Japan’s Nikkei leads declines in Asia-Pacific markets as investors await China housing briefing
Asia-Pacific markets traded lower Wednesday, following declines on Wall Street, with Japan’s Nikkei leading losses in the region.
Investors will be watching for more stimulus measures to prop up the real estate sector in China with the country’s housing minister set to hold a press briefing on Thursday 10 a.m. local time, according to a statement from the State Council Information Office on Tuesday.
Ahead of the briefing, China’s CSI 300 Real Estate Index jumped as much as 5.8%, according to data on LSEG. The broader benchmark CSI 300 slipped 0.63% to close at 3,831.59.
Hang Seng Mainland Properties Index rose about 3.8%, while the Hang Seng index was flat, as of its final hour of trade.
Hong Kong’s chief executive John Lee pledged to bolster the government’s focus on people’s livelihoods in his annual policy address, including steps to reduce wait times for public housing.
The city’s leader also vowed to streamline procedures for companies seeking to list in Hong Kong and to attract more international company listings on the city’s stock exchange.
Traders in Asia, meanwhile, assessed economic data from the region.(Cay)
Source: CNBC
