Asian stock markets closed mostly higher as investors bought the recent dip

The Nikkei recovered to close up 140.32 points, or +0.53%, at 26,571.87 as investors got back into stocks after yesterday’s sharp decline. The gainers were Konamil Corp +4.01%, Hitachi Zosen Corp +3.86%, and Mitsui Engineering & Shipbuilding+2.82%. The losers were Rakuten Inc-3.43%, Shionogi-1.71%, and Kawaski Kisen Kaisha-1.55%.

In Australia, the S&P/ASX 200 closed at 6,496.20, up 26.80 or 0.41%, and the All Ordinaries closed at 6,696.50, up 29.00 or 0.43%, driven by the recovery of mining companies. In addition, Australian stock markets recovered following several Asian stocks after the market fell sharply in recent days. The gainers were Whitehaven Coal+6.83%, Megaport Ltd+6.72%, and Pointsbet Holdings+6.22%. The losers were Fisher&Paykel Healthcare-3.49%, and Nuix-3.20%.

The South Korean Composite (KOSPI) rose 2.92, or +0.13%, to 2,223.86, on buying pressure after a four-day loss. The gainers were Sjm Holdings (+17.02%), Youlchon Chem. +15.12%, and Yg Plus Inc+13.86%. The losers were Daewoo Shipbuilding-18.24%, Chonbang-10.28%, and Korea Ind-9.52%.

China’s Shanghai Composite closed up 42.64 points, or +1.40%, at 3,093.86 points, with markets recovering from a four-day decline, led by strong rallies in tourism and consumer goods stocks. The Chinese stock market is closed next week for the National Day holiday. Wuhan Huakang Century Medical (+20%), Kunshan Kinglai Hygienic Materials (+18.87%), and Shanghai Gen Tech (+16.12%) were the best performers. The worst performers were Xuelong Group Co-10%, Beijing Liven Technology-7.34% ,and Shandong Kaisheng New Materials-7.21%.

The Hang Seng in Hong Kong closed slightly higher at 17,860.31 points, up 5.17 or +0.03%, after closing in negative territory for several consecutive days. The best performers were Bortex Global (+52.79%), GCL New Energy Holdings Ltd (+45%), and Jinke Smart (+32.59%). The worst performers were Starlight Culture Entertainment-28.57%, Sino Golf-27.97%, and Daisho Microline-27.06%.

In Thailand, the SET closed down 1,610.58 points, down 10.67 points or 0.66%. The losers were Wave Entertainment-19.23%, Mono Technology-14.20%, and Principal Capital-13.48%. The winners were TWZ+14.29%, Advance Connection+10.79%, and Wow Factor+8.81%.

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