Asian stock markets closed mixed – Bank of Australia raises interest rates as expected

Tokyo’s Nikkei closed slightly higher at 27,626.51, up 6.90 or 0.02%, with export stocks benefiting from the yen’s depreciation against the dollar to a 24-year low. Gainers were Unitika+7.47%, Toho Zine+4.19%, and Hitachi Zosen Corp.+3.08%. Losers were Tokyo Electric Power Co.Inc-4.36%, Rakuten Inc-2.82%, and Chiyoda Corp.-1.85.

In Australia, the S&P/ASX 200 closed at 6,826.50, down 25.70 or -0.38%, and the All Ordinaries closed at 7,055.90, down 18.60 or -0.26%, after the Reserve Bank of Australia raised interest rates today. The losers were Super Retail Group-6.21%, Codan-5.63%, and Breville Group-4.94%. Pilbara Minerals Ltd+7.03%, Megaport Ltd+5.22%, and Nuix+4.80% were the gainers.

China’s Shanghai Composite closed more than 1% higher at 3,243.45, up 43.53 points, or 1.36%, after the Chinese government signaled it would introduce stimulus measures to mitigate the impact of the coronavirus pandemic. The best performers were Liaoning Oxirancherm Inc(+20%), Shenzhen Kexin Communication(+20%), and Inno Laser Technology Co(+20%). The worst performers were HR Century Union-10% and Ningbo Bird-7.22. %, and Sz Zero-Serven A-7.01%.

The South Korean Composite Index (KOSPI) closed at 2,410.02, up 6.34, or +0.26%, as investors took hold after three consecutive trading days of declines. The won currency hit a 13-year low against the US dollar. Nirooholding+13.38%, Kumyang+12.93%, and Jayjun Co+11.43% were the gainers. The losers were Samho Dev-9.04%, Cho Bi-5.19%, and Hanjinkal-5.01%.

The Hang Seng in Hong Kong closed down 22.97 points or -0.12% at 19 202.73 points. The worst performers were Capital VC(-44.12%), MResources-(36.67%), and Wisdom Sports Group(-34.38%). The best performers were Milan Station (+88.46%), Koolearn Technology Holding (+31.47%), and Oriental Unversity City HK (+25%).

In Thailand, the SET closed up 11.87 points, or +0.73%, at 1633.87, on gains in major stocks. The gainers were Consulting Engineering and Management Team+29.46%, Jasmine Telecom Systems+14.58%, and TWZ+14.29%. The losers were Sinmunkong Insurance-15.29%, Bangkok Union Insurance-5.15%, and Thiensurat-4.39%.

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