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Asian stock markets closed mostly in the green – China plans to increase international traffic

The Hang Seng in Hong Kong ended at 15,317.67 points, up 152.08 points, or +1.00%, as investors believed weaker economic data would slow the Federal Reserve’s December rate hike. The gainers were Eternity Investment (+35%), Shanghai Realway (+32.57%), and Centenary United (+31.15%). The losers were Min Fu International Holding-50.63%, Hailan-43.47, and Wealth Glory-27.50%.

The South Korean Composite (KOSPI) rose 14.49 points or 0.65% to close at 2,249.56 points. The gainers were Sc Engineering+30%, Kyungdong Gas+27.22%, and Hancom Lifecare+17.56%. The losers were Kolon Corp-10.40%, Pan-Pacific-8.59%, and Dynamic Design-8.37%.

China’s Shanghai Composite closed at 2,999.50 points, up 23.22 points or +0.78%. The Chinese government plans to increase international air traffic starting this weekend. ArcherMind Tech Nanjing(+20.01%), Zhejiang Zhenguang Industrial(+20%), and Zhejing Cayi Vacuum Container Co(+20%) were the best performers. The worst performers were Xinqianglian-20%, Earth-Panda Advanced Magnetic Material -15.80%, and Ningbo Homelink EcoiTech-12.12%.

In Australia, the S&P/ASX 200 closed at 6,810.90, up 12.30 or +0.18%, and the All Ordinaries closed at 7,005.10, up 11.40 or +0.16%, in line with most other Asian equity markets. The gainers were Costa Group Holdings Ltd+10.76%, Westgold Resources+8%, and The losers were Codan-20.700%, Medibank Private Ltd-18.12%, and Whitehaven Coad-8.11%.

Tokyo’s Nikkei rose to a one-month high of 27,431.84, up 181.56 or 0.67%. The gainers were Denka+6.37%, T&D Holdings, Inc.+3.73%, and Rakuten Inc+3.38%. The losers were TNTN Corp.-3.80%, Mitsui O.S.K. Lines-3.22%, and Kawasaki Kisen Kaisha-3.01%.

In Thailand, the SET closed down 1,595.27, down 5.39 or 0.34%. The losers were Delta Electronics-10.21%, Team Consulting Engineering and Management -8.79%, and Charoen Industrial -9.84%. The gainers were JKN Global Media+15.79%, Wave Entertainment+13.64%, and Birla Carbon+6.96%.

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