Asian stock markets closed mixed due to sluggish Chinese economic data

The Tokyo Nikkei stock market closed up 634.98 points, or +2.3%, at 28,065.28, following the direction of the Dow Jones Industrial Average gains on Wednesday (September 7). The winners were NTN Corp.+6.87%, Olympus Corp.+4.75%, and Rakuten Inc.+4.63%. The losers were Mitsui Engineering & Shipbuilding-1.62%, Kawasaki Heavy Industries-1.62%, and Mitsui Fudosan-0.93%.

In Australia, the S&P/ASX 200 closed at 6,848.70 up 119.40 or +1.77%, and the All Ordinaries closed at 7,085.30 up 126.00 or +1.81%, driven by the rally in tech stocks and financials. The gainers were Megaport Ltd+12.57%, Zip+8.98%, and Nufarm+7.79%. The losers were Woodside Energy-5.50%, Alumina-2.47%, and Medibank Private Ltd-1.69%.

South Korea’s Composite Index (KOSPI) closed at 2,384.28, up 7.82 or +0.33%, on buying pressure from institutional investors, while the won currency gained against the US dollar. HLB Global+29.96%, Cho Kwang Pain+20%, and Isu Chemical Co+15.14% were the gainers. The losers were Seoyon-7.32%, Boryung Pharm-7.11%, and Korea Aerospac-7.04%.

China’s Shanghai Composite closed down 10.71, or -0.33%, at 3,235.59 points. Investors are concerned that China’s continued lockdown of key cities to contain the spread of COVID-19 will hurt the country’s economic outlook. Xinmao Sci&Tech A(-10.11%), NF Foodstuff A(-10.07%), and Delong Composite Energy(-10.01%) were the worst performers. Shengtak New Mat+20%, Nanjing Bacse+12.73%, and Cubic Digital Technology+10.28% were the best performers.

The Hang Seng in Hong Kong closed down 189.68 points, or -1.00%, at 18 854.62 points, closing in the red for the sixth consecutive day. Investors are still worried after China released sluggish economic data. The worst performers were Avic Joy HK (-47.37%), StarGlory Holdings (-25.33%), and Excalibur Global (-22.96%). The best performers were Cambridge Pharmaceuticals (+43.48%), Pak Tak Intl (+33.82%), and China Greenland Broad (+33.82%).

In Thailand, the SET closed at 1,640.00 points, up 0.08 points or +0.00%. The winners were Waropakorn+14.71%, Sin Munkong Insurance+10.38%, and Royal Plus+8.70%. The losers were TD. Lew Z-12.50%, Union Plastic-7.31%, and Esso-7.09%.

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