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Asian stocks closed mostly higher ahead of Federal Reserve Meeting

Hong Kong’s Hang Seng closed up 132.57 points or 0.68% at 19,596.20 after Hong Kong announced the easing of COVID-19 control measures. The best performers were Nexion Techn(+204.35%), Scholar Education Group(+84.62%), and Fusen Pharmaceutical(+52.67%). The worst performers were Cornerstone Technologies Holdings-35.19%, K2 F&B HOLDINGS-24.47%, and Goldway Education-20.31%.

China’s Shanghai Composite closed down 2.72 points, or -0.085%, at 3,176.33 points as investors remained concerned about the spread of COVID-19 in Chinese cities, including Beijing. Zhrjiang Yuancheng Landscape-10.02%, Zhejiang Guanghua Technology-10.01%, and Zhejiang Weigang Tech-9.99% were the worst performers. The best performers were WEcome(+20.01%), Tibet Duo Rui Pharmaceutical(+20.01%), and Shanxi Zhendong Pharmaceutical(+20%).

Tokyo Nikkei closed at 27,954.85 points, up 112.52 points, or 0.40%, in line with the Dow Jones Industrial Average, which closed higher yesterday. The winners were JGC Corp.+3.24%, Chiyoda Corp.+3.04%, and Fujifilm Holdings Corp.+2.76%. The losers were Yokohama Rubber-3.06%, Unitika-2.37%, and DOWA Holdings-1.37%.

In Australia, the S&P/ASX 200 closed up 22.50 points, or +0.31%, at 7,203.30 points, driven by buying in banking stocks. The winners were Bendigo & Adelaide Bank+6.86%, Megaport Ltd+5.95%, and Challenger+4.64%. The losers were Zip-10.49%, Resolute Mining-7.14%, and Champion Iron Ltd-4.56%.

The KOSPI in Korea closed almost unchanged at 2,372.40 points, down 0.62 points or -0.03%, as investors remained cautious ahead of today’s Federal Reserve (Fed) monetary policy meeting. As for the currency, the won appreciated sharply against the US dollar. The winners were Kyongbo Pharmaceutical Co Ltd+29.97%, Bo Lak+24.50%, and Myungmoon Phar+15.94%. The losers were NCsoft Corp-8.01%, Jeju Bank-7.98%, and KidariStudio Inc-7%.

In Thailand, the SET closed at 1,624.33 points, up +1.20 points or 0.07%. The winners were Team Precision +22.97%, Thikha Construction +7.80%, and Britannia +7.92%. The losers were Chukai-7.38%, PP Prime-7.69%, and Juthanavee-7.58%.

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