Asia-Pacific Stocks Take a Hit, Some Sectors Show Resilience

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Asia-Pacific Stocks Take a Hit, Some Sectors Show Resilience
Credit: © Reuters.

Asia-Pacific stock markets experienced significant declines on Friday, with major indices across the region closing in the red. Japan's Nikkei 225 Index fell by 0.5%, Hong Kong's Hang Seng Index by 0.7%, China's Shanghai Composite Index and Singapore's FTSE Straits Times Index both by 0.7%, South Korea's KOSPI Composite Index by 1.7%, and Australia's S&P/ASX 200 Benchmark Index by 1.2%.

Among the key losers were ENN Energy Holdings (HK: 2688 ) in Hong Kong, which dropped by 4.8%, and Taiyo Yuden (OTC: TYOYY ) in Japan, which fell by 4.2%. Other companies facing losses included Shenzhou Intl Group, Mitsubishi Chemical Group, Baidu (NASDAQ: BIDU ), and Ricoh.

Despite the overall downward trend, gains were seen in certain sectors. Orient Overseas Intl in Hong Kong rose by 2.9%, while Daiichi Sankyo in Japan surged impressively by 14.4%. Inpex (TYO: 1605 ) Corp. saw a 2.2% increase, and Yokohama Rubber rose by 1.8%.

In the real estate sector, property management firm Country Garden (HK: 2007 ) Svcs and real estate services company New World Development also saw increases of 2.5% and 2.1% respectively, indicating some resilience amidst the general market downturn.

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