Most Asian stock indexes finished the Friday trading in red, reports Bloomberg.
The composite index of the stock markets of the Asia-Pacific region - MSCI Asia Pacific fell 0.1%, to 127.3 points. Despite the slight decrease, the indicator finished the week higher for the first time since July, adding about 2%.
China's Shanghai Composite rose 0.07%, the Japanese Nikkei 225 fell 0.2%, Hong Kong's Hang Seng fell 0.3%, and the Australian S&P/ASX 200 also fell 0.5%.
"The markets at some point were out of control, and the fear among investors is still very high - said the executive vice president of Guild Investment Management in Los Angeles, Tim Shirata. - Pessimism about the situation in China and the world economy as a whole is widely expanded, and optimism about the economic recovery in the US is weakening. We have a lot of available funds and we patiently wait for the emergence of investment opportunities."
The Indicator of Chinese companies traded in Hong Kong, Hang Seng China Enterprises, dropped to the closing of the market on Friday by 0.6% amid high volatility session. For the previous week, the index rose 6%, the highest jump in five months.
The experts at Deutsche Bank AG (XETRA: DBKGn) recommended investors to buy shares of Chinese companies traded in Hong Kong. According to their estimates, Hang Seng China Enterprises will increase by 33% from the level on Thursday, amid efforts by the authorities of the PRC to stimulate economic recovery.
At the close of the market on September 10, the value of this indicator was 34% below the May peak, and the estimated value of its constituent shares lower than any of the other Asian markets.
"Investors who want to buy shares of Chinese companies are now doing it in Hong Kong, where the market is more stable," - said CEO at Jun Yang Securities Co., Kenny Tang.
Shares of Air China in Hong Kong rose 3.2% and shares of Citic Securities Co. by 2.7%.
The cost of CRRC Corp. securities, China's biggest producer of railway equipment, grew by 0.4% in Hong Kong and by 0.6% in Shanghai. The company said it expects to increase the volume of foreign contracts to $ 15 billion over five years.
Shares of Shenhua Energy and PetroChina fell respectively by 5.1% and 3.9%, following a decline in oil prices.
The Japanese market fluctuated between growth and decline on Friday; Nikkei 225 ended the day with a slight decline, while the broader Topix index rose to the closing of the market by 0.1%.