Business News Asia
Tokyo’s Nikkei closed up 65.47 points, or +0.24%, at 27,885.87 as export stocks benefited from the yen’s depreciation against the U.S. dollar. The winners were NTN Corp +4.44%, Mitsubishi Motors Corp +3.31%, and Mazda Motor+3.23%. The losers were CyberAgent Inc.-4.14%, Eisai-3.25%, and Softbank Group Corp.-2.49%.
In Australia, the S&P/ASX 200 closed at 7,291.30, down 34.30 or -0.47%, and the All Ordinaries closed at 7,487.70, down 40.10 or -0.53%, after the Reserve Bank of Australia (RBA) announced another rate hike at its meeting today. The losers were Mesoblast-9.61%, Appen Ltd-9.18%, and St Barbara-8.76%. Clinuvel Pharmaceuticals+3.12%, Whitehaven Coal+2.72%, and Fletcher Building+2.58% were the winners.
The South Korean composite index (KOSPI) closed down for the third consecutive day, dropping 26.16 points, or -1.08%, at 2,393.16 as investors remained concerned that the U.S. Federal Reserve (Fed) may further tighten its monetary policy measures after the U.S. services sector index rose more than expected in November. As for the currency, the won depreciated against the U.S. dollar. The losers were Dynamic Design-10.32%, Pyung Hwa Hldg-9.01%, and Development Advance Solution-8.71%. The winners were Kumbi+22.14%, Han Kook Steel+8.27%, and E-Mart+7.14%.
China’s Shanghai Composite closed up 0.72 points, or +0.02%, at 3,212.53 points after China announced that it would relax COVID-19 containment measures in many major cities and the number of COVID-19 cases continued to decline. This gives investors hope that China may end its zero-covid policy soon. Beijing Tensyn Digital Marketing+19.91%, YaGuang Technology+14.38%, and Longmaster Information Tech+14.37% were the best performers. The worst performers were Zhejiang Tailin-14.23%, Misho Ecology Landscape-11.25%, and Trina Solar. Co-11.04%.
The Hang Seng in Hong Kong closed at 19,441.18 points, down 77.11 points or -0.40%. The worst performers were Jolimark-30%, New Focus Auto Tech-27.54%, and China Properties Investmeng-22%. The best performers were Hong Kong Aerospace Technology+62.96%, Unity Holdings International+54.76%, and Macau Legend Development+53.23%.
In Thailand, the SET closed at 1,632.97 points, down 8.66 points or -0.53%. The losers were Nation Group-41.94%, Tropical Canning-12.41%, and PP Prime-7.69%. The winners were Team Precision+13.07%, Aurora Design PCL+6.71%, and Union Plastic+6.64%.