On Tuesday (24th), Asia-Pacific stock markets showed mixed performance, with Hong Kong stocks standing out, seeing all three major indices rise by about 2%, leading the Asia-Pacific markets. The Japanese stock market was also strong, with the Nikkei 225 index gapping up and rising by 1.22%, breaking through the 38,000-point mark for the first time since early September. In contrast, Taiwan's weighted index fell by 0.46%, and South Korea's KOSPI index edged down by 0.1%.
The strong performance of Hong Kong stocks was attributed to investors' optimistic expectations for China's economic policies and continuous global capital inflow into the Hong Kong market. Additionally, the recent performance of major global markets has also provided support for Asia-Pacific stocks. The US manufacturing PMI hit a 15-month low, but rising service prices demonstrated economic vitality, with US stocks broadly gaining overnight; both the Dow Jones and the S&P 500 indexes reached new highs.
Meanwhile, Japanese economic data showed steady performance, with the services sector continuing to drive growth. The latest figures revealed that Japan's September composite PMI was 52.5, and the services PMI was 53.9, indicating an expansion trend in the services industry. Although the manufacturing PMI slightly fell to 49.6, the robust performance in services continued to support the overall economic recovery.
Long-term bullish views on the Japanese stock market were also supported by industry veterans. Yoon Hee-won, known as the "living dictionary of the Japanese stock market," pointed out that although the yen had appreciated, its impact on the medium- to long-term trend of the Japanese stock market was limited. He believed that Japanese stocks would continue their upward trend in the medium to long term, especially with the gradual recovery of the global economy, from which Japan’s export-oriented enterprises and high-tech companies would continue to benefit.
Besides the strong performance of Hong Kong and Japanese stocks, other Asia-Pacific markets showed relatively divergent performances. The Taiwan and South Korean stock markets experienced slight corrections, reflecting investors' concerns about the global economic slowdown and uncertainties regarding US Federal Reserve monetary policy. However, overall, Asia-Pacific stock markets remain on a steady recovery track, especially in the context of various countries gradually implementing policies to stimulate economic growth, maintaining optimistic market sentiment.
