Asian Stock Markets Closed Higher After U.S. Markets Closed Positive last Week

— The Nikkei in Tokyo closed with a plus of more than 2%. One reason could be the slowdown in U.S. inflation, which could make the Fed rethink its interest rate policy to save the economy from recession. The big gainers today were Recruit Holdings+6.68%, Yaskawa Electric Corp.+6.56%, and Daikin Industries+6.56%. The losers were Nippon Yusen K.K-3.36%, Mitsui O.S.K. Lines-3.13%, Tokyo Electric Power Co. Inc.-2.80%.

The Nikkei Index closed at 27,369.43, up 587.75, or +2.19%.

— Australia’s S&P/ASX 200 closed higher after China’s Shanghai financial center announced measures to revive the economy and support businesses. The biggest gainers were Zip+14.04%, A2Milk+10.42%, and Megaport Ltd+8.57%. On the losing side were Tabcorp Holdings-4.46%, Appen Ltd-3.67%, and Unibail Rodamco Westfield-2.76%.

The S&P/ASX 200 index closed at 7,286.60 points, up 103.90 points, or +1.45%.
The All Ordinaries Index closed at 7,522.60, up 109.50, or +1.48%.

— The KOSPI in South Korea closed in positive territory as investors flocked to high-quality stocks on speculation following Friday’s Wall Street gains and hopes for an economic recovery in China. The big gainers were Singsongholding+23.68%, Daeho AI+14.03%, IIjin Holdings+13.32%. The biggest losers were HLB Global-8.07%, Pan Ocean-7.05%, and HMM-5.33%.

The Composite Index (KOSPI) closed at 2,669.66 points, up 31.61 points, or +1.2%.

— Shanghai Composite Index China closed positive after Shanghai announced measures to restore the economy and support enterprises. The biggest gainers were HIT Welding Industry+20.01%, Shenzhen Breo Technology+20.00%, and Shaanxi Lighte Optoelectronics+19.97%. On the losing side were Xinxing Tuoxin Pharmaceutical-11.93%, Hainan. Express A-10.07%, SEC Electric Machinery-10.02%.

The Shanghai Composite Index closed at 3,149.06, up 18.82, or +0.60%.

— The Hang Seng Index in Hong Kong closed higher. The latest inflation reading in the U.S. showed a slowdown which could prompt the Fed to rethink its interest rate policy to keep the economy out of recession. The big gainers were Great Harvest Maeta+201.53%, Hands Form Holdings+67.57%, and eSun+60.00%. On the losing side were Wing Fung Group Asia-57.65%, Jingrui-47.83%, and Excalibur Global-27.54%.

The Hang Seng Index closed at 21,123.93, an increase of 426.57 points or +2.06%.

The Thai SET stock market rose in line with other stock markets in the region. The positive side was led by Castle Peak Holdings (+29.79%), Waropakorn (+28.99%), and T.C.J.Asia (+14.37%). On the negative side were TWZ (-11.11%), PP Prime B (-10.53%), and Tong Hua Holdings (-7.20%).

The SET closed at 1,653.61 points, an increase of 14.86 points or +0.91%.

The Indian stock market Sensex closed with a gain of more than 1%. On the winning side were Uravi T& Wedge Lamps+20.00%, Anuroop Packaging+20.00%, DHP India+20.00%.

The Sensex index closed at 55,925.74 points, up 1041.08 points, or +1.90%.

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