Asian Stocks End Trading On A Negative Note

RTTNews | 1042 gün önce

(RTTNews) - Asian markets traded lower on Thursday, reflecting the pain at the Fed's unexpected hawkish stance and tracking the Wall Street's movements a day earlier. Though the interest rate hike of 50 basis points was on expected lines, the higher peak of 5.1 percent for the federal funds rate dampened investor sentiment. Disappointing industrial production and retail sales numbers from China on Wednesday also added to the negative sentiment.

China's Shanghai Composite Index dropped 8 points or 0.25 percent to finish at 3,168.65. The day's trading ranged between 3,179.10 and 3,158.45. The Shenzhen Component Index however gained 36 points or 0.32 percent to close at 11,358.11.

The Japanese benchmark Nikkei 225 shed 105 points or 0.37 percent to end trading at 28,051.70. The day's trading range was between 27,987.54 and 28,163.17.

Kawasaki Heavy Industries led the gains with a 5 percent uptick. Mitsubishi Heavy Industries followed closely with gains of 4.1 percent, Hitachi Zosen Corp, IHI Corp and Fujikura, all rallied more than 3 percent.

Shiseido Co and Chugai Pharmaceutical Co, both declined more than 2 percent. Nisshin Seifun Group, Kikkoman Corp and SompoHoldings, all declined more than 1 percent.

The Hang Seng Index of the Hong Kong Stock Exchange shed 305 points or 1.55 percent from the previous close to finish trading at 19,368.59. The day's trading range was between a high of 19,675.68 and a low of 19,233.86.

Korean Stock Exchange's Kospi Index shed 38 points or 1.6 percent to close trading at 2,360.97. The day's trading range was between 2,360.95 and 2,392.11.

Australia's S&P/ASX200 closed trading at 7,204.80 after losing 47 points or 0.64 percent. The day's trading was between 7,202.60 and 7,251.30.

Packaged food business Blackmores is the biggest gainer with a surge of more than 7 percent. Energy business New Hope Corporation added close to 5 percent. Thermal coal business Whitehaven Coal and beverage business Endeavour Group, both added more than 3 percent.

Pilbara Minerals declined more than 11 percent. Core Lithium dropped more than 9 percent. Liontown Resources shed close to 8 percent. Sayona Mining and Megaport Limited, both declined more than 6 percent overnight.

The NZX 50 of the New Zealand Stock Exchange added 17 points or 0.15 percent to close at 11,601.99. Trading ranged between 11,508.16 and 11,620.07. Data showing New Zealand's economy expanded 2 percent in the third quarter, versus estimates of a 0.9 percent growth helped shore up sentiment.

Fisher & Paykel Healthcare and Mercury NZ, both gained more than 3 percent. Medical distribution business EBOS Group, Heartland Group and NZX, all advanced more than 1 percent from Wednesday's levels.

Vista Group International declined more than 5 percent. Dairy business Synlait Milk, electronic components maker EROAD and medical care facilities business Ryman Healthcare declined more than 3 percent.

The hawkish Fed commentary had dragged the Wall Street lower on Wednesday, with the Nasdaq Composite shedding 0.76 percent to close at 11,170.89 and the Dow Jones Industrial Average dropping 0.42 percent to finish trading at 33,966.35.

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