Business News Asia
—– The Nikkei in Tokyo closed slightly lower as investors sold their shares to make a profit after the index reached a one-month high yesterday.
Today’s losers were led by Tokyo Tatemono-4.19%, Paciflc Metals-3.92%, Sumitomo Osaka Cement-3.90%. Top gainers were Inpex Corp (+6.20%), Subaru Corp (+4.45%) and Fujikura (+3.93%).
The Nikkei Index closed at 27,279.80 points, down 89.63, or -0.33%.
—– The Australian S&P/ASX 200 closed down more than 1%, with markets pressured by the slump in financial and technology stocks.
The biggest losers were Suncorp-6.35%, Zip-6.15%, EML Payments-5.96%. On the positive side, Beach Energy+5.18%, Whitehaven Coal+3.53%, Monadelphous+3.31%.
The S&P/ASX 200 index closed at 7,211.20, down 75.40, or -1.03%.
The All Ordinaries index closed at 7,455.20, down 67.40, or -0.90%.
—– The Shanghai Composite in China closed positive, responding to the news that Shanghai announced the end of the lockdown measures from June 1. This gives investors confidence that this decision will help the Chinese economy recover.
The biggest gainers were China Railway High Speed Electrification+20.02%, Shenzhen Everwin Precision Tech+20.02%, Suzhou HYC Technology+20.02%. The biggest losers were Sunlight Elec A-79.00%, Shenzhen Tempus. Global Business-61.25%, Shenzhen Chuangyitong Technology Co-38.55%.
The Shanghai Composite Index closed at 3,186.43, up 37.37, or +1.19%.
—– South Korea’s benchmark KOSPI index closed higher for the third consecutive day as foreign investors bought amid easing concerns about a global recession and a slowdown in China’s economy. The biggest gainers were IIjin Holdings+17.38%, Unid+7.59%, and IIjin Materials+7.41%. The biggest losers were Hwa Sung Ind-10.99%, Singsongholdin-6.38%, and Ts-5.35%.
The Composite Index (KOSPI) closed at 2685.90 points, up 16.24 points, or +0.61%.
—– The Hang Seng stock market in Hong Kong closed higher after the Shanghai government announced that it would lift the lockdown measures. The biggest gainers were China Digital Video+36.62%, Culturecom+35.29%, and Values Cultural Inv+34.48%. On the losing side were Newlink-22.31%, Chinese Energy-18.67%, and Jingrui-18.06%.
The Hang Seng Index closed at 21,415.20, up 291.27 points, or +1.38%.
—– The SET in Thailand fluctuated sideways in the morning, but later managed to join the sentiment in the markets in Asia. The Election Commission (EC) announced the confirmation of the election results for the Bangkok Governor. The leading stocks were Asia Fiber+29.82%, C.P.L. Group+29.79%, and Castle Peak Holdings+29.51%. On the losing side were PP Prime’s lead -5.88%, Triton Holding-4.76%, Eugene Plastics-4.44%.
The SET closed at 1,663.41 points, an increase of 9.80 points or +0.59%.