Asian markets followed U.S. markets and closed higher

The Nikkei in Tokyo closed at 27,680.26, up 718.58, or +2.67%, after reports that Russia would resume gas exports to Germany. This makes investors feel relieved about the global economy. Dentsu Inc (+6.15%), Fujitsu (+5.11%), and Minebea Mitsumi (+4.91%) were the best performers. The worst performers were IHI Corp.-1.23%, Hitachi Zosen Corp.-0.60%, and Haseko-1.31%.

The Australian S&P/ASX 200 closed up 109.60 points at 6,759.20 points and the All Ordinaries closed up 122.20 points at 6,975.20 points, supported by the U.S. markets, which rose strongly on Tuesday (July 19). Megaport Ltd (+23.03%), Zip (+12.71%) and Nanosonics (+10%) were the best performers. The losers were NIB Holdings-3.19%, Pendal-2.03%, and Austal -1.97%.

China’s Shanghai Composite closed at 3,304.72, up 25.29 or +0.77%, after Chinese Premier Li Keqiang signaled that he would take measures to stimulate the economy to recover from the effects of the coronavirus epidemic. Jianglong Shipbuilding (+20%), Shanghai National Center (+20%), and Suzhou Wanxiang Technology (+19.98%) were the biggest gainers. Wiscom Sys A-10.02%, Chongqing Wanli New Energy-10%, and Zhong Tong Bus A-10% were the worst performers.

The South Korean Composite (KOSPI) closed up 15.88 points, or 0.67%, at 2,386.85, in line with the Dow Jones Industrial, which gained more than 700 points on strong earnings from listed companies. Daidong Elec (+29.86%), Kp (+19.43%) and KidariStudio Inc (+14.58%) were the best performers. The worst performers were Korea Aerospec-5.23%, SK Reit-4.52%, and SJM Holdings-3.46%.

Hong Kong’s Hang Seng closed up 229.16 points, or +1.11%, at 20,890.22 after the Dow Jones Industrial Average gained more than 700 points on Tuesday (July 19) on strong earnings reports. Enterprise Development (+74.07%), Tasty Concepts (+52.63%), and Tianli Education (+44.58%) were the best performers. The worst performers were EPI-24.74%, Sino Goft-21.98%, and Finland Real Estate-17.92%.

The Thai SET closed at 1539.32 points, up 5.89 points (+0.38%). The best performers were Precision Team (+15.84%), Wichiphan Palm Oil (+14.42%), and Gratitude Infinite (+12.63%). The worst performers were Nova Organics (-8.92%), S. Pack and Print (-6.12%), and Thai-German Products (-3.85%).

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