Why Alibaba, Nio Stocks Aren't Trading In Hong Kong Today — And Here's What's On Investors' Radar In Asia

Zinger Key Points
  • Nikkei and ASX rIse over 1% each in opening trade
  • Mainland China, Hong Kong markets remain shut on account of mid-Autumn festival
  • Biden administration plans to widen curbs on U.S. semiconductor shipments to China next month

Asia-Pacific markets opened in the green on Monday over improved risk sentiment, but investors are keenly watching out for U.S. inflation data due later this week. 

Japan’s Nikkei and Australia’s ASX rose over 1% at the open on Monday, while mainland China and Hong Kong markets were closed for on account of the mid-Autumn festival.

Currency: Japan's government must take steps to prevent excessive declines in the yen, a senior government official said on Sunday, with the currency falling to its weakest level against the dollar in 24 years, reported Reuters. The yen touched as low as 144.99 against the dollar on Wednesday before paring its losses. The USD/JPY pair was last trading at 142.54 on Monday.

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Macro News: The Biden administration plans to widen curbs on U.S. shipments to China of semiconductors used for artificial intelligence and chipmaking tools next month, reported Reuters.

China's auto sales rose 32.1% to 2.38 million units in August, led by electric vehicles (EV), whose sales were boosted by government incentives, reported Reuters.

Company NewsUbisoft Entertainment SA UBSFY is still open to other partners post a deal in which Tencent Holdings will hike its stake in the company, co-founder and CEO Yves Guillemot said, reported Reuters.

Nio Inc NIO has set up more than 1,100 battery swap stations in China and aims to establish more than 1,300 stations in China by the end of this year, reported the CnEVPost. Shares of the company ended their Hong Kong session 5.7% higher on Friday. 

Alibaba Group Holding Ltd BABA maintained its position as one of the market leaders in the Chinese cloud market, data showed last week. The firm's Hong Kong shares ended nearly 3% higher on Friday.

Global News: U.S. futures traded in the green on Monday morning Asia session. The Dow Jones futures were up 0.06%, while Nasdaq futures gained 0.1%. The S&P 500 futures rose 0.07%.

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