Asian markets ended the week negatively, only the Hang Seng managed to shine

Tokyo’s Nikkei fell to a 1-month low of 27,527.12, down 524.58 or -1.87%, as investors feared a possible recession in the US and Europe after the U.S. Federal Reserve (Fed) and the European Central Bank (ECB) signaled they would continue to raise interest rates to curb inflation. The losers were Tokyo Electron-4.47%, Hitachi Zosen Corp.-4.05%, and CyberAgent Inc.-3.87%. Kawasaki Kisen Kaisha+2.58%, J.Front Retailing+0.87%, and Keio Corp.+0.80% were the winners.

In Australia, the S&P/ASX 200 closed at 7,148.70 points, down 56.10 points or -0.78%, and the All Ordinaries closed at 7,336.50 points, down 53.80 points or -0.73%, in line with Asian stock markets, which fell across the board after central banks in various countries raised interest rates. The losers were Silver Lake Resources-6.40%, Appen Ltd-4.94%, and Westgold Resources-4%. Resolute Mining+5.26%,, and Aurizon Holdings+4.03% were the winners.

The South Korean Composite (KOSPI) closed slightly lower at 2,360.02, down 0.95 points or -0.04%, as the won weakened against the dollar. The losers were Pang Rim Spinn-29.88%, Manho Rope&WIr-14.13%, and Hanchang-12.33%. The winners were Jeju Bank+25%, In The F+24.28%, and Stx Heavy Indu+21.18%.

China’s Shanghai Composite closed slightly weaker at 3,167.86 points, down 0.79 points or -0.03%, with the market moving in a narrow range and volatile throughout the day. Investors are concerned about the impact of COVID-19, which is still prevalent in China. At the same time, investors are waiting for the plan to boost the economy after the COVID-19 era. The worst performers were Bluedon Info Security Tech-14.02%, Ningbo GQY Video Telecom-13.39%, and Zhejiang FORE Inteligent-12.40%. The best performers were Hwaxin Environmental+21.01%, Fujiansunter Pharma+20%, and Hubei Biocause Healing Pharmaceutical+18.45%.

The Hang Seng in Hong Kong closed up 82.08 points, or +0.42%, at 19,450.67 as investors were optimistic after China lifted strict measures to combat the COVID-19 outbreak. The worst performers were Perennial Intl-21.52%, Prosperous Future Holdings-21.21%, and Pujiang International Group-17.39%. The best performers were Chyy Dev+110%, Steed Oriental+43.42%, and Fameglow+42.17%.

In Thailand, the market fluctuated in line with most other Asian stock markets, reacting to concerns about a recession in the United States. In addition, the U.S. Federal Reserve (Fed) and the European Central Bank (ECB) continued to raise interest rates, which put further pressure on the stock market. The SET closed at 1,619.01 points, down 1.27 points or -0.08%. The losers were S. Tark Corporation-9.48%, Siam Steel International-7.30%, and Fort-5.47%. The winners were Gratitude Infinite+20% and K.C.Property+7.75%.

Leave a Reply

Change Language
%d bloggers like this: