Asia opens mostly lower

Economies.com
2020-10-29 05:09AM UTC

Asian stock indices opened the fourth session of the week mostly lower, with Japan, Australia, New Zealand, and South Korea down, while Chinese stocks gained ground as the coronavirus second wave continues to ravage the world. 

 

Earlier Japanese data showed retail sales fell 0.1% in September m/m, while falling 8.7% y/y. 

 

Bank of Japan voted to maintain rates at minus 0.10% as expected while pledging to maintain 10-year government yields at zero. 

 

Japan's consumer sentiment index improved to 33.6 from 32.7, missing estimates of 35.2. 

 

From New Zealand, an index tracking business sentiment fell to minus 15.7 from minus 14.5 in October. 

 

China's Communist Party officials continue their meetings to plan out the next fix years for the world's second biggest economy. 

 

From the US, GDP growth is expected up 32% in the third quarter, compared to a 31.4% contraction in the second quarter. 

 

Investors now don't expect US Covid relief before the November elections, while the World Health Organization reported 43.77 million Covid 19 cases so far worldwide, with the death toll at 1.163 million. 

 

UK-EU officials have reportedly achieved some progress in trade talks, raising hopes for a deal before transition ends in a few weeks.

 

Japan's TOPEX fell 0.22% to 1,608, while Nikkei 225 shed 0.43% to 23,317. 

 

China's CSI 300 rose 0.50% to 4,760, while Shanghai rose 0.08% to 3,271. 

 

Hong Kong's Hang Seng fell 0.93% to 24,478, as South Korea's KOSPI declined 1.57% to 2,308. 

 

New Zealand's NZX 50 fell 0.51%, while Australia's S&P/ASX 200 fell 1.71% to 5,954. 

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