Business News Asia
Tokyo’s Nikkei closed down 155.68, or -0.56%, at 27,716.43 points after posting its biggest gain in a month yesterday (Nov. 8), while most traders postponed trading in anticipation of the results of the U.S. midterm elections. The losers were GS Yuasa Corp -7.42%, Unitika-6.05% and Dakin Industries-5.17%. The winners were Kuraray+8.32%, Kawasaki Kisen Kaisha+6.89% and Furukawa Elsen Kaisha+6.89%.
The S&P/ASX 200 closed at 6,999.30, up 40.40, or +0.58%, and the All Ordinaries closed at 7,187.40, up 37.30, or +0.52%, driven by gold and mining stocks after iron ore prices rebounded on hopes of an easing of China’s Covid 19 measures. The winners were St Barbara (+13%), Regis Resources (+12.66%), and Westgold Resources (+10.83%). The losers were News Corp B DRC-11.15%, Whitehaven Coal-8.50%, and CSR-5.36%.
China’s Shanghai Composite closed down 16.33, or -0.53%, at 3,048.17 points. China’s Producer Price Index (PPI) fell for the first time in almost a year, while the Consumer Price Index (CPI) slowed due to the COVID-19 lockdown measures. The worst performers were Huan Nucien Pharmaceutical Co-10.20%, Shaanxi Meineng Clean Energy-10%, and Beijing Jingyeda-10%. The best performers were Staidson Beijing Biopharma+20.02%, Fujiansunter Pharma+17.40%, and Jiangsu GDK Biotechnology+16.61%.
The South Korean Composite (KOSPI) rose for the fourth consecutive day to 2,424.41, up 25.37 or +1.06% as most investors held back trading in anticipation of the U.S. midterm election results. The winners were InBioGen Co Ltd+29.59%, Kumyang+24.92%, and YoungPoong+20.92%. The losers were Seong An-10.23%, Dynamic Design-6.73%, and DoubleU Games-5.45%.
The Hang Seng Index in Hong Kong closed down 198.79, or -1.20%, at 16,358.52 points. The worst performers were Pujiand International Group-81.68%, Ganglong China-42.07%, and DaFa Properties Group-38.89%. The best performers were Mongolia Energy+44.19%, Foxconn Interconnect+33.33%, and Wai Chun+30.30%.
In Thailand, the SET closed at 1,622.45 points, down 10.16 points or -0.62%. The losers were Sussexmore-14.71%, Jasmine Telecom Systems-11.93%, and Sri Trang Gloves-11.30. %. The winners were Thai Nippon Rubber Industry +29.23%, Charing Thai Wire and Cable+12.61%, and Castle Peak Holdings+10.42%.