Asian stock markets showed a mixed trend as investors kept a close eye on the Federal Reserve’s meeting scheduled for Tuesday, Jan. 31.
In Tokyo, the Nikkei closed higher at a six-week high of 27,433.40, boosted by expectations that the Federal Reserve will slow down interest rate hikes. The best performers were Yamato Holdings+6.47%, Shin-Btsu Chemical+5.08%, and Fanuc Corp.+3.58%. The worst performers were Dentsu Inc.-2.91%, Hitachi Construction Machinery Co-2.55%, and Mitsubishi Motors Corp.-2.38. %.
The South Korean Composite Index (KOSPI) closed down, pressured by falling technology stocks ahead of the Federal Reserve meeting and the release of South Korea’s export data. The best performers were Mirae ING+30%, Ktcs+29.86%, and Ktis+21.58%. The worst performers were Jb Financial-8.85%, Jeju Bank-8.21%, and Sam-A Aluminiu-8.04%.
In Australia, the S&P/ASX 200 and All Ordinaries closed lower, with insurance stocks leading the market after reports of an increase in claims from the oil flood in Auckland, New Zealand. The worst performers were Champion Iron Ltd-7.10%, Resmed DRC-6.81%, and Insurance Australia Group-3.74%. The best performers were Lynas Rare Earths+6.94%, St Barbara+6.12%, and Wisetech Global+5.23%.
Meanwhile, the Shanghai Composite ended higher in response to China’s preparations to issue measures to revive consumption. The best performers were GI Technologies Beijing+20.69%, Beijing TRS Information Tech+20.03%, and Beijing Haitian Ruisheng Science Techn.+20%. The worst performers were Beijing Enlight Media-9.24%, Guangzhou Jinyi Media-8.74%, and Montage Technology-7.44%.
Hong Kong’s Hang Seng closed lower due to profit taking after strong gains this month. The worst performers were China Internet Investment Finance-29%, Chongqing Hongjiu Fruit-26.67%, and Kaisa Capital Investment Holdings-22.88%. The best performers were Nimble+92.59%, Chia Tai Enterprises Intl+68.35%, and Perfect Optronics Ltd+61.90%.
In Thailand, the SET closed up with Stonehenge Inter leading the gains at +14.58%. The losers were Thai Sethakit Insurance-3.33%, Thai Sugar Terminal-4.46%, and NR Instant. Produce-3.20%. The best performers were Stonehenge Inter+14.58%, TORC Construction+13.95%, and Prime Road Power Plc+12.32%.