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Most Asian stock markets closed in the red as investors are concerned about a recession

Tokyo’s Nikkei closed at 28,313.47, down 139.28, or -0.49%, to its lowest level in two weeks after the U.S. released weak economic data. The worst performers were Konami Corp -2.82%, Marui Group-2.28%, and Tokyo Electron-2.18%. The best performers were Tokyo Electric Power Co, Inc +9.96%, Mitsubishi Heavy Industries +16.85%, and Toho Zinc +6.08%.

In Australia, the S&P/ASX 200 closed at 6,998.10, up 36.30, or +0.52%, and the All Ordinaries closed at 7,242.30, up 43.10, or 0.60%, driven by a rebound in energy stocks after oil prices rose nearly 4%. The top performers were Wisetech Global+12.77%, IIuka Resources+9.84%, and Pointsbet Holdings+8.70%. The losers were EML Payments-10.55%, Nanosonics-5.56%, and Adbri-4.76%.

South Korea’s Composite Index (KOSPI) closed at 2,447.45, up 12.11, or 0.5%, after five days of losses as investors bought stocks that had previously sold off sharply. The best performers were Hyundai Energy+17.35%, Hyundai-Rotem+17.16%, and Pyung Hwa Ind+11.46%. The worst performers were Cs Holdings-7.43%, AJ Networks Co Ltd-7.23%, and Dentium-6.96%.

China’s Shanghai Composite closed at 3,215.20, down 61.02 or -1.86% to a 2-week low as investors worried about a slowdown in the Chinese economy. The losers were Kinco Automation Shanghai Co(-15.27%), leader Harmonious Drive Systems(-13.41%), and SVG Optronics(-12.43%). Zhejiang Haiyan Power System Resources+20%, EleFirst Science Tech+14.24%, and Wuxi Online Offline Communication Info+12.42% were the winners.

The Hang Seng in Hong Kong closed down 234.51 points, or -1.20%, at 19,268.74 points after the U.S. released weak economic data. Investors turn their attention to the annual meeting of the U.S. Federal Reserve (Fed), which will be held this week in Jackson Hole. The losers were Logan Property Co(-51.38%), C&D Intl Investment(-28.90%), and C D Property Management Group Co(-27.56%). The winners were Qidian International+89.47%, Energy Intl Investments+34%, and Glory Flame+23%.

In Thailand, the SET closed at 1,631.55, down -2.02 or -0.12%. The losers were Principal Capital-19.47%, Castle Peak Holdings-12.37%, and NF. C-10.2%. The winners were Thai Plastic Coated Fabric Industry+18.80%, Master Ad+7.69%, and T.K.S Technology+7.62%.

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