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Asian stock markets closed mixed at the start of the week

The Nikkei in Tokyo closed at 28,794.50 points, down 135.83 points or -0.47%. The losers were Hino Motors-3.53%, CyberAgent Inc-3.21%, and Nippon Sheet Glass-2.76%. The winners were Inpex Corp +3.01%, JGC Corp+2.96%, and Daiichi Sankyo+2.75%.

In Australia, the S&P/ASX 200 closed at 7,046.90, down 67.60 or -0.95%, and the All Ordinaries closed at 7,287.20, down 71.50 or -0.97%. The worst performers were Adbri-16.92%, Magellan Financial Group-9.91%, and Ramelius Resources-7.22%. The best performers were NIB Holdings (+7.02%), EML Payments (+6.13%), and Nearmap (+5.34%).

The South Korean Composite (KOSPI) closed at 2,462.50, down 30.19 or -1.21%, down more than 1%, as investors are concerned about the Federal Reserve’s monetary tightening and the global economy. The worst performers were Central Motek-8.60%, Chasys-7.83%, and IS Dongseo-7.44%. The best performers were Sidiz+13.17%, Chonbang+12.43%, and Korea Eng Cons+10.38%.

China’s Shanghai Composite Index closed up 19.72 points, or 0.61%, at 3,277.79 after the People’s Bank of China (PBOC) announced a cut in the one- and five-year lending rate (LPR) to support the economy’s recovery. Infotmic A(+488.44%), GCH Technology Co(+20%), and Guangdong Lyric Robot Automation(+20%) were the best performers. Fujian Yuanxiang New Materials-18.54%, Easy Click Worldwide Network-15.79%, and Chengdu XGimi Technology Co-14.09% were the worst performers.

Hong Kong’s Hang Seng closed down 116.05 points, or -0.59%, at 19,656.98 on fears that the Federal Reserve will accelerate its rate hike at its meeting next month. The losers were TCL Multimedia Tech(-20.46%), Wan Kei(-20.11%) and GOME(-20%). The winners were Tianjin TEDA Biomedical Engineering+40.19%, China Investment and Finance+38.33%, and Swang. Chai Chuan+32.91%.

In Thailand, the SET closed at 1,614.48, down 11.61 or 0.64%. The worst performers were Nam Sin Insurance Company-11.18%, OCC-7.63% and Indara Insurance-7.18%. The best performers were Union Plastic (+27.27%), Buriram Sugar (+16.81%) and TWZ (+14.29%).

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