The Nikkei index in Tokyo closed down 308.26 points, or -1.11%, at 27,567.65 points as investors feared that the Federal Reserve (Fed) will raise interest rates faster to curb inflation after the release of strong economic data in the US. The losers were Kawasaki Kisen Kaishy-5.10%, Nippon Express-4.99%, and Trend Micro Inc.-4.76%. The gainers were Fukuoka Financial Group, Inc.+4.25%, Resona Holdings, Inc.+3.57%, and Shizuoka Bank. +3.52%.
The S&P/ASX 200 closed down more than 1% at 6,747.00 points, down 95.90 points or -1.40%, and the All Ordinaries closed at 6,983.30 points, down 99.20 points or -1.40%. The losers were Resolute Mining-15.09%, Atlas Arteria-9.70%, and Gold Road Resources-8.76%. The winners were Star Entertainment+5.07%, Computershare+4.42%, and Tabcorp Holdings+4.26%.
South Korea’s composite index (KOSPI) closed at 2,382.78, down 19.05, or -0.79%, after the latest U.S. economic data supported the view that the Federal Reserve will raise interest rates again at its meeting next week. The losers were LX International-15.02%, Isu Chermical C0-10.52%, and Jconteentree-8.66%. The winners were Histeel+15.98%, Seong An+10.29%, and Able C&C+9.69%.
China’s Shanghai Composite closed down more than 2% at 3,126.40, down 73.52 points, or -2.30%, led by a sharp drop in brokerages after China’s cabinet asked brokerages to cut service fees. The news overshadowed positive economic data from China, which was better than expected. The worst performers were Voneseals Technology Shanghai(-13.52%), Guangdong Modern High(-12.80%), and Beijing Compass(-11.03%). The best performers were Guoguang Electric+11.57%, Shengtak New Mat+10.69%, and Shenzhen Sea Star Technology+10.09%.
Hong Kong’s Hang Seng closed down 168.69 points (-0.89%) at 18,761.69, with securities conglomerates selling off sharply after Chinese authorities ordered companies to cut their service fees. The worst performers were Yeah Yeah Holdings(-33.33%), Perfectech Intl(-29.17%), and Sinopharm Tech Holdings(-23.08%). The best performers were Ev Dynmics Holdings+34.29%, Okura Holdings+30.19%, and China Singyes New Materials+29.69%.
In Thailand, the SET closed at 1,631.70, down 10.98 or -0.62%. The losers were Fort-11.36%, NFC-8.45%, and Thai Fabric Factory-7.50%. The gainers were AQ Estate+50%, STP&I+16.13%, and Wave Entertainment+12.50%.