The Magazine for Asian Investors
Tokyo’s Nikkei closed almost 3% lower at 27,818.62, down 796.01 or -2.78%, in line with the Dow Jones Industrial Average, which closed more than 1,200 points lower on Tuesday. The losers were Omron Cor-4.95%, Ebara Corp.-4.61%, and Softbank Group Corp.-4.40%. The gainers were Chiba Bank+0.92%, Mitsubishi Heavy Industries+0.83%, and Takashimaya+0.48%.
In Australia, the S&P/ASX 200 closed at 6,828.60, down 181.10 or -2.58%, and the All Ordinaries closed at 7,071.80, down 181.90 or -2.51%, as U.S. stock markets fell sharply following the release of the U.S. Consumer Price Index (CPI), whose figures came in higher than forecast. The losers were Megaport Ltd-10.01%, Gold Road Resources-7.19%, and Clinuvel Pharmaceuticals-6.91%. Resolute Mining+3.85%, Mesoblast+3.83%, and Nuix+3.13% were the gainers.
South Korea’s Composite Index (KOSPI) closed at 2,411.42, down 38.12, or 1.56%, after the U.S. reported higher-than-expected inflation. As a result, the market is concerned that the U.S. Federal Reserve may raise interest rates higher. The losers were Sam-A Aluminiu-12.81%, HLB Global-6.05%, and Han Kook Steel-5.57%. Sewon E&C+29.40%, GeneOne Life Science+12.50%, and Hanchang+10.05% were the gainers.
China’s Shanghai Composite closed down 26.26 points, or -0.80%, at 3,237.54 points, following the trend of global stock markets, which fell after the release of unexpectedly high inflation figures in the U.S. This led to speculation that the U.S. Federal Reserve (Fed) will raise interest rates higher. Beginner Comm A (-10%), Guizhou Wire Rope (-9.99%), and Zhonglu A (-9.99%) were the worst performers. Inner Mongolia Furui Med Sci (+13.97%), Focus Hotmelt (+12.92%), and Great Microwave Tech (+10.56%) were the best performers.
The Hang Seng Index in Hong Kong closed down 479.76 points or -2.48% at 18,847.10 points. The worst performers were Yeah Yeah Holdings (-32.56%), Perfectech Intl (-24.05%), and SV Vision (-23.08%). The best performers were Telecom Service One+82.19%, China Ever Grand Financial Leasing+59.57%, and Future Data+59.09%.
In Thailand, the SET closed at 1,658.40, down 2.69% or -0.16%. The losers were S&J International Enter-5.51%, Raimon Land-3.80%, and Allianz Ayudhya Capital-3.63%. The gainers were Thai Film Industry (+29.41%), Thai-German Products (+14.29%), and KWI (+11.76%).