year ago, according to official data from the National Bureau of Statistics.

The decline is slightly steeper than the 2.1% drop reported for the January-August period for the year.

Profits at manufacturing companies fell 13.2% in the first nine months of the year, data showed.

In other markets

In Taiwan, the Taiex hiked 197.32 points, or 1.6%, to 12,926.39.

In Korea, the Kospi index moved upward 39.22 points, or 1.7%, to 2,288.78.

In Singapore, the Straits Times Index nosed ahead 6.86 points, or 0.2%, to 3,015.24.

In New Zealand, the NZX 50 galloped 54.02 points, or 0.5%, to 11,100.52.

In Australia, the ASX 200 increased 34.26 points, 0.5%, to 6,845.13.