Asian stock markets closed positive as China announced easing of Covid 19 measures

—– The Nikkei in Tokyo closed higher for the fourth consecutive day, supported by the weakening of the yen against the dollar. The biggest gainers were Tokyo Electric Power Co, Inc.+7.21%, Mitsubishi Motors Corp.+5.82%, and Inpex Corp.+4.88%. The biggest losers were Z Holdings-2.50%, Rakuten Inc-. 2.18%, and Recruit Holdings-2.02%.

The Nikkei Index closed at 27,049.47, up 178.20, or +0.66%.

—– Australia’s S&P/ASX 200 closed higher, with energy stocks leading the market after crude oil prices rose. The top performers were Collins Foods+11.52%, Resolute Mining+8.89%, and Polynovo+7.25%. The biggest losers were Pointsbet Holdings-8.57%, Zip-7.77%, and Appen Ltd-5.81%.

The S&P/ASX 200 index closed at 6,763.60 points, up 57.60 points, or +0.86%.
The All Ordinaries Index closed at 6,953.40 points, up 59.80 points, or +0.87%.

—– South Korea’s KOSPI closed in positive territory for the third consecutive day, driven by speculative buying in the technology and auto sectors. MetaLabs+19.07%, Chosun Welding+16.43%, and Bumyang Construction+16.26% were the biggest gainers. The biggest losers were Dongbu Steel-8.07%, Sbw-4.99%, and Jcontentree-4.97%.

The Composite Index (KOSPI) closed at 2,422.09 points, up 20.17 points, or +0.84%.

—– China’s Shanghai Composite closed higher after news that China eased measures to contain the spread of COVID-19 and reduced the number of quarantine days for foreign tourists. The winners were led by Ningbo Henghe Mold (+20%), MH Robot Automation (+20.01%), and Western Regions (+19.99%). The biggest losers were Lanhai Medical (-44.25%), Bode Energy Equipment (-11.38%), and Zheijiang Orient Gene Biotech Co (-11.10%).

The Shanghai Composite Index closed at 3,409.21, up 30.02, or +0.89%.

—– The Hang Seng in Hong Kong closed positive in response to news that China announces an easing of measures to control the spread of COVID-19. The biggest gainers were Shirble Department Store China+54.17%, Styland+46.88%, TFG Intermational+29.58%. The biggest losers were Magnus Concordia-38.76%, Alco-18.18%, and Mongolia Energy-17.88%.

The Hang Seng Index closed at 22,418.97, up 189.45, or +0.85%.

—– Thai stock market rose due to buying power in the energy sector and Open City Group. The biggest gainers were Waropakorn+29.03%, TRC Construction+28.57%, and Italian-Thai Development +20%. The biggest losers were TWZ-12.50%, C.P.L. Group-6.69%, and Castle Peak Holdings-6.25%.

The SET closed at 1594.47 points, an increase of 14.27 points or +0.90%.

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