Business News Asia
Tokyo Nikkei closed slightly higher at 27,688.42 points, up 120.77 points, or +0.44%, as investors await the Federal Reserve meeting on Tuesday and Wednesday and await the results. Will the Fed’s decision weaken the yen or not? The gainers were Unitika+7.33%, Pacific Metals+5.69%, and Tokai Carbon+4.78%. The losers were Kawasaki Kisen Kaisha-3.28%, Konami Corp.-2.74%, and Tokyo Tatemono-1.98%.
In Australia, the S&P/ASX 200 closed at 6,806.40, up 86.50, or +1.29%, and the All Ordinaries closed at 7,030.10, up 81.50, or +1.17%, after the Dow Jones Industrial Average rose nearly 200 points on Monday. The gainers were Brickworks+5.75%, Mineral Resources+5.26%, and Lynas Rare Earths+4.90%. The losers were Polynovo-4.70%, Clinuvel Pharmaceuticals-4.11%, and Austal-2.78%.
China’s Shanghai Composite closed up 6.80 points, or +0.22%, at 3,122.41 points, in line with most global equity markets that gained. Shenzhen Chengtian Weiye Tech (+20%), Beijing New Universal Science (+20%), and Guangzhou Haozhi Industrial (+16.09%) were the best performers. The worst performers were Letong Chemical A-9.97%, Anhui Ankai A-9.88%, and Hangzhou Prevail Optoelectronic-8.90%.
South Korea’s Composite Index (KOSPI) closed at 2,367.85, up 12.19, or +0.52%, as investors got into stocks after a sharp sell-off. The won currency gained against the US dollar. The gainers were Hwacheon Machi+29.95%, Sjm Holdings+24.62%, and Dae Won Chem+20.36%. The losers were Hansol Chemica-6.50%, Tcc Steel-5.53%, and Hwaseung RA Co-5.15%.
The Hang Seng in Hong Kong closed up 215.45 points, or +1.16%, at 18,781.42 points, after the market closed more than 100 points lower yesterday. The best performers were Huajum (+500%), Most Kwai Chung (+42.11%), and Farmova Holdings (+35.84%). The worst performers were Dongguang Chemical-21.74%, Mingfa Group Int-21.62%, and Future Bright Mining-20.34%.
In Thailand, the SET closed up 7.02 or 0.43% at 1,638.59. The winners were Wave Entertainment (+25.57%), Grand Asset Hotels and Properties (+14.29%),and TWZ (+14.29%). The losers were AQ Estate-33.33%, Thaicom-7.63%, and Team Consulting Engineering and Management-7.03%.