Asian stock markets close higher at the end of the week

The Hang Seng in Hong Kong closed up 450.64 points, or 2.32%, at 19,900.87 points after Hong Kong announced the easing of COVID-19 control measures by shortening the day of quarantine and infection testing. The best performers were Ronshine China (+70.73%), Lajin Entertainment (+67.78%), and Yincheng International Holding (+66.67%). The worst performers were Swang Chai Chuan-36.84%, Universal Tech-30.64%, and Okura Holdings-25%.

China’s Shanghai Composite closed up 9.60 points or +0.30% at 3,206.95 points after Chinese Premier Li Keqiang expressed confidence that the Chinese economy would continue to recover. The best performers were Jiangsu Skyray Instrument Co(+20.04%), Sichuan Dowell Science Tech(+20.01%), and Innovita Biological Tech(+20%). The worst performers were Beijing Vantone-10.03%, Annil-10.02%, and Shenzhen Infinova Ltd-10%.

The South Korean Composite (KOSPI) closed at 2,389.04 points, up 17.96 points, or +0.76%, after closing in negative territory for five consecutive days as foreign and institutional investors bought cheap stocks, following sell-offs in recent days. The best performers were KidariStudio Inc+16.25%, Yungjin Pharm+10.95%, and Cosmax Inc+10.71%. The worst performers were SKC-7.01%, Samsung SDI-6.93%, and LG Chemicals-6.42%.

In Australia, the S&P/ASX 200 closed at 7,213.20 points, up 37.70 points or +0.53%, and the All Ordinaries closed at 7,406.30 points, up 36.90 points or +0.50%, in response to news that China, Australia’s main trading partner, will ease measures to control COVID-19. This gives investors hope that economic activity and demand will pick up. The best performers were Clinuvel Pharmaceuticals (+5.94%), Champion Iron Ltd (+5.15%), and Resolute Mining (+4.75%). The worst performers were Downer Edi-3.14%, Alumina-1.83%, and Macquarie-1.02%.

The Nikkei in Tokyo closed higher at 27,901.01, up 326.58 points or +1.18%. The winners were Advantest Corp. +5.78%, Tokyo Electric Power Co. Inc. +5.52%, and Furukawa Electric +5.23%. The losers were Sekisui House-2.99%, Inpex Corp.-1.45%, and Suzuki Motor Corp.-1.21%.

In Thailand, the SET closed in positive territory with a gain of 2.64 points, or 0.16%, at 1,623.13 points. The winners were Waropakorn +12.43%, Tropical Canning +8.62%, and Thai-German Products +8.33%. The losers were Nation Group-13.33%, Team Precision-12.43%, and Thaicom-7.41%.

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