In a positive turn of events, several key Asian stock markets closed on a high note today following the decision by the People’s Bank of China to maintain the Prime Customer Rate (LPR) interest rates. Here’s a roundup of today’s market performances:
Hang Seng (Hong Kong): The Hang Seng index closed positively at 16,511.69 points, marking a significant gain of 287.55 points or +1.77%. Investors heaved a sigh of relief as concerns over the tense situation in the Middle East eased. Attention has now shifted towards upcoming US economic data scheduled to be revealed later this week.
Shanghai Composite (China): The Shanghai Composite index closed on a slightly negative note at 3,044.60 points, experiencing a minor decline of 20.67 points or -0.67%. Investor sentiment remained cautious amid lingering concerns about China’s economic outlook.
KOSPI (South Korea): The South Korean Composite (KOSPI) index closed positively at 2,629.44 points, surging by 37.58 points or +1.45%. The market was buoyed by gains in financial, automotive, and other blue-chip stocks, with tensions in the Middle East showing signs of subsiding.
Nikkei (Japan): Tokyo’s Nikkei index bounced back to close positively at 37,438.61 points, registering a notable increase of 370.26 points or +1.00%. Investors speculated on the rebound after the Nikkei index experienced a significant drop of over 1,000 points last Friday. Concerns regarding the Middle East situation were somewhat alleviated as Iran reportedly indicated no immediate plans for retaliation against Israel’s missile attack.
S&P/ASX 200 and All Ordinaries (Australia): In Australia, both the S&P/ASX 200 and All Ordinaries indices closed positively, reflecting strong buying sentiment in the market. The S&P/ASX 200 closed at 7,649.20 points, up by 81.90 points or +1.08%, while the All Ordinaries closed at 7,893.60 points, marking an increase of 76.20 points or +0.97%. The banking and healthcare sectors witnessed robust buying activity, while investors remained attentive to upcoming production and service sector data, including this week’s Australian inflation figures.