Asian stock markets closed mixed as investors are concerned about an economic slowdown

Tokyo’s Nikkei closed down 11.81, or -0.04%, at 28,930.33 points, after the Nikkei’s brief rally above 29,000 overshadowed buying momentum from export and technology companies. The losers are Trend Micro Inc.-3%, Daiichi Sankyo-2.91% and Nippon Sheet Glass-2.69%. The winners are Fujikura+6.60%, Pacific Metals+3.64% and JGC Corp.+3.52%.

In Australia, the S&P/ASX 200 closed at 7,114.50, up 1.70 or +0.024%, and the All Ordinaries closed at 7,358.70, up 1.00 or +0.014%, with the market recovering from yesterday’s decline on weaker July employment data. Santos (+6.36%), Whitehaven Coal (+6.20%), and Resolute Mining (+5.36%) were the best performers. The worst performers were TPG Telecom-12.39%, Inghams Group-9.43% and Pointsbet Holdings-6.57%.

South Korea’s composite index (KOSPI) closed at 2,494.69, down 15.36 or -0.61%, amid uncertainty over the Federal Reserve’s interest rate hike, while the won weakened against the US dollar near its low for the year. Losers were Dentium-8.19%, CocoaBank-8.17% and Hansae Co-6.15%. The winners were Daidong Elec+29.76%, Sidiz+19.52%, SNTEnergy+10.32%.

China’s Shanghai Composite closed down 19.47, or -0.59%, at 3,258.08 points as investors continued to believe that the COVID-19 epidemic would lead to a slowdown in the domestic economy. The worst performers were Trina Solar Co-15.07%, Jiangsu Beiren Robot System Co-14.43% and Hunan Jiudian Pharma-13.10%. The best performers were Guandong Anda Autonation+18.32%, Hengxin Mobile Business+15.10% and Mingvue Optical Lens+14.85%.

The Hang Seng in Hong Kong closed at 19,773.03 points, up 9.12 points or 0.05% as investors traded hesitantly after the market opened in negative territory. The best performers were Holly Futures Co+48.09%, Kiu Hung Intl+26.92% and Nan Nan Resources Enterprise+23.53%. The worst performers were Mexan-42.78%, Fameglow-25% and Kaosa Capital Investment Holdings-20.63%.

The Thai SET closed down 9.16 points or -0.56% at 1,626.91 points. The losers were Indara Insurance-12.56%, Royal Plus-8.97%, and Nono Technology-8.07%. The winners were S. Pack & Print +8.29%, Fort +5.24%, and Triton Holding +5.56%.

Leave a Reply

Change Language
%d bloggers like this: