Asian Markets Mixed as Chinese Stocks Diverge, Nikkei Surges

China’s stock markets closed mixed on Monday, March 3. The Shanghai Composite Index edged down 0.12%, closing at 3,316.93 points; the Shenzhen Component Index rose 0.36% to 10,649.59 points; and the ChiNext Index gained 1.20%, closing at 2,196.52 points. Sector performance was mixed, with solid-state battery stocks surging.

In Hong Kong, the Hang Seng Index gained 0.28%, while the Hang Seng Tech Index declined 0.58%. Among the most actively traded stocks, Xiaomi fell 1.74%, Alibaba rose 2.27%, Tencent gained 0.96%, SMIC dropped 4.1%, and Meituan climbed 0.37%.

Japan’s Nikkei 225 Index advanced 1.7% , with the TOPIX Index rising 1.77%. Heavyweight stocks saw broad gains, with Ishikawajima-Harima Heavy Industries surging over 7%, while Recruit Holdings, Mitsubishi Heavy Industries, and Daiichi Sankyo each climbed more than 6%. Kawasaki Heavy Industries and Tokio Marine Holdings rose over 4%, and Toyota Motor was up nearly 4%.

In other Asian markets, South Korea’s KOSPI was closed for a public holiday. Malaysia’s FTSE Bursa Malaysia KLCI fell 0.21%, closing at 1,571.39 points, while Singapore’s STI Index rose 0.34%, closing at 3,909.14 points. In India, the S&P BSE Sensex slipped 0.07%, closing at 73,146.06 points, and Indonesia’s Jakarta Composite Index saw a sharp surge of 3.97%, closing at 6,519.66 points as of 16:57 SGT.