Asian stock markets closed higher ahead of US inflation data

Tokyo’s Nikkei closed higher at 28,614.63, up 72.52 or +0.25%, as transport stocks benefited from news that the Japanese government plans to ease entry restrictions in response to the COVID-19 measures. The winners were East Japan Railway Co +4.23%, Sumitomo Metal Mining+3.93%, and Kawasaki Kisen Kaisha+3.60%. Losers were Mazda Motor-3.80%, Subaru Corp-2.73%, and SKY Perfect JSAT Holdings Ins.-2.51%.

In Australia, the S&P/ASX 200 closed at 7,009.70, up 45.20 or +0.65%, and the All Ordinaries closed at 7,253.70, up 45.50 or +0.63%, driven by a rise in global equity markets and forecasts that inflation numbers in the U.S. will slow. The winners were Hub24 Ltd+5.73%, Parenti Global Ltd+5.49%, and Clinuvel Pharmaceuticals+4.80%. The losers were Link Administration Holdings Ltd-20.09%, Ramsay Health Care-10.35%, and Pointsbet Holdings-2.56%.

China’s Shanghai Composite closed slightly higher at 3,263.80, up 1.74 or +0.05%, after the Chinese Premier pledged to implement measures to stabilize the economy. The best performers were Suzhou Shihua New Material Technology (+20.02%), Haibo Heavy Engineering (+16.16%), and Shanghai GuAo Electronic (+14.03%). The worst performers were Shenzhen Kexin Communication-15.99%, Jiangsu Tongxingbao Intelligent-14.70%, and Pharmaron Beijing-13.95%.

The South Korean Composite (KOSPI) closed at 2,449.54, up 65.26 or +2.74%, as investors were optimistic ahead of the release of the US Consumer Price Index (CPI) for August, while the won currency rose against the US dollar. The winners were Dongkuk Steel Mill Co+14.79%, Hae In+13.43%, and Isu Chemical Co+12.63%. The losers were Jayjun Co-8.91%, LIG Nex1 Co Ltd-7.44%, and Hyundai Electric&Energy-6.32%.

The Hang Seng in Hong Kong, closed down 35.39 or -0.18% at 19,326.86 as investors sold their shares for profit after the market moved into positive territory in the morning, following the direction of the Dow Jones Industrial Average, which closed higher on Monday, September 12. The worst performers were Lepu Biopharma (-43.23%), Sunkwan (-38.27%), and Fullsun International Holdings (-30%). The best performers were Huili Resources (+45.45%), Hing Lee HK (+43.44%), and Immunotech (+38.86%).

In Thailand, the SET fell to 1,662.30, down -2.44% or -0.20%. The losers were TWZ-12.50%, Allianz Ayudhya Capital-12.22%, and Thai food. Group -7.41%. The gainers were AQ Estate+50%, TRC Construction+24%, and PP Prime+26.67%.

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