The Magazine for Asian Investors
Tokyo Nikkei closed at 27,803.00, up 0.44%, as investors’ concerns about the global economy eased after it was announced that Russia resumed gas exports to Germany. The most positive performers were Nikon Corp.+3%, GS Yuasa Corp.+2.68%, and Nichirei Corp.+2.61%. The most negative performers were Shionogi-6.84%, Kobe Steel-3.31%, and JFE Holdings, Inc.-3.22%.
The Australian S&P/ASX 200 closed at 6,794.30 points (+0.52%) and the All Ordinaries Index at 7,018.40 points (+0.62%). The winners were Zip+16.54%, Link Administration Holdings Ltd+12.63%, and Pointsbet Holdings+5.99%. The losers were Woodside Energy-4.39%, Sims Metal Management-4.38%, and Whitehaven Cold-4.04%.
China’s Shanghai Composite closed almost 1% lower at 3,272.00, down 32.72, after the Asian Development Bank (ADB) lowered its forecast for China’s economy. The worst performers were Ligao Foods Co-10.53%, Shenyang Jinbei Auto-10.06%, and Suzhou Longjie Auto-10.06%. The best performers were Newonder Special Electric (+20%), Guangzhou Fangbang Electronics Co (+20.) %) and Shenzhen King Brother Electronics Tech. (+20%).
The Hang Seng in Hong Kong closed at 20,574.63, down 315.59 points or -1.51%, as investors worried about the Chinese economy. The biggest losers were China All Nation International Holdings (-35%), Huazhang Tech (-29.46%), and Xinming China (-21.88%). The biggest gainers were PB+103.39%, Renco Holdings Group Ltd+87.30%, and China Internet Investment Finance+40.76%.
The South Korean Composite Index (KOSPI) closed up 22.31 points, or +0.93%, at 2,409.16 points, in line with the US stock markets. Investors were relieved as global oil prices fell and the won currency strengthened against the U.S. dollar. The top gainers were IIjeong Ing (+14.44%), Daigong Elec (+10%), and Visang Educati (+7.78%). The biggest losers were II Dong Pharma-29.96%, IIdong Holdings-29.91%, and Shinpoong Phar-8.71%.
The Thai SET closed at 1,546.31 points, up 6.99 points or +0.45%. The gainers were AQ Estate +50%, Ace Pack & Print +29.71%, and Gratitude Info. Nit+19.16%. The losers were Far East DDB-11.36%, Exspring Capital-8%, and Boutique New City-7.56%.