Business News Asia
Tokyo’s Nikkei closed higher at 27,875.91, up 57.29 or +0.21%, after closing sharply lower yesterday. However, it did not gain much as investors expect the U.S. Federal Reserve (Fed) to raise interest rates again next week. The gainers were Shiseido+2.47%, Sumitomo Realty & Development Co.+2.28%, and Unitika+2.24%. The losers were Toho Zinc-3.27%, Mitsubishi Logistics Corp.-2.48%, and Dentsu Inc.-2.31%.
In Australia, the S&P/ASX 200 closed at 6,842.90, up 14.30, or +0.21%, and the All Ordinaries closed at 7,082.50, up 10.70, or +0.15%, driven by the view that the August rebound in the unemployment rate may indicate a slowdown in the economy and prompt the Reserve Bank of Australia to slow its rate hikes. Gainers were Whitehaven Coad+4.60%, Woodside Energy+4.30%, and Worley Ltd+3.68%. The losers were South32-7.41%, Nanosonics-5.99%, and Nuix-5.45%.
The South Korean Composite (KOSPI) closed at 2,401.83, down 9.59, or 0.4%, as investors feared the Federal Reserve would raise interest rates further next week. Losers were Aprogen KIC-8.40%, GeneOne Life Science-8.23%, and Shinpoong Phar-7.89%. The gainers were Hannong Chem+17.95%, OCI Co+15.87%, and Cho Kwang Pain+14.56%.
China’s Shanghai Composite closed down 37.62 points, or -1.16%, at 3,199.92 points after the People’s Bank of China left the key interest rate unchanged. The worst performers were Shenzhen Hymson Laser Intelligent Equip (-15.39%), Guangzhou Great Power (-14.76%), and Lingda (-14.59%). The best performers were Wuhan Nusun Landscape (+15.21%), Great Wall Of Culture (+15.10%), and 5I5j Holding (+10.10%).
The Hang Seng in Hong Kong closed at 18,930.38 points, up 83.28 points, or 0.44%, as investors took a hit after the Hang Seng closed more than 400 points lower yesterday (Sept. 14) following higher-than-expected U.S. inflation. This has investors worried that the U.S. Federal Reserve (Fed) will raise interest rates higher. The best performers were BCI Group (+42.11%), Dashan Education (+40%), and Sing Lee Software (+37.93%). The worst performers were F8 Enterprises-27.63%, Okura Holdings-26.47%, and China Singyes New Materials-20%.
In Thailand, the SET closed down 1,644.39, down -12.19 or -0.74%. The losers were Rockworth-13.33%, S Hotels & Resorts -8.99%, and Thai Film Industries -9.09%. The gainers were U City+18.20%, TWZ+14.29%, and TCM Corporation+10.92%.