Business News Asia
Asian stock markets ended the day mixed as investors await the release of earnings reports from US companies.
In Japan, the Nikkei ended a four-day gain at 27,395.01, up 95.82 points, or +0.35%, supported by steelmakers and other cyclical stocks. The best performers were Dai Nippon Printing+14.81%, Suzuki Motor Corp.+5.62%, and Toppan Printing+4.57%. The worst performers were Advantest Corp.-1.11%, Itochu Corp.-1.00%, and SKY Perfect JSAT Holdings Inc.-0.99%.
In Australia, the S&P/ASX 200 closed down at 7,468.30 points, down 22.10 points or -0.30%, and the All Ordinaries closed at 7,688.00 points, down 22.50 points or -0.29% after reports that Australia’s inflation rose more than expected. This could be a factor pushing the Reserve Bank of Australia to move forward with raising interest rates. The worst performers were St Barbara-21.35%, Zip-6.38%, and Nuix-5.91%. The best performers were News Corp B DRC+6.25%, Monadelphous+5.38%, IPH+4.16%.
In South Korea, the Composite Index (KOSPI) rose to 2,428.57 points, up 33.31 points or 1.39%, supported by buying in technology stocks. Investors hope that the US Federal Reserve (Fed) will slow down the interest rate hike. The best performers were Sunny Elec.+27.02%, Jeju Bank+21.09%, and Camus Engineering & Construction+12.63%. The worst performers were Han Kook Steel-11.07%, IIjeong Ind-8.07%, and Dongkuk Steel Mill Co-4.45%.
The Chinese and Hong Kong stock markets were closed today on the occasion of Chinese New Year.
In Thailand, The SET closed down at 1,682.11 points, down -0.83 points or -0.05%. The worst performers were R&B Food Supply-7.30%, Dcon Products-6.67%, and Patgal-6.52%. The best performers were Stonehenge Inter+18.49%, Sky ICT+8.51%, and PP Prime+7.69%.