The Tokyo Nikkei closed at a two-month high of 27,872.11, up 344.47, or 1.25%. The winners were Yamaha Motor Co Ltd+12.82%, Mitsui Chemicals, Inc. +10.29%, and Hitachi Zosen Corp.+9.07%. The losers were Chiyoda Corp -7.18%, NTT Data Corp -5.61%, and Konami Corp -1.92%.
Australia closed with gains for the third consecutive day: The S&P/ASX 200 closed at 6,958.90, up 25.20 or +0.36%, and the All Ordinaries closed at 7,150.10, up 20.90 or +0.29%, on the back of the recovery in global equity markets. Hopes that China will ease COVID-19 control measures and the U.S. Federal Reserve (Fed) will slow down interest rate hikes are incentives to buy risky assets. The gainers were Mineral Resources+4.95%, Pilbara Minerals Ltd+4.42%, and A2 Milk+3.99%. The loser was James Hardie Management-9.70%.
China’s Shanghai Composite closed down 13.32, or -0.43%, at 3,064.49 after COVID-19 cases reported in China were the highest since February. The Chinese authorities’ insistence on their zero-tolerance policy also disappointed investors who expected China to reopen soon. Gresgying Digital Energy Tech-10.04%, Tus Pharmaceutical-9.95%, and Zhejiang Dehong Autimotive-8.82% were the worst performers. Chase Science Co+20.02%, Beijing Sun Novo Pharmaceutical Research+15.16%, and Zhejiang Tailin+14.70% were the best performers.
The South Korean Composite (KOSPI) closed at 2,399.04, up 27.25 or +1.15%. The winners were InBioGen Co Ltd+29.96%, Nam Sung+22.87%, and Bumyang Construction+19.47%. The losers were Zinus-6.88%, Hyundai Mar&Fi-6.65%, and Mango Rope&We-5.29%.
In Thailand, the SET closed at 1,632.61 points, up 9.04 points or +0.56%. The winners were Jasmine Telecom Systems +14.74%, M Pictures Entertainment +14.56%, and TPB. Cough +11.70%. The losers were T.Krungthai Industrial-8.15%, Thaicom-7.32%, and Vanachai Group-7.20%.