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Asian stock markets close mixed in response to Fed rate hike

—– Australia’s S&P/ASX 200 closed lower for five straight days as investors feared the Reserve Bank of Australia (RBA) would raise interest rates more after the Fed. The biggest losers were Administration Holdings Ltd-10.43%, Inghams Group-4.44%, and Sims Metal Management-4.05%. The biggest gainers were Winner Resolute Mining+10.42%, AP Eagers+5.44%, and Appen Ltd+5.10%.

The S&P/ASX 200 index closed at 6,591.10 points, down 9.90 or -0.15%.
The All Ordinaries Index closed at 6,783.70 points, down 2.10 points or -0.031%.

—– Nikkei in Tokyo closed positive after falling for four consecutive days. The biggest gainers were Maruha Nichiro Corp.+9.78%, Mitsubishi Motors Corp.+4.10%, and Toray Industries, Inc.+4.03%. The biggest losers were Kawasaki Kisen Kaisha-4.67%, and Nissan Chemical Industries. -4.17%, Mitsui O.S.K. Lines-2.18%.

The Nikkei Index closed at 26,431.20 points, up 105.04, or +0.40%.

—– China’s Shanghai Composite closed in the red after the National Bureau of Statistics (NBS) reported that home prices in China have fallen for five consecutive months, suggesting that China’s property market is far from recovery. The biggest losers were Hna Innovation Hainan B-73.74% and Zhejiang Zhaolong Interconnect Tech-38.73%. The biggest gainers were Suzhou Kingswood Printing+20.07%, and Kunshan Kinglai Hygienic Materials+20.00%.

The Shanghai Composite Index closed at 3,285.38, down 20.02, or -0.61%.

—– South Korea’s KOSPI closed slightly higher after seven days of weakness, with investors reacting to the Federal Reserve’s decision to raise interest rates by 0.75% as expected by the market. The gainers were Sempio Foods+29.98%, Chosun Welding+27.12%, Singsongholddin+21.78%. The biggest losers were Young Poong Pa-11.95%, Kumho Electric-8.33%, and Chin Yang Chem-7.64%.

The Composite Index (KOSPI) closed at 2451.41 points, up 4.03 points, or +0.16%.

—– The Hang Seng in Hong Kong closed lower. Losers were led by Oriental University City HK-34.23%, Pinestone Capital-28.17%, and Grang Talents-27.91%. The gainers were Tianli Education+105.06% and Koolean Technology Holding. +72.71%, Century Entertainment Information Holdings +50.00%.

The Hang Seng Index closed today at 20,845.43, down 462.78 or -2.17%.

—– The Thai stock market fell sharply under the pressure of concerns about the direction of monetary policy tightening in many countries. Losers were led by Castle Peak Holdings-22.50%, Thai Rung Union Car-14.06%, and Triton Holding-13.64%. Gainers included Golden Lime+20.79%, Royal Orchid Hotel+14.58%, and Lighting and Equipment+12.60%.

The SET closed at 1561.10 points, down 32.44 points or -2.04%.

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