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Chinese Automakers Make Big Jump – Here’s How the Markets in Asia Moved Yesterday

—- The Shanghai Composite Index closed higher after reports that the number of people infected with COVID-19 in China is slowing and the following news that U.S. President Joe Biden is considering lifting tariffs on Chinese imports. Hunan Huasheng +10.13%, Shenyang Jinshan +10.07%, and Shanghai Fudan Forward +10.07% made big jumps yesterday. Losers yesterday included pharmaceutical stocks such as Zhejiang Ausun Pharma -10%, Fujian Aoning Biological -7.67%, and Sichuan Mingxing Electric -7.55%.

The Shanghai Composite Index closed at 3,058.70, up 22.86, or +0.75%.

—- S&P/ASX 200 Australian stock markets closed higher. This was due to the rise in real estate stocks, healthcare, and materials, which offset the decline in technology and financial stocks. Lifestyle Communities Ltd. rose 15.1% after Goldman Sachs analysts commented positively on the share price. Shares in Magellan rose 0.8% after it was announced that the company had appointed a new CEO.

Yesterday’s gainers include, up 6.29%, and Nanosonics, up 5.38%. The biggest losers yesterday included Link Administration Holdings, down 15.09%, and Primary Health Care, down 4.52%.

The S&P/ASX 200 index closed at 7,064.70, up 13.50, or +0.19%, and the All Ordinaries closed at 7,304.40, up 19.20, or +0.26%.

—- South Korea’s composite index fell for the seventh day in a row as investors worried about inflation and a global economic slowdown. In contrast, Young Poong Pa surged, rising a whopping 20.32%. Yesterday’s winners also included Dynamic Design (+15.25%) and BK Tops (+14.93%). On the other hand, Meritz Fire In -10.46%, Kukbo Trans -9.86% and Han Shin Mach -9.38% suffered heavy losses.

The South Korean Stock Exchange Composite Index (KOSPI) closed at 2,592.27 points today, down 4.29 points or -0.17%, on a weak trading volume of 664.4 million shares worth 8.4 trillion won.

—- The Hang Seng Index closed today with a gain of 0.97% or 190.88 points at 19,824.57 points. Alibaba Group closed slightly down 0.41%, and for the year the stock lost a whopping 58%. Chinese automakers were among the gainers yesterday, led by BYD (+8.47%) and Geely Automobile (+6.81%). WuXi Biologics (+6.48%), ANTA Sports Products (+6.4%) and Meituan (+6.32%) also made big jumps.

—- The Thai stock market came under selling pressure after a strong rise on Monday to reduce risk in anticipation of the US inflation figures. Yesterday’s gainers include Syn Mun Kong +29.94%, Textile Prestige +28.89% and PP Prime +9.68%. Losers include PM Thoresen Asia -15.92%, Nova Organic PCL -9.8% and WICE Logistics -9.3%.

The SET closed at 1,613.34 points, down 9.44 points or -0.58%.

Securities with the highest trading value 5 securities

BANPU, trading value ฿3,792.44 million, closed at ฿11.80, a decrease of ฿0.30.
AOT trading value ฿3,030.06 million, closing at ฿66.50, a decrease of ฿0.50t.
OR trading value ฿2,824.67 million, closed at ฿26.50, increased by ฿1.25.
JMT, trading value ฿2,081.87 million, closed at ฿72.75, a decrease of ฿5.25.
PTTEP trading value ฿2,051.60 million, closed at ฿153.00, increased ฿1.50.

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