The Magazine for Asian Investors
Tokyo’s Nikkei closed down 375.29 points, or -1.36%, at 27,313.13 points as auto stocks gained on the back of Ford Motor’s recovery last night in the US. The losers were Unitika-7.51%, Pacific Metals-4.61%, and Daikin Industries-3.94%. The gainers were Japan Steel Works+4.11%, Kawasaki Kisen Kaisha+2.17%, and Kobe Steel+1.86%.
In Australia, the S&P/ASX 200 closed at 6,700.20, down 106.20 or -1.56%, and the All Ordinaries closed at 6,921.40, down 108.60 or -1.54%, after Rio Tinto warned that copper prices could come under short-term pressure due to inflation and supply chain issues. The losers were Nuix-7.59%, Zip-5.81%, and Champion Iron Ltd-5.56%. Washington H Soul Pattinson+4.96%, Viva Energy+4.56%, and Whitehaven Coal+3.82% were the gainers.
South Korea’s composite index (KOSPI) closed at 2,347.21, down 20.64, or 0.87%, as investors awaited the outcome of the Federal Reserve’s (Fed) monetary policy meeting, where interest rates are expected to be raised sharply. The losers were Hanmi Pharm Co-15.54%, Hanmi Science-14.64%, and Hyungji Elite-8.72%. The gainers were Hwacheon Machi+29.90%, ENPlus Co Ltd+18.01%, and Sjm Holdings+12.39%.
China’s Shanghai Composite closed down 5.23 points or -0.17% at 3,117.18 points in line with weakening global equity markets. The worst performers were Haibo Heavy Engineering (-16.93%), Guangzhou Jinyi Media (-10%), and Beijing Oriental Jicheng (-10%). The best performers were Shenzhen Liande Automatic+19.99%, Zhidemai Technology+10.94%, and Nanijing Seg A+10.12%.
The Hang Seng in Hong Kong closed down 336.80 points, or -1.79%, at 18,444.62 points as investors feared that the Federal Reserve would raise interest rates again at its meeting ending today. The worst performers were Xin Yuan Enterprises (-50%), Huajun (-43.50%), and BCI Group (-42.36%). The best performers were China Greenland Broad+33.59%, China Digital Video(+33.33%), and Shandong Fengxiang+27.27%.
In Thailand, the SET closed at 1,636.27 points, down 2.09 points or 0.10%. The losers were Castle Peak Holdings -5.52%, Thiensurat -4.76%, and Triton Holdings -4.35%. The gainers were AQ Estate+50%, Wave Entertainment+27.78%, and Vail Graded Engineering+10.20%.