Business News Asia
Hong Kong’s Hang Seng closed down 85.01 points, or -0.49%, at 17,165.87, after rising more than 200 points in the morning. Investors remain concerned that the U.S. Federal Reserve (Fed) and other central banks will raise interest rates to curb inflation. The worst performers were Jiyi Household International Holdin(-80.53%), Unity Enterprise Holdings(-78.63%), and Chi Ho Development(-57.39%). The best performers were Mingfa Group Int+41.07%, Global Mastermind+26.83%, and Ling Yui Holdings+26.58%.
China’s Shanghai Composite closed slightly lower at 3,041.20 points, down 3.86 points or -0.13%, as investors slowed stock trading in anticipation of tomorrow’s release of key Chinese economic data. The worst performers were HONG RI DA Technology (-21.57%), Hengxin Mobile Business (-12.55%), and Shenzhen Edadoc Technology (-11.59%). The best performers were Chengdu Cushui Science and+15.80%, Edan Instruments Inc+13.40%, and Shanghai Aohua Photoelectricity Endos.+12.21%.
In Australia, the S&P/ASX 200 closed at 6,555.00, up 93.00 or +1.44%, and the All Ordinaries closed at 6,760.60, up 100.80 or +1.51%. The gainers were Premier Investments+14.61%, Westgold Resources+6.04%, and Ramelius Resources+5.43%. The losers were Iress-17.30%, Mesoblast-4.82%, and Nuix-4.17%.
Tokyo Nikkei closed at 26,422.05 points, up 248.07 points, or 0.95%, following the Bank of England’s (BoE) announcement to buy unlimited amounts of long-term UK government bonds to stabilize financial markets. The winners were Eisai (+13.56%), Yamaha Corp (+6.24%), and Rakuten Inc (+6.09%). The losers were Nippon Yusen K.K-15.82%, Mitsui O.S.K. Lines-13.02%, and Kawaski Kisen Kaisha-6.74%.
South Korean composite index (KOSPI) closed almost unchanged at 2,170.93, up 1.64 points or 0.08%. The gainers were Hacom Lifecare+18.81%, Kumho HT Inc+17.45%, and Nam Sung+14.04%. The losers were Able C&C-11.97%, Jayjun Co-11%, and STX-7.16%.
In Thailand, the SET closed down 1,596.50, down 5.47 or 0.34%. The losers were Wave Entertainment -8.70%, Buriram Sugar -8.29%, and Prime Road Power Public Company Limited -8.84%. The gainers were AI Energy+24.86%, Asian Insulators+11.02%, and Big Camera+8.96%.