Asian stock markets close volatile after China released weak economic data

The Tokyo Nikkei rose to a 7-month high to close at 28,871.78, up 324.80, or 1.14%, supported by good earnings from some Japanese public companies. The best performers were Daiichi Sankyo (+14.52%), Softbank Group Corp (+5.17%), and DeNA Co (+5.07%). The worst performers were Citizen Holdings-4.93%, Kawasaki Kisen Kaisha-3.44%, and Recruit Holdings-3.32%.

In Australia, the S&P/ASX 200 closed at 7,064.30, up 31.80 or +0.45%, and the All Ordinaries closed at 7,324.90, up 36.10 or +0.50%, driven by the rally in mining stocks. The best performers were Nearmap+24.83%, Champion Iron Ltd+6.40%, and Carsales.com+5.77%. Beach Energy-11.08%, Zip-8.54%, and Bendigo & Adelaide Bank-8.35% were the worst performers.

China’s Shanghai Composite closed down 0.80 or -0.024% at 3,276.09 points after China released weak economic data. However, it moved slightly lower as investors reacted to the Chinese central bank’s rate cut to boost the economy. The losers were Chengdu Qushui Science (-18.80%), Vanjee Technology (-13.17%), and Shiyan Taixiang Industry (-11.63%). The top gainers were Siglent Tech+20%, Sanhe Tongfei Refrigeration Co+20%, and Inno Laser Technology Co+16.98%.

The Hang Seng in Hong Kong closed down 134.76 points or -0.67% at 20,040.86 points after China released weak economic data. The worst performers were Sinco Pharmas (-67.98%), Renco Holdings Group Ltd (-23.26%), and Basetrophy (-22%). The best performers were Huili Resources (+48.15%), Crown International (+44.12%), and Guangdong Kanghua (+44.44%).

South Korean stock markets are closed today (August 15) for Liberation Day.

Thai SET closed at 1625.25 points, up 2.99 points or +0.18%. The best performers were Indra Insurance+29.89%, Asia Fiber+29.81%, and Castle Peak Holdings+29.69%. The worst performers were M.C.S. Steel -9.73%, Karmart -9.60%, and S. Kitchen Enterprise -8.13%.

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