Asian stock markets closed in negative territory as recession worries emerge

—– Tokyo’s Nikkei closed at a five-week low as investors feared deterioration in the U.S. economy. The Federal Reserve (Fed) is expected to raise interest rates further to curb inflation. The losers were Inpex Corp (-9.44%), Mitsubishi Heavy Industries (-9.18%), and Chiyoda Corp (-8.24%). The gainers were led by Kyowa Hakko Kirin+3.58%, Softbank Corp.+3.03%, and Subaru Corp.+2.55%.

The Nikkei Index closed at 25,771.22, down 191.78, or -0.74%.

—– Australia’s S&P/ASX 200 closed in the red as investors feared the Reserve Bank of Australia would raise interest rates in line with other central banks worldwide, including the Federal Reserve (Fed) and the Bank of England (BoE). The biggest losers were Champion Iron Ltd-11.94%, Silver Lake Resources-. 9.85%, Whitehaven Coal-9.20%. The biggest gainers were Pointsbet Holdings+18.60%, Appen Ltd+9.68%, and Kogan.com+6.79%.

The S&P/ASX 200 index closed at 6,433.40, down 41.40, or -0.64%.
The All Ordinaries Index closed at 6,609.50, down 53.80, or -0.81%.

—– The Shanghai Composite in China closed slightly in the red. The People’s Bank of China (PBOC) left the 1-year and 5-year policy rates (LPR) unchanged today. Losers were led by Zhejiang Tianyu Pharma-13.15%, Shaoneng A-10.05%, and Shanghai Datun Energy-10.02%. Top gainers were Shenzhentran New Material A+20.02%, Jiangsu Leili Motor+20.02%, and Ningbo Ginlong Tech+20.00%.

The Shanghai Composite Index closed at 3,315.43, down 1.36 points, or -0.041%.

—– The KOSPI in South Korea closed down more than 2% as investors feared a global recession and several major economies tightened monetary policy earlier than expected. The losers were Shin Hwa Silup- 16.45%, Cheil Grinjding-12.16%, and Samsung Climat-12.16%. The biggest gainers were Korea Ind+23.16%, Daesung Ind+8.14%, and Hanchang+4.80%.

The KOSPI closed at 2,391.03 points, down 49.9 or -2.04%.

—– Hong Kong’s Hang Seng closed higher as purchases of real estate stocks helped offset falling shares in Chinese technology companies. However, investors remain concerned about rising inflation and several central bank rate hikes. The top gainers were Jiayuan Intl+73.13%, Xinjiang LaChapelle Fashion HK+63.79%, and Pinestone Capital+54.76%. The biggest losers were Koolearn Technology Holding-32.08%, and Wisdom Education Intl-31.52%.

The Hang Seng Index closed at 21,163.91, up 88.91, or +0.42%.

—– Thai stocks fell on selling pressure from commercial banks. The losers were Jasmine Telecom Systems. -29.97%, TWZ-12.50%, NEP Real Estate and Industry-12.50%. Gainers were led by Matching Maximize Solution+15.09%, Thai Plastic Coated Fabric Industry+14.71%, and M Pictures Entertainment+13.27%.

The SET closed at 1559.21 points, down 0.18 points or -0.01%.

Leave a Reply

Change Language
%d bloggers like this: