This is How the Markets in Asia Moved

—– The Nikkei index in Tokyo closed higher as investors hoped China would ease lockdown measures in Shanghai. Among the big winners, yesterday was the game maker Konami Corp. which reached a new 5-year high and yesterday gained 5.69%. In addition to Konami, Inpex Corp +5.64% and Kawasaki Kisen Kaisha +5.3% were the strongest performers. Losers yesterday were led by Asahi Group Holdings -10.86%, Dentsu Inc -6.16%, and Unitika -6.02%.

The Nikkei Index closed at 26,659.75, up 112.70, or +0.42%.

—– In Australia, the S&P/ASX 200 closed higher. This was supported by strong buying in mining and energy stocks. However, the trading environment was weighed down after the Reserve Bank of Australia signaled that it would raise interest rates further. Yesterday’s gainers included rare earth specialist Lynas Rare Earths, up 6.56%, Beach Energy (+6.12%), and coal company Whitehaven Coal (+5.91%). On the other hand, the losers were Brambles -7.59%, Pointsbet Holdings -4.60%, and Rea Group -4.52%.

The S&P/ASX 200 index closed at 7,112.50, up 19.50, or +0.27%.
The All Ordinaries Index closed at 7,350.60, up 24.40, or +0.33%.

—– The South Korean stock market index closed with a plus of almost 1%, which was due to the fact that investors bought shares that had fallen sharply in the past. Concerns about inflation and the aggressive monetary policies of major economies put pressure on the stock market. On the other hand, the won strengthened against the U.S. dollar. Among the big gainers, yesterday were Daesung Ind +30.00%, GeneOne Life Science +16.75%, and Daechang Forgi +16.43%. Yesterday’s losers were Shinsung Tngsn -12.72%, Cosmax Inc -12.28%, and Korea Ind- 11.35%.

The South Korean Stock Market Composite Index (KOSPI) closed at 2,620.44, up 23.86, or 0.92%.

—– The Shanghai Composite Index closed higher after it was announced that there were no new cases of COVID-19 in the city of Shanghai for three days in a row. This boosted the stock market as investor confidence has risen again. The big gainers yesterday were CIMC Vehicles Group Co +20.04%, Xinjiang Tianshan Animal +14.89%, and Shanghai Yizhong Pharmaceutical +13.87%, the big losers were Shanghai Greencourt Invest B -70.15%, Xishui Strong. Year -58.96% and Shanghai Kaytune Industrial Co-15.17%.

The Shanghai Composite Index closed at 3,093.70, up 19.95, or +0.65%.

—– The Hang Seng Index closed higher after the Chinese city of Shanghai prepares to end lockdown measures on June 1 so people can resume their normal lives. This boosted some stocks: Deohe Global +98.72%, Xinchen China Power +87.50%, and Bc Technology. +56,47%. However, there were also big losers led by Grown Up Group Investment-82.54%, Beng Soon Machinery-40.48%, and Weigang Environmental Technology-30.48%.

The Hang Seng Index closed at 20,602.52, up 652.31, or +3.27%.

—– The SET rose sharply after falling earlier, responding to higher than expected Thai GDP in Q1/22. Gainers were led by Indara Insurance +30.00%, Thanulux +29.45%, and Castle Peak Holdings +29.25%. JD Food -16.89%, Pranda Jewelry -10.64%, and Tropical Canning -8.97% were the big losers yesterday.

The SET closed at 1614.49 points, an increase of 30.11 points or +1.90%.

—– The Indian Sensex index rose 1,300 points, gaining for the second consecutive day, led by Uttam Sugar Mills Ltd (+20.00%), Datamatics Global Services Ltd (+20.00%), and Vippy Spin Pro (+19.99%). The losers were led by Eki Energy Services (-16.81%), BP Capital (-15.49%), and Polymac Thermoformers (-14.75%).

The S&P BSE Sensex index closed at 54,318.47, plus 1,344.63 points, or 2.54%.

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