Asian stock markets closed lower as investors eye U.S. inflation

Tokyo Nikkei closed down 180.63, or -0.65%, at 27,819.33 points, with a sell-off in technology stocks on weak gains. The losers are Daiwa House Industry-4.35%, Fuijitsu-3.79%, and Advantest Corp.-3.56%. The winners are Mitsubishi Materials Corp.+7.91%, Mazda Motor+7.38%, and Yokohama Rubber+7.21%.

In Australia, the S&P/ASX 200 closed at 6,992.70, down 37.10 or -0.53%, and the All Ordinaries closed at 7,238.70, down 39.90 or -0.55%, as investors worried about inflation. China released its Consumer Price Index (CPI) in July, which hit a two-year high. St. Barbara-11.57%, A2 Milk-6.85%, and Nickel Mines-5.68% were the worst performers. The best performers were Whitehaven Coal+5.12%, Graincorp+5.10%, and ANZ Banking Group+3.35%.

China’s Shanghai Composite closed down 17.41 points, or -0.54%, at 3,230.02 points after Chinese authorities reported that inflation had reached a two-year high. The biggest losers were Jinan Shengquan Share Holding (-9.99%), Huizhou Desay A(-9.61%), and Farasis Energy Gan Zhou Co(-8.18%). The best performers were Guangdong Shenling Environmental Sys.+20%, Ningbo Runhe A+20%, and Westown Electric+19.98%.

The South Korean Composite (KOSPI) closed at 2,480.88, down 22.58, or 0.9%, as several U.S. tech firms expected earnings to be rather less than rosy. Global chip demand is expected to slow further. Gaon Cable-12.76%, DoubleU Garmes-7.02%, and Meritz Financi-5.94% were the worst performers. The best performers were Kumyang+2077%, Daewoo Elec Co+15.38%, and Cosmo Cjem+11.93%.

The Hang Seng in Hong Kong closed down 392.60 points, or -1.96%, at 19,610.84 points as investors awaited U.S. inflation data released today. The losers were State Innovation Holdings (-32.26%), Zhejiang Yonglong Enterprises (-28.75%), and Hanvey (-28.26%). The winners were MIE Holdings Corp+100%, Hing Lee HK+44.44%), and Shandong Fengxiang+31.25%.

In Thailand, the SET closed at 1,617.21, down 1.59 or -0.10%. The worst performers were AQ Estate-33.33%, IT City-25.73% and Wow Factor-12.28%. The best performers were Indhara Insurance+22.94%, United Mosaic Industries+16.79% and Amata VN+14.49%.

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