Business News Asia
—– Nikkei in Tokyo closed at the lowest level in more than a month, in line with international stock markets, which fell overnight yesterday. The losers were Tokai Carbon-7.37%, Shiwa Denko K.K.-6.29%. , SUMCO Corp.-5.88%. The top gainers were Keio Corp.+5.50%, Meiji Holdings+3.04%, and Osaka Gas+2.83%.
The Nikkei index closed at 25,963.00, down 468.20, or -1.77%, its lowest close since May 12.
—– Australia’s S&P/ASX 200 closed lower amid fears that the global economy could enter a recession as central banks around the world raise interest rates. The losers were GUD Holdings-19.56%, Hub24 Ltd-7.46%, and Harvey Norman Holdings-6.58%. The biggest gainers were EML Payments+9.43%, Carsales.com+8.08%, and Westgold Resources+7.29%.
The S&P/ASX 200 index closed at 6,474.80, down 116.30, or -1.76%.
The All Ordinaries Index closed at 6,663.30 points, down 120.40 or -1.77%.
—– The KOSPI in South Korea closed lower, while the won weakened against the US dollar. The biggest losers were Chosun Welding-22.67%, Hanjin Heavy Ind Const Holdings-14.11%, and Sempio Foods-12.41%. The winners were Sk Securities+14.87%, IIjin Electric Co+9.18%, and Cosmo Chem+9.14%.
The KOSPI closed at 2,440.93, down 10.48, or -0.43%.
—– China’s Shanghai Composite closed higher, responding to hopes that the Chinese government will take stimulus measures. The winners were Yinbang Clad Material+20.05%, Shenzhentran New Material A+20.02%, and Jiangsu Leili Motor+20.02%. The biggest losers were Soya A-9.58%, Changhu Suite Electric-8.85%, and Hna Innovation Hainan A-8.57%.
The Shanghai Composite Index closed at 3,316.79, up 31.40, or +0.96%.
—– The Hang Seng in Hong Kong closed higher as investors bought the dip after the market closed more than 400 points lower on Thursday (June 16). The gainers were Renco Holdings Group Ltd +207.69%, Glory Sun Financial +164.52%, Wisdom Education Intl +58.62%. Losers were Vistar-38.48%, E-House China-22.64%, and Scholar Education Group-22.12%.
The Hang Seng Index closed at 21,075 points, up 229.57 points, or +1.10%.
—– Thai stock market moved volatile due to the risk of global liquidity shortage. Losers were Jasmine Telecom Systems-23.85%, Thai plastic-coated fabric industry-13.56%, and Star-Petoleum Refining-9.60%. Gainers were led by TWZ+14.29%, Jasmine International+13.50%, and Royal Plus+12.40%.
The SET closed at 1559.39 points, down 1.71 points or -0.11%.