asia

Asia Stocks Set for Mixed Open; China's Industrial Profits Data for April Ahead


  • Industrial profits in China soared 57% year-on-year in April, the National Bureau of Statistics said Thursday.
  • Shares of Xiaomi in Hong Kong jumped almost 2% by Thursday afternoon after the Chinese smartphone maker on Wednesday reported a nearly 55% surge in its first quarter revenue as compared with the same period a year earlier.

SINGAPORE — Shares in Asia-Pacific were mixed in Thursday trade as investors reacted to the release of Chinese industrial profits data for April.

Hong Kong’s Hang Seng index dipped 0.3%. Shares of Xiaomi in Hong Kong jumped 1.95% by Thursday afternoon after the Chinese smartphone maker on Wednesday reported a nearly 55% surge in its first quarter revenue as compared with the same period a year earlier.

Mainland Chinese stocks were higher by the afternoon, with the Shanghai composite rising 0.18% while the Shenzhen component gained 0.375%. Industrial profits in China soared 57% year-on-year in April, the National Bureau of Statistics said Thursday.

The Nikkei 225 in Japan slipped 0.45% while the Topix index declined 0.33%. Over in South Korea, the Kospi fell 0.28%.

Australia’s S&P/ASX 200 edged 0.26% higher.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.22%.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.038 following a recent climb from below 89.7.

The Japanese yen traded at 109.06 per dollar, weaker than levels below 108.9 against the greenback seen yesterday. The Australian dollar was at $0.7741, as compared to levels above $0.777 seen yesterday.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures slipping 0.65% to $68.42 per barrel. U.S. crude futures shed 0.6% to $65.81 per barrel.



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