Asian stock markets closed in negative territory – inflation concerns may drive up interest rates

—– The Nikkei index in Tokyo turned negative, while the U.S. futures markets fell. Investors took profits after the Nikkei index closed strong yesterday. The losers were Sojitz Corp -6.09%, Mitsubishi Corp -6.02%, and Inpex Corp -3.94%. The gainers were Mitsubishi Motors Corp. +7.11%, Yokohama Rubber+5.08%, and Mazda Motor+4.05%.

The Nikkei Index closed at 26,149.55, down 96.76, or -0.37%.

—– Australia’s S&P/ASX 200 closed lower, while other Asian markets fell. Investors are concerned about a possible recession. The biggest losers were St Babara-18.14%, Zip-11.43%, and Blackmores-8.90%. The biggest gainers were Iress+4.51%, APA Group+4.20%, and Rea Group+3.89%.

The S&P/ASX 200 index closed at 6,508.50 points, down 15.30 points, or -0.23%.
The All Ordinaries Index closed at 6,682.30 points, down 18.50 points, or -0.28%.

—– The South Korean composite fell nearly 3% as investors’ fears of recession led them to shun risky assets. The biggest losers were Hanchang-29.73%, IIdong Holdings-12.39%, and Firstec-12.03%. Gainers were led by Sung Bo Chem+29.94%, IIyang Pharm+5.84% and Samhwa Crown+5.08%.

The Composite Index (KOSPI) closed at 2,342.81 points, down 66.12 points, or 2.74%.

—– The Shanghai Composite in China closed negative. Investors are concerned that the COVID-19 epidemic may affect the outlook of the Chinese economy. The biggest losers were Zhengzhou Sino Crystal Diamond(-19.31%), Shaanxi Lighte Optoelectronics(-12.73%), and Goertek A(-10.01%). The winners were MH Robot Automation(+20.02%), SICHUAN HZYEG MEDICAL Co( +20.00%) and RoboTechnik Intelligent(+20.00%).

The Shanghai Composite Index closed at 3,267.20, down 39.52, or -1.20%.

—– The Hang Seng in Hong Kong closed lower as investors worried about the recession and many central banks announced interest rate hikes. The losers were Zhong Ji Longevity Science-23.75%, Glory Sun Financial-18.46%, and Chi Ho Development-18.18%. The biggest gainers were Alco+175.51%, Grand Ocean Resources+141.18%, and CK Life Sciences+87.69%.

The Hang Seng Index closed at 21,008.34, down 551.25, or -2.56%.

—– The Thai stock market fell in line with Asian markets due to heavy selling in the energy, banking, and retail sectors. Investors are waiting for the Fed Chairman’s statement tonight. The biggest losses were seen in TWZ-12.50%, Royal Orchid Hotel-8.97%, and Crown Tech Advance-8.82%. Gainers are led by AQ Estate+50%, PP Prime+15.38%, and Better World Green+15.05%.

The SET closed at 1560.02 points, down 14.50 points or -0.92%.

Leave a Reply

Change Language
%d bloggers like this: