Asian stock markets closed lower on Monday

Tokyo’s Nikkei closed at 27,619.61, down 31.23 or -0.11%, amid concerns that the global economic outlook may be hurt by the Federal Reserve raising interest rates to curb inflation. The losers were Odakyu Electric Railway-3.33%, Keisei Electric Railway-2.75%, and Casio Computer-2.16%. The winners were Chiyoda Corp (+7.20%), JGC Corp (+4.64%), and Toppan Printing (+3.22%).

In Australia, the S&P/ASX 200 closed at 6,852.20, up 23.50 or +0.34%, and the All Ordinaries closed at 7,074.50, up 18.20 or +0.26%, driven by strong buying in mining stocks. Investors turn their attention to the Reserve Bank of Australia’s monetary policy meeting. The Gainers were Whitehaven Coal+6.52%, Beach Energy+5.18%, and Woodside Energy+4.25%. The losers were Pointsbet Holdings-6.44%, Kogan.com-5.07%, and Fortescue Metals-4.59%.

The South Korean Composite Index (KOSPI) closed at 2,403.68 points, down 5.73 points, or -5.73%, on concerns about an aggressive interest rate hike by the Federal Reserve (Fed) and the global economic recession. The worst performers were Dynamic Design-12.14%, Jayjum Co-10.89%, and Daidong Elec-10.78%. The best performers were IIsung Pharm+29.89%, Samho Dev+15.97%, and In The F+12.23%.

China’s Shanghai Composite closed up 13.43 or +0.42% at 3,199.91, benefiting from rising energy stocks ahead of the OPEC and OPEC+ meeting starting today. The best performers were Jiangsu Yida Chemical A (+20%), Zhuhai Hokai Med Instruments (+19.08%), and Zhangjiagang Furui Special Equip (+18.09%). The worst performers were Shandong Xinjufeng Technology-13.40%, Hengbao A-10.02%, and H R Century Union-10.02%.

The Hang Seng in Hong Kong closed down 226.39 points, or -1.16%, at 19,225.70 points on concerns about the European energy crisis. Gazprom, a major Russian energy company, announced that it would indefinitely suspend gas supplies to Europe via the Nord Stream 1 pipeline. The worst performers were Kidztech (-58.82%), Sunkwan (-35.33%), and Perenial Energy (-32.14%). The best performers were Hong Kong Aerospace Technology (+75.14%), Future Word Fin (+64.62%), and Zhongshi Minan Holdings (+37.50%).

In Thailand, the SET closed at 1,622.00 points, down 0.15 points or -0.01%. The losers were TWZ-12.50%, Syn Munkong Insurance-10.37%, and Jasmine Telecom Systems-10.28%. The winners were Peace & Living+11.37%, Buriram Sugar+10.74%, and Civil Engineering+10.65%.

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