Asian stock markets closed mixed ahead of Fed meeting

—– The Nikkei in Tokyo closed at 27,655.21, down 44.04 or -0.16%, due to a sell-off in the technology sector. Investors are also turning their attention to the Fed’s monetary policy meeting on July 26-27. Kawasaki Kisen Kaisha-3.25%, Chugai Phamaceutical-3%, and Terumo Corp.-2.40. % were the worst performers. The best performers were JGC Corp.+4.69%, Fujikura+3.43%, and Hitachi Construction Machinery Co+3.40%.

—– The Australian share index S&P/ASX 200 closed at 6,807.30, up 17.40 or +0.26%, and the All Ordinaries closed at 7,025.20, up 18.80 or +0.27%. Zip (+19.88%), Nanosonics (+6.57%), and Whitehaven Coal (+6.40%) were the best performers. The worst performers were Iress-6.55%, Flight Centre-5.62%, and Resolute Mining-5.45%.

—– The South Korea Composites (KOSPI) closed at 2,412.96, up 9.27 or +0.39%, driven by leading auto and technology stocks. While the won gained against the US dollar. Kumyang (+29.99%), IIdong Holdings (+25.21%), and II Dong Pharma (+13.91%) were the best performers. The worst performers were Cosmo Chem-10.20%, IIjin Display-9.68%, and Daidong Elec-9.38%.

—– China’s Shanghai Composite closed at 3,277.44, up 27.05, or +0.83%, on news that China will set up a 300 billion yuan ($443.9 billion) real estate fund to support real estate companies. Chinadive Watersports (+19.95%), Sumavision Technologies (+13.95%), and SF Diamond (+13.77%) were the best performers. MicroPort Endovascular MedTech-11.12%, Wuxi Huadong Heavy Machinery A-10.10%, and China Resources D-C Pharm-10.01% were the worst performers.

—– The Hang Seng in Hong Kong closed at 20,905.88, up 342.94, or +1.67%, on a rally in technology stocks after Alibaba announced it would apply for a primary listing on the Hong Kong Stock Exchange, while it is currently listed on the secondary exchange. The top gainers were Mason Financial Holdings (+28.57%), Zhong Ji Longevity Science (+26.56%), and China Graphite (+25.49%). The losers were Quanzhou Huixin Micro credit-44.64%, Enterprise Developer-43.90%, and Da Sen Holdings-23.23%.

—– Thai SET closed at 1,553.18 points, down 7.13 points or -0.46%. The losers were Jasmine Telecom Systems -7.58%, Castle Peak Holdings -7.76%, and Golden Lime-4.17. %. The winners were TWZ+14.29%, Thai-German Products+8%, and S. Pack and Print+8.92%.

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