Asian Stocks Down, Concerns Over Inflation, China Property Market Remain By Investing.com

By Gina Lee

Investing.com – Asia Pacific stocks were mostly down on Wednesday morning as investors remained concerned about the risk from and the indebted real estate sector in China.

Japan’s fell 0.62% by 10:47 PM ET (2:47 AM GMT). The Bank of Japan will release its monetary policy decision on Thursday.

South Korea’s fell 0.71%.

In Australia, the inched up 0.06% as the (CPI) rose 0.8% in the third quarter of 2021.

Hong Kong’s down 1.80%.

China’s was down 1.12% while the fell 0.64%. Chinese authorities required China Evergrande Group’s founder Hui Ka Yan to use his personal wealth to alleviate the firm’s debts.

Due to the crisis at China Evergrande Group and other property developers in the country, a top Chinese regulator warned that companies should make “active preparations” to meet payments on their offshore bonds.

In the U.S., the reporting season has been steady overall when investors are counting on earnings to support equity prices. However, the rising raw material and wage costs and supply chain are still on investors’ radars.

“Downside risks to the economy remain but investors are opting to look beyond these as companies continue to give us plenty of reason to be optimistic about what lies ahead,” Craig Erlam, senior market analyst at Oanda, said in a note. Such “enthusiasm may come and go, creating plenty of two-way action in the markets,” he added.

On the data front, investors await and t to be released on Thursday.

Across the Atlantic, the interest rates decision will be released on Thursday.