Business News Asia
Tokyo Nikkei closed down 430.06 or -1.53% at 27,661.47 points, with trading conditions remaining under pressure as U.S. and European stock markets closed further down yesterday. Unitika (-4.62%), Marubeni Corp (-4.24%), and Denso Corp (-4.17%) were the worst performers. The best performers were Sekisui House+5.96%, Japan Steel Works+2.91%, and Haseko+2.81%.
In Australia, the S&P/ASX 200 closed at 6,845.60, down 141.20 or -2.02%, and the All Ordinaries closed at 7,079.90, down 146.20 or -2.02%, as rising bond yields weighed on higher-risk equities. Pointsbet Holdings-15.86%, Ramelius Resources-9.26%, and Perseus Mining-8.57% were the worst performers. A2 Milk (+2.70%), Parenti Global Ltd (+1.92%), and Polynovo (+1.91%) were the best performers.
China’s Shanghai Composite closed down 17.16, or -0.54%, at 3,184.98 points as investors worried about the impact of a new round of lockdown measures in China, as well as reports of a slowdown in China’s manufacturing sector in August. Nanjing Baose-11.02%, Boai NKY Pharmaceuticals Ltd-10.73%, and Suzhou Mingzhi Technology Co-10.07% were the worst performers. The best performers were Zhengzhou J+19.97%, Guangdong Huate Gas Co+16.05%, and Cambricon Technologies+13.33%.
The South Korean Composite (KOSPI) closed at 2,415.61, down 56.44, or -2.28%, as investors anticipate an aggressive rate hike by the Federal Reserve (Fed), and the won fell to its lowest level in 13 years against the U.S. dollar. The losers were Dongbu Steel-12.35%, HYBE-8.25%, and Hwacheon Machi-7.52%. The gainers were IIjeong Ind+15.11%, Han Kood Steel+13.01%, and Hanmiglobal+10.92%.
Hong Kong’s Hang Seng closed down 357.08 points, or -1.79%, at 19,597.31 points as investors continued to expect the Federal Reserve (Fed) to raise interest rates to curb inflation. The losers were WWPKG-52.52%, Hao Bai International Cayman-47.67%, and Wan Leader International-41.80%. The gainers were Wonderful Sky Financial+35.90%, China Aluminum Cans+28.79%, and WaInut Capital+25.81%.
In Thailand, the SET fell 1,621.95, down -16.98 or -1.04%. The losers were Thiensuwat-14.60%, TWZ-12.50%, and K.C. Property- 9.09%. The gainers were Syn Munkong Insurance+29.71%, Bangkok Union Insurance+29.69%, and Allianz Ayudhya Capital+15.34%.