Business News Asia
The Nikkei index in Tokyo ended with gains for the second consecutive day at 25,973.85 points, up 153.05 points or +0.59%, as export stocks were under buying pressure after the weakening of the yen. The winners were Kawasaki Kisen Kaisha+4.40%, Taiyo Yuden+4.36%, and Sumitomo Metal Mining+3.60%. The losers were CyberAgent Inc-2.61%, Mitsubishi Estate-2.16%, and Tokio Marine Holdings, Inc.-2.00%.
In Australia, the S&P/ASX 200 closed at 7,109.60, up 46.00, or +0.65%, and the All Ordinaries closed at 7,308.80, up 49.50, or +0.68%, driven by a surge in commodity stocks following news that China has taken action to stimulate the property sector, a factor supporting iron ore and oil prices. The winners were included Mineral Resources (+6.94%), Pilbara Minerals Ltd (+6.45%), and Perseus Mining (+4.95%). The losers were Magellan Financial Group-10.52%, Pointsbet Holdings-4.33%, and Region Re Unt-3.77%.
The South Korean Composite (KOSPI) closed up 25.32 points, or +1.12%, at 2,289.97, closing higher for the third consecutive day as foreign and institutional investors bought Samsung shares and other large-cap stocks. The won strengthened against the U.S. dollar. Bo Lak+24.54%, Woojin I&S+17.68%, and Han Kook Steel+14.72% were the winners. The losers were Hanmiglobal-8.38%, FF Co-7.01%, and Kumho Ind-6.74%.
China’s Shanghai Composite closed up 2.42 points, or +0.08%, at 3,157.64 points, supported by hopes that the Chinese economy will soon recover from COVID-19. The Chinese government enacted measures to stimulate the real estate market. The best performers were Suzhou YourBest Newtype Materials (+20%), Shenzhen Absen Optoelectronic (+16.91%), and Shanghai HIUV New Materials Co (+15.84%). The worst performers were GI Technologies Beijing-16%, Sante Cableway A-10.02%, and Sz Textile A-10.01%.
The Hang Seng in Hong Kong closed at 20,991.64, down 60.53, or -0.29%, as investors delayed trading ahead of the release of U.S. December jobs data. The worst performers were Suoxinda (-68.64%), Bison Finance (-27.78%), and Keen Ocean Intl (-24.29%). The best performers were International Standard Resources+170.41%, Aurum Pacific China+58.06%, and Differ Holding Co+55.84%.
In Thailand, the SET closed at 1,673.86 points, up +10.00 points or 0.60%. The winners were Hana Microelectronics +14.22%, Srinanaporn Marketing +10.50%, and Nation Group. +9.09%. The losers were JKN Global Media-13.12%, Samart Digital-12.50%, and Tonghua Holdings-9.02%.