Business News Asia
Asian stock markets closed mostly up on Friday
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%.
