China's property stocks fall more than 5% after housing ministry briefing; Greater Asian markets are mostly up

Workers at the construction site of the rehabilitation housing in Huai city, Jiangsu province, China, June 17, 2024.

Cfoto | Future publications Getty Images

China's property stocks fell after a briefing by the country's housing ministry, while the broader CSI 300 rose along with other Asia-Pacific markets.

The CSI 300 real estate index – which rose 5% on Wednesday – fell 5.5%, while the benchmark CSI 300 was slightly higher.

of Japan Nikkei 225 Declined 0.6%, while broad-based topics were little changed as investors assessed trade data out of Japan.

Japan's exports fell 1.7% in September from the same period last year, surprising economists polled by Reuters who had expected a 0.5% growth rate. It is the first time that exports have contracted this year and a sharp decline from a revised 5.5% growth rate in August.

September's import growth came in at 2.1%, missing the expectations of economists who had expected a 3.2% increase. This number was lower than the 2.3% increase in August.

Australia's S&P/ASX 200 rose 0.4% in trading.

Australia's unemployment rate was 4.1% in September, slightly lower than a Reuters poll that had expected it to be unchanged from August at 4.2%.

Australia's labor participation rate rose slightly to 67.2% in September, up 0.1 percentage point from August, in line with forecasts.

South Korea's Kospi was trading up 0.1%, while the small-cap Kosdaq was flat.

Hong Kong Hang Seng Index It rose 1.1% on Wednesday after several policy announcements from its chief executive.

Taiwan Semiconductor Manufacturing Company Earnings are set to report later on Thursday. TSMC's results will be in focus after Dutch semiconductor equipment maker ASML cut global chip stocks.