Asian markets rally on Friday Expert Advisors MetaTrader RobotFX



Major Asian indicators are on the rise again. The Hang Seng Index and the Nikkei 225 were the biggest gainers, adding 1.78% and 1.28% respectively. The Shanghai Composite and the Shenzhen Composite posted the smallest increase, rising by 0.14% and 0.2% respectively. The KOSPI and the S&P/ASX 200 edged up by 0.5% and 0.47% respectively.

Rising US indexes on Thursday contributed to the positive mood among investors. The main US stock indexes gained as much as 1.1% after several straight days of losses.

Chinese inflation data provided additional support to Asian markets. Over the past month, inflation in China declined to 1.6% from 2.1% in October. In contrast to the producer price index, consumer prices hit the lowest level in six months and matched expectations of analysts. The PPI fell by 1.3%, while experts forecasted a decline by 1.4%.

On the Hang Seng Index, stocks of real estate development companies have increased. Longfor Group Holdings, Ltd. rose by 10%, China Resources Land, Ltd. gained 8.9% and Country Garden Holdings, Co. Ltd. added 8.5%.

These gains followed reports that one of the related companies managed to restructure its debts. Sunac China Holdings, Ltd. announced its intention to convert previously issued bonds amounting to $3-4 billion into shares. The company will issue additional bonds to cover the rest of the debt.

Shares of Furukawa Electric, Co. Ltd., gained 5.4%, Tokyo Electric Power, Co. Holdings, Inc. increased by 5.3%, Advantest, Corp. rose by 4.9% and Shiseido, Co. Ltd. added 3%.

South Korean stocks on the KOSPI also advanced, with Samsung Electronics gaining 2% and Hyundai Motor increasing by 0.3%.

Korea Electric Power, Corp. jumped by 6.7% after the company decided to raise its electricity bills in 2023 to avoid bankruptcy.

Stocks on the S&P/ASX 200 rose as well, with BHP adding 2.7% and Rio Tinto gaining 2.3%.

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