Asia Pacific Markets Rise despite Negative Sentiment from China’s Property Sector

On Monday morning (29 Jan, 9:52 AM, GMT+7, Bangkok time), most major indices in Asia Pacific increased despite the share price contraction of Evergrande, one of China’s largest property developers in the past, while the trading of its shares were halted later in the morning following the court’s order regarding the liquidation of the company.


Japan’s NIKKEI rose by 0.92% to 36,079.14. South Korea’s KOSPI grew by 1.24% to 2,509.26, and Australia’s ASX 200 surged by 0.2% to 7,570.6.

As for stocks in China, Shanghai’s SSEC decreased by 0.35% to 2,900.09. Shenzhen’s SZI edged down by 1.07% to 8,668.65, while Hong Kong’s HSI climbed by 1% to 16,112.43.


Meanwhile, the US stocks market slid on Friday as NASDAQ dropped by 0.36% to 15,455.36. S&P 500 declined by 0.07% to 4,890.97, while the Dow Jones Industrial Average (DJIA) rose by 0.16% to 38,109.43. VIX edged down by 1.41% to 13.26.


As for commodities, oil prices settled higher on Friday as oil demand expectations expanded by the US’ larger-than-expected economic growth, China’s stimulus measure, and the conflict in the Middle East. Brent climbed $1.12 or 1.36% to $83.55 per barrel, and the West Texas Intermediate (WTI) grew 65 cents or 0.84% to $78.01 a barrel.

This morning, Brent increased 23 cents or 0.28% to $83.78 a barrel, and WTI gained 26 cents or 0.33% to $78.27 per barrel. 

Meanwhile, gold futures rose by 0.27% to $2,022.8 per Troy ounce.