Buy unleashed on the Hong Kong stock exchange, which was closed yesterday, and today sees the benchmark equity index soar by more than 6%. The industry sub-index of the Hang Seng Tech index has soared to more than + 7.4%. The Shanghai stock exchange remains closed while the Nikkei 225 index of the Tokyo stock exchange rose by 0.48%; Seoul’s Kospi rose 0.38%, Sydney jumped 1.74%.
From the macroeconomic front of South Korea, inflation measured by the consumer price index was disclosed, relative to the month of September, which rose on an annual basis by 5.6%, less than 5.7% in August and + 5.7% expected by economists.
Inflation slowed for the second consecutive month, reporting the lowest growth in the past four months.
The DXY US Dollar Currency Index, Dollar Index, fell sharply during Asian trading, losing up to -1.5% to 110.06.
The index jumped to 114.78, a 20-year record last week, on the back of UK debt concerns after Liz Truss’s government announced a massive tax cut plan.
The Truss executive turned around after the sales that hit the pound sterling and the Gilts government bonds and which plagued the assets of the whole world, forcing the Bank of England to intervene.
The cancellation of the plan, just 10 days after its announcement, arrived on Twitter the other day by Chancellor of the Exchequer Kwasi Kwarteng, who explained that the decision to eliminate the 45% rate of income tax – a maneuver that it would have benefited especially the richest – it had become a “distraction from our priority mission of addressing the challenges facing our country.”
Staying on the forex theme, the euro is under pressure, dropping 0.11% to 0.9972, while the pound retreated 0.26% to $ 1.1445.