2023-10-18 07:17:58
The Tokyo Stock Exchange finished close to balance on Wednesday, shared between a Chinese GDP that was less bad than expected and concerns about American monetary policy and the highly flammable situation in the Middle East.
Starting on a decline, the flagship Nikkei index finished stable (+0.01% to 32,042.25 points) and the broader Topix index gained 0.14% to 2,295.34 points. The Hong Kong Stock Exchange was down slightly (-0.17% around 06:45 GMT).
Growth in China slowed down in the third quarter against a backdrop of the real estate crisis shaking the country, but it was still higher than expected (+4.9% over one year), according to official figures released on Wednesday. Retail sales in the country also accelerated sharply in September, an encouraging sign of the recovery in consumption.
But stock markets in Asia also paid the price of renewed concern about yet another tightening of monetary policy in the United States after the publication on Tuesday of the country’s macroeconomic indicators that were more robust than expected, which made raise US bond rates.
Investors also continue to follow developments in the war in the Middle East, as a strike on a hospital in Gaza left several hundred dead on Tuesday and the origin of this shot remained controversial for the moment.
Pharma suffered
The Japanese pharmaceutical sector suffered on Wednesday, especially Daiichi Sankyo (-4.6%). The results of two clinical trials for an anti-cancer drug it developed with the Swedish-British AstraZeneca have disappointed analysts.
Takeda (-1.36%) announced on Wednesday that it had settled an old tax dispute with Ireland for 130 million euros, which it had inherited since its purchase of the Irish laboratory Shire in 2018.
Oil accelerates
Oil prices were rising sharply due to renewed concerns about a widening conflict in the Middle East. Around 06:20 GMT the barrel of American WTI gained 2.2% to 88.57 dollars and the barrel of Brent from the North Sea gained 1.99% to 91.69 dollars.
On the foreign exchange market, the dollar was trading for 149.65 yen around 06:30 GMT (-0.11%) and the euro was almost stable at 158.49 yen (+0.02%). The European currency also rose to 1.0588 dollars (+0.1%).
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