Asian stock markets closed higher ahead of the release of the Fed minutes

The Nikkei in Tokyo closed higher at 28,115.74, +170.95 or 0.61%. The winners were Nippon Sheet Glass+9.64%, Mitsubishi Motors Corp.+3.89%, and JGC Corp.+3.49%. The losers were Konami Corp.-2.81%, Rakuten Inc.-2.28%, and Advantest Corp.-1.43%.

The Hang Seng in Hong Kong closed up 99.40 points or +0.57% at 17,523.81 as investors expected the Federal Reserve (Fed) to slow down rate hikes in the coming months. The best performers were Yida China+226.80%, Stream Ideas Gr+81.82%, and Raffles Interior+36.36%. The worst performers were Tianyun Intl-46.41%, Chainlink Intl-28.85%, and Elife Holdings-26.96%.

South Korean composite index (KOSPI) rose to 2,418.01 points, up 12.74 points or 0.53%. The winners were KidariStudio Inc+29.94%, Automobile &Pc+27.66%, and Central Motek+22.31%. The losers were Ihq-9.06%, Meritz Fire In-8.30%, and SK Bioscience Co-7.84%.

China’s Shanghai Composite closed slightly higher at 3,096.91, up 7.96 points or +0.26%, with the market still under pressure from concerns over the impact of COVID-19, which has spread strongly in China. The best performers were China Railway Prefabricated Construction (+19.97%), Jiangsu Tongling Electric (+14.74%), and Westown Electric (+14.48%). The worst performers were Essence Information Technology Co-19.98%, Amethstum Storage Technology Co-19.93%, and Guangzhou Haozhi Industrial-15.81%.

In Australia, the S&P/ASX 200 closed at 7,231.80 points, up 50.50 points or +0.70%, and the All Ordinaries closed at 7,422.40 points, up 46 points or +0.62%, as investors continued to buy energy and mining stocks following the rise in commodity prices. The winners were Nuix+7.25%, Whitehaven Coal+5.60%, and Qantas Airways+5.28%. The losers were Polynovo-8.85%, Wisetech Global-6.66%, and Star Entertainment-5.56%.

The SET in Thailand closed at 1,624.40 points, up 9.07 points or +0.56%. The winners were T. Krungthai Industries +28.96%, Tong Hua Holding +25.23%, and T-Precision+15.52%. The losers were PP Prime-7.69%, Wave Entertainment-7.14%, and Samart Digital-5.88%.

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