Business News Asia
In Australia, the S&P/ASX 200 closed at 7,135.70, up 13.50 points or +0.19%, and the All Ordinaries closed at 7,339.00, up 11.60 points or +0.16%. The winners were Pendal+10.54%, Webjet+10.14% and Fisher&Paykel Healthcare+3.89%. The losers were Perpetual-12.63%, Whitehaven Coal-6.31% and South32-5.21%.
Tokyo’s Nikkei closed down 97.73 points, or -0.35%, at 27,930.57 as selling pressure on technology stocks weighed on the market. Investors bought stocks related to tourism in the country after the release of information indicating that the number of foreign tourists in Japan rose sharply in October from a year earlier. The losers were Sumitomo Metal Mining-5.44%, Advantest Corp.-3.14%, and Tokyo Electron-2.95%. The winners were Isetan Mitsukoshi Holdings+5.55%, JGC Corp.+4.85%, and Takasimaya+4.32%.
China’s Shanghai Composite closed down 4.55 points, or -0.15%, at 3,115.43 as investors worried that the number of COVID-19 infections in China may prompt the government to impose additional lockdown measures. A slowdown in Asian stock markets also weighed on trading sentiment in China’s equity markets. The worst performers were Shan XI Hua Yang New Energy-8.27%, Shanghai Shenqi Pharm B-8.36%, and Smartgen Zhengzhou Technology-7.79%. The best performers were Beijing Infosec Technologies Co(+19.99%), Huan Dajiaweikang Pharmaceutical I.(+19.98%), and Jiangsu Apon Medical(+14.25%).
Hong Kong’s Hang Seng closed at 18,045.66, down 210.82, or -1.15%, on reports that Tencent cut its stake in Meituan by more than 90%. The worst performers were Hephaestus Holdings-24.53%, Wines Link-23.26%, and Add New Energy Investment-22.73%. The best performers were Digital Hollywood (+54.39%), New City Development (+31.58%), and Solomon Worldwide Holdings (+27.27%).
South Korea’s Composite Index (KOSPI) closed down 34.55 points, or -1.39%, at 2,442.90 for the second day in a row as major technology stocks tanked. The South Korean won depreciated against the US dollar amid concerns about the global economic slowdown. The worst performers were Kolon Globalco-15.33%, In The F-11.88%, and Hanmiglobal-11.79%. The best performers were Kc Cottrell+29.98%, Busan Ind+29.97%, and Aluko+25.34%.
In Thailand, the SET closed at 1,614.21 points, down 5.30 points or 0.32%. The losers were AQ Estate-33.33%, Tonghua Holding-9.04%, and SVI-7.65%. The winners were Food and Drinks+10.71%, Wattanapat Hospital Trang+10.06%, and NFC+8.20%.