Business News Asia
—– The Nikkei in Tokyo closed lower after the publication of the consumer price index (CPI) in the U.S., which was higher than expected. This prompted investors to expect the Federal Reserve (Fed) to tighten monetary policy further. The losers were Softbank Group Corp.-6.85%, Kubota Corp.-6.26%, Omron Cor-5.89%. Gainers were led by Kansai Electric Power+2.61%, Sumitomo Mitsui+1.76%, and Chiba Bank+1.68%.
The Nikkei index closed down 26,987.44, down 836.85, or -3.01%.
—– The South Korean composite fell to a 19-month low as investors feared the global economy was at risk of a slowdown. The losers were Kumho Electric-20.38%, Samwha Electri-12.12%, and Sam-A-Aluminiu-11.38%. Top gainers were Sempio Foods+29.98%, Singsongholdin+29.98%, and Korea Ind+13.95%.
The KOSPI closed at 2,504.51, down 91.36, or -3.52%.
—– The Shanghai Composite in China closed in the red on concerns about the impact of China’s lockdown of some areas in Shanghai. While investors are keeping an eye on China’s key economic data this week. The losers were Lead Eastern Investment-82.47%, Boomsense Tech-76.08%, Julong-62.59%.
The Shanghai Composite Index closed at 3,255.55, down 29.28, or -0.89%.
—– The Hang Seng in Hong Kong closed in the red. The losers were Gameone-24.47%, PF Holdings-22.22%, and Wines Link-20.43%. The biggest gainers were Affluent Partners+69.64%, Super Strong+47.06%, and Goldstone Investment+43.04%.
The Hang Seng Index closed at 21,067.58, down 738.60 or -3.39%.
—– Australian stock markets are closed today (June 13) for the Queen’s birthday.
—– The Thai stock market declined in line with other stock markets around the world. Investors returned to concerns that the Federal Reserve (Fed) will raise interest rates earlier than expected. The losers were Casser Peak Holdings -29.67%, Asia Fiber-19.74%, and Lime- 18.55%. The top gainers were Nova Empire +29.46%, and M Picture Entertainment +29.31%.
The SET closed at 1600.06 points, down 32.56 points or -1.99%.