Asia-Pacific markets mixed; South Korea’s GDP grows slowest in year

Shoppers on the shopping street in the Hongdae district in Seoul, South Korea, on Saturday, July 2, 2022.

Woohae Cho | Bloomberg | Getty Images

Shares in the Asia-Pacific were mixed on Thursday as investors processed economic data in the region.

Japan’s Nikkei 225 was slightly lower early in trading, while the Topix lost 0.29%.

In Australia, the S&P/ASX 200 rose 0.46%. The Kospi rose 0.7% while the Kosdaq gained 0.57%.

The broadest MSCI index of Asia-Pacific stocks outside of Japan was up 0.51%.

South Korea’s GDP in the third quarter grew 0.3% from the previous quarter, according to official preliminary data – the slowest growth since the third quarter of 2021. China will report industrial gains for September and the Bank of Japan will begin its two-day monetary policy meeting on Thursday.

In company news, Samsung Electronics announced its third-quarter profit after releasing estimates earlier this month.

On Wall Street, the Nasdaq fell 2.04% overnight to close at 10,970.99. The S&P 500 lost 0.74% to 3,830.60 points. The Dow Jones Industrial Average rose 2.37 points, roughly flat for the day, ending at 31,839.11.

Leave a Comment