Asia-Pacific markets little changed ahead of China activity data release – CNBC

Hong Kong-listed Chinese technology stocks jump early in sessionHong Kong-listed shares of Chinese technology companies rose significantly in the first hour of trade.Tencent rose 7.6%, Meituan gained 5.9%, and Alibaba rose 9%. The Hang Seng Tech index was up around 4%.The moves come despite disappointing activity and retail sales data from China, and following U.S. President Joe Biden and Chinese President Xi Jinping’s meeting ahead of the G-20 summit in Bali.Safanad’s chief investment strategist said the discussion between the two leaders went “much better” than expected, though he mostly credited that to low expectations.— Jihye LeeTSMC shares jump more than 9% on Berkshire Hathaway stake newsShares of Taiwan Semiconductor Manufacturing Company listed in Taiwan jumped after Berkshire Hathaway disclosed a $4 billion stake in the company.The stock soared as much as 9.44%, reaching the highest levels in nearly two months.Berkshire added more than 60 million shares of the Taiwanese chipmaker’s American depositary receipts, worth $4.1 billion (1.2% of TSM) by the end of the third quarter, making Taiwan Semi the conglomerate’s 10th biggest holding at the end of September.The stock was last up around 8%. – Yun Li, Jihye LeeChina’s industrial output, retail sales miss expectations in OctoberChina’s industrial production
Read More