Asian Stocks Rally On Hopes Of Easing In China's Covid Curbs

RTTNews | 1026天前

(RTTNews) - Asian stocks finished mostly higher on Friday fed by hopes that the Chinese government would ease its Covid curbs and also reverse its Zero Covid strategy. Hang Seng led the gains with a more than 5 percent surge. Japanese benchmarks however dropped as Thursday's market holiday delayed the Fed-fueled decline.

China's Shanghai Composite Index rallied 73 points or 2.43 percent to finish at 3,070.80. The day's trading ranged between 2997.00 and 3,081.59. The Shenzhen Component Index added 347 points or 3.20 percent to close at 11,187.43.

The Japanese benchmark Nikkei 225 erased 464 points or 1.68 percent to end trading at 27,199.74. The day's trading range was between 27,032.02 and 27,389.30.

Mitsubishi Motors Corp was the biggest gainer with an 18 percent uptick. Konica Minolta added 8.9 percent. Mitsubishi Heavy Industries and Sumitomo Corp gained more than 4 percent.

Z Holdings Corp declined 14 percent. AGC dropped 9.3 percent, closely followed by Nippon Suisan Kaisha which dropped 8.6 percent. Nippon Sheet Glass Co and Yamaha Corp lost more than 5 percent each.

The Hang Seng Index of the Hong Kong Stock Exchange surged 822 points or 5.36 percent from the previous close to finish trading at 16,161.14. The day's trading range was between a high of 16,510.58 and a low of 15,339.49.

Korean Stock Exchange's Kospi Index added 19 points or 0.83 percent to close trading at 2,348.43. The day's trading range was between 2,316.29 and 2,348.43.

Australia's S&P/ASX200 closed trading at 6,892.50 after adding 35 points or 0.50 percent. The day's trading was between 6,829.60 and 6,895.00.

Global fintech company Block added 10.9 percent in the day's trade following upbeat third quarter results. Mining businesses were the big gainers amidst former commodity prices. Coronado Global Resources added 8.6 percent. Allkem, Whitehaven Coal as well as New Hope Corporation, all gained close to 6 percent.

Gold miner Ramelius Resources declined 5.6 percent. Packaged foods business Blackmores shed 3.7 percent whereas financial services business Hub24 lost 3.3 percent. Packaging business Orora and healthcare business Pro Medicus also dropped more than 2 percent.

The NZX 50 of the New Zealand Stock Exchange added 46 points or 0.41 percent to close at 11,230.75. Trading ranged between 11,129.62 and 11,251.27.

Oceania Healthcare that owns and operates retirement villages and care facilities for the elderly is the top gainer with a 2.5 percent overnight rally, closely followed by telecommunications business Spark New Zealand which added 2.2 percent. Logistics businesses Mainfreight as well as Freightways have gained more than 1 percent. Restaurant Brands New Zealand also added more than a percent.

Electronic components maker EROAD plunged close to 4 percent. Property For Industry Limited, a REIT declined more than 2 percent. Real estate businesses Investore Property as well as Stride Property and Genesis Energy, a midstream oil and gas business have all lost more than 1 percent in the day's trading.

The Wall Street had also closed with losses on Thursday as the Fed dashed hopes of an immediate policy pivot. Nasdaq Composite shed 1.73 percent to close at 10,342.94 whereas the Dow Jones Industrial Average lost 0.46 percent to finish trading at 32,001.25.

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | 17分鐘前

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

RTTNews | 23分鐘前

Hong Kong Shares Expected To Open To The Upside

The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.

RTTNews | 32分鐘前

Higher Open Called For China Stock Market

The China stock market on Tuesday halted the four-day winning streak in which it had rallied almost 160 points or 4.4 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau although it may move back to the upside again on Wednesday.

RTTNews | 47分鐘前

Win Streak May Continue For Taiwan Stock Market

The Taiwan stock market has tracked higher in back-to-back sessions, gathering almost 540 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just above the 24,300-point plateau and it may add to its winnings again on Wednesday.

RTTNews | 1小時17分鐘前

Singapore Stock Market Expected To Open In The Green

The Singapore stock market on Tuesday snapped the five-day winning streak in which it had climbed almost 70 points or 1.6 percent. The Straits Times Index now sits just above the 4,240-point plateau although it may move back above water on Wednesday.

RTTNews | 1小時47分鐘前

Malaysia Stock Market Expected To Open To The Upside On Wednesday

The Malaysia stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,580-point plateau although it's likely to rebound on Wednesday.

RTTNews | 2小時17分鐘前

Japan Stock Market May See Renewed Support

The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead. The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers. For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27. Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.

RTTNews | 2小時32分鐘前

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