Business News Asia
—– The Nikkei in Tokyo closed higher, reaching a six-week high, as the yen weakened against the dollar. Top gainers included Nissan Motor +7.77%, IHI Corp. +7.31%, and NTN Corp. +6.84%. On the negative side were Daiichi Sankyo -4.88%, Inpex Corp. -4.65%, and Recruit Holdings -4.65%.
The Nikkei Index closed at 27,457.89, up 178.09, or +0.65%.
—– Australia’s S&P/ASX 200 closed higher after the Australian Bureau of Statistics reported that the economy expanded better than expected in 1Q22. Top gainers included Fortescue Metals +3.23%, Telstra Corporation +3.09%, TPG Telecom +2.96%. The biggest losers were Pilbara Minerals Ltd-22.03%, Origin Energy-13.72%, and Pointsbet Holdings-12.46%.
The S&P/ASX 200 index closed at 7,234.00, up 22.80, or +0.32%.
The All Ordinaries Index closed at 7,462.90 points, up 7.70 points or +0.10%.
—– The Shanghai Composite in China closed negative. Investors are concerned about the economic outlook, although today is the day Shanghai officially ends its closure measures. The biggest losers were Neoglory Prosperity-87.58%, Henan Kedi Dairy Industry Co Ltd-72.15%, and Shanghai Junshi Biosciences Co-13.26%. Shaanxi Lighte Optielectronics+20.02%, Suzhou Zelgen Biopharma+20.01%, and Beijing LabTech Instruments+20.01% were among the biggest gainers.
The Shanghai Composite Index closed at 3,182.16, up 4.27, or -0.13%.
—– Hong Kong’s Hang Seng closed lower, as did the Dow Jones Industrial Average, which closed lower on Tuesday (May 31). Markets are concerned that a rise in inflation could hurt economic growth. The negative side was led by Tong Kee-72.80%, Youth Champ Financial Group-33.33%, and China Greenland Broad-28.57%. The biggest gainers today were Fullsun Internationl Holdings+50.00%, Hanhua Financial+33.33%, and Jiande International+32.89%.
The Hang Seng Index closed today at 21,294.94, down 120.26 or -0.56%.
—– South Korean stock markets are closed today (June 1) for local election day.
—– Thai SET declined in line with Asian stock markets and was pressured by energy companies due to the development of global oil prices. The biggest losers were Castle Peak Holdings-23.63%, New City-13.07%, and Waropakorn -9.22%. The biggest gainers included AQ Estate +50.00%, Thai Wire Product. +29.63%, Malee Group +29.52%.
The SET Closes today at 1660.01 points, down 3.40 points or -0.20%.