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Most Asian Stock Markets Closed in the Negative – Investors Fear that the Global Economy Could Fall into a Recession Due to Inflation

—– The Nikkei in Tokyo closed lower. Investors are concerned that the Federal Reserve (Fed) will continue to raise interest rates to tackle high inflation. The biggest losers were Fujitsu-4.44%, Astellas Pharma Inc.-4.09%, and Sony-3.19%. The biggest gainers were Taiyo Yuden+6.04%, Mitsubishi Motors Corp.+3.32%, and Ricoh+2.77%.

The Nikkei Index closed at 27,413.88, down 44.01, or -0.16%.

—– The Australian S&P/ASX 200 closed in the red. It was pressured by falling financial and technology stocks.

The S&P/ASX 200 index closed at 7,175.90, down 58.10 or -0.80%.
The All Ordinaries Index closed at 7,400.80, down 62.10, or -0.83%.

—– The Shanghai Composite in China closed higher as investors responded to the Chinese government’s additional stimulus measures. The biggest gainers included Shaanxi Lighte Optoelectronics+20.02%, Harbin Xinguang Optic Electronics+20.01%, and Shanghai W Ibeda High Tech+20.00%. The biggest losers were Xiamen Overseas Chinese Electronic-89.58%, Shangying Global-77.31%, and Jiangsu Jinling Sports Equipment-16.73%.

The Shanghai Composite Index closed at 3,195.46, up 13.30, or +0.42%.

—– The KOSPI in Seoul closed lower. This is due to the fact that investors are concerned that the global economy may fall into recession due to inflation. The biggest losers were Air Busan-13.90%, Chin Yang Chem-11.55%, Chin Yang Ind-7.91%. The biggest gainers included Jeil Pharm+26.69%, Hanchang+9.09%, E Inv & Dev+8.23%.

The Composite Index (KOSPI) closed at 2658.99, down 26.91, or -1.00%.

—– The Hang Seng in Hong Kong closed lower. On the negative side were Tong Kee-31.37%, Realord Group-30.19%, and Jiachen Holding-20.83%. On the positive side was Imperium Financial+51.72%, Sing Tao News Corp+50.00%, and Asia Television Holdings+40.00%.

The Hang Seng Index closed at 21,082.13, down 212.81, or -1.00%.

—– Thai SET declined in line with most regional equity markets as the market returned to concerns about tighter monetary policy. The negative side was led by AQ Estate-33.33%, Thonburi Healthcare Group-12.67%, and T.C.J.Asia-11.19%. The positive side was led by Bangkok Dec-Con+20.59. %, Metro Systems Corporation+13.48%, D.T.C.Industries+8.47%.

The SET closed at 1647.67 points, down 12.34 points or -0.74%.

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