Asian stock markets traded mixed today on corporate news. China’s Shanghai Composite index was down 0.04%. Hong Kong’s Hang Seng was down 0.8%.

Asia-Pacific stock indices — current situation on the market

Nio plummeted by more than 12% on the Hong Kong Stock Exchange. The maker of electric cars increased its fourth-quarter revenue 1.2 times, but its net loss rose due to higher cost of sales. At the same time, both indicators were worse than the consensus forecast.

Also leading declines on the Hong Kong Stock Exchange are shares of retailers Alibaba (NYSE:BABA) and jd.com Inc (NASDAQ:JD).- down 4.1% and 2.4%, respectively, Budweiser Brewing Co. APAC, up 2.6%, and casino operator Sands China, up 2.5%.

Weibo Corp., the owner of China’s largest social network, increased net income in October and December Thanks to cost-cutting measures that helped offset falling advertising revenue. Meanwhile, revenue fell 27%. The company’s stock price fell 12 percent. Traders were disappointed that Weibo didn’t announce a buyback program; MarketWatch wrote.

China Rare Earth Resources & Technology is down 7.7%, China Northern Rare Earth is down 4.2% and Rising Nonferrous Metals Share Co. — by 8%. The reason for this was the news that American Tesla (NASDAQ:TSLA) plans to abandon the use of rare-earth metals in the new generation of engines for electric cars.

At the same time, the capitalization of Techtronic Industries (HK:0669) is up 3%. The maker of electrical equipment and sweepers dropped its net profit by about 2% in 2022 due to higher finance costs, but revenue was up 0.4%.

The value of Japan’s Nikkei 225 index was down 0.06%. Shares of generating companies Fuji Electric (TYO:6504) Co. and Kansai Electric Power Co. showed the biggest declines, falling 3.6% and 2.2%, respectively, while telecoms NTT Data Corp. and Chiba Bank were down 2.6%. Meanwhile, SoftBank Group (TYO:9984) (+1.3%) and console maker Nintendo (+0.1%), Asia’s largest clothing retailer Fast Retailing (TYO:9983) (+2.4%) are up.

South Korea’s Kospi was up 0.7%. One of the world’s biggest chip and electronics makers, Samsung Electronics Co. (KS:005930) gained 0.2%; automaker Hyundai Motor (KS:005380) gained 1% and steelmaker Posco gained 6%.

Australia’s S&P/ASX 200 index gained 0.05% in trading. Capitalization of the world’s largest mining companies BHP and Rio Tinto (LON:RIO) rose 4 percent, while another industry representative, Fortescue Metals, gained 4.3 percent.

Earlier, we reported that U.S. stock indicators ended trading contradictorily.