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Asian stock markets closed mostly up – Investors await Fed meeting outcome and positive news on China’s COVID policy

Asian stock markets closed in positive territory, while investors postponed trading to await the results of the Federal Reserve (Fed) meeting, which will be announced tonight. Chinese authorities are preparing for a gradual opening of the country, having taken strict measures to control COVID-19 in the past. As a result, stock markets in China and Hong Kong closed higher for two consecutive days.

—– The Nikkei in Tokyo closed down 15.53 or -0.06% at 27,663.39 points. The losers were Kao Corp.-8.71%, CyberAgent Inc-8.49%, and Sumitomo Chermical-5.26%. The best performers were Panasonic+9.76%, Nichirei Corp.+8.90%, and Subaru Corp+7.04%.

—– In Australia, the S&P/ASX 200 closed at 6,986.70, up 9.80 or +0.14%, and the All Ordinaries closed at 7,177.80, up 8.20 or +0.11%. The top gainers were Perpetual+5.53% and Ramelius Resources+5.16. %, and Whitehaven Coal+4.15%. Losers were Domino’S Pizza Enterprises-5.33%, Cromwell Property-4.83%, and Reliance Worldwide-4.60%.

—– China’s Shanghai Composite closed with gains for the second consecutive day at 3,003.37 points, up 34.17 points or +1.15%. The top gainers were AVIT (+20.07%), Guangzhou Frontop Digital Creative (+20%), and Shenzhen iN Cube Automation (+20%). Chongqing Pharscin Pharma-9.98%, Jiangsu Dagang A-9.87%, and Shanghai Junshi Biosciences Co-9.61% were the worst performers.

—– South Korean Composite (KOSPI) moved in a narrow range at 2,336.87 points, up 1.65 points or 0.07%. The best performers were KakaoBank+17.05%, Kumyang+10.21%, and Korea Petroleum Ind+9.95%. The losers were Korea Electronic Power Industrial Development-11.90%, Chonbang-10.26%, and Dynamic Design-9.84%.

—– The Hang Seng in Hong Kong closed the second day up 371.90, or +2.41%, at 15,827.17, with Wealth Glory (+115.96%), Cansino Biologics (+53.38%), and CNQC Int (+36%) the best performers. The worst performers were Hong Kong ChaoShang Group Ltd-26.92%, Green Energy-25.24%, and Astrum Financial-24.39%.

—– In Thailand, the SET closed down 0.71, or 0.04, at 1625.02 points. The losers were K.C. Property-15.38%, Rojukis International-13.57%, and Global Consume. Mercury-7.59%. The winners were Wave Entertainment+25%, Triton Holding+15.79%, and NFC+13.46%.

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