Asian Stocks Started The Day With A Fall

Asian stock markets kicked off Thursday with sales pressure. Industrial profitability in China rose strongly in April.

Asian stocks started the day with a fall. Stocks in the Asia Pacific region mostly fell as investors focused on April industry profitability from China. Even though Hong Kong's Hang Seng Index declined, Xiaomi stock rose 2 percent on revenue, 55 percent in the first quarter compared to the same period the previous year, as the Chinese smartphone company announced on Wednesday. Shenzen and Shanghai Indices depreciated in mainland China. Nikkei 225 and Topix in Japan and Kospi in South Korea followed a course in negative territory. According to the current data announced by the National Statistics Bureau, in April, industry profitability increased by 57 percent on an annual basis in China. According to a statement made by the Chinese Ministry of Commerce, it was noted that a constructive, utilitarian phone conversation was held between US Trade Representative Katherine Tai and Chinese Deputy Prime Minister Liu He. Accordingly, the first US-China meeting was held after the arrival of the Biden administration. Due to the coronavirus outbreak in Japan, 1,500 businesses have filed for bankruptcy since February 2020. According to the news evaluated by public broadcaster NHK, Teikoku Databank has examined companies that have filed for bankruptcy and criminal liquidation since February 2020. According to the reviews, the food and beverage sector with 250 companies ranks first among 1500 enterprises that declared their bankruptcy across the country. In the last year, 140 construction companies and 89 tourism accommodation companies went bankrupt. In the news in question, it was stated that if the state of emergency applied against the coronavirus epidemic is extended for the third time, bankruptcy rates will continue to rise.