Asian stocks ended Thursday’s trading on a mixed note, with the benchmark indexes in Tokyo, Hong Kong, Seoul and Wellington closing in the red. While China’s Shanghai Composite Index gained moderately, the S&P ASX 200 Index in Sydney closed almost flat.
The mood was sober as U.S. stock futures traded lower as traders waited for closely watched data on inflation, growth and jobs.
China’s Shanghai Composite Index touched a three-month high and closed at 3,608.85, a gain of 0.4 percent in today’s trading, amidst a rising yuan, general dollar weakness and an improving sentiment in Sino-U.S. relations.
Japan’s benchmark Nikkei 225 Index shed 0.3 percent to close at 28,549.01 amidst continuing worries about coronavirus cases and the extension of restrictions. Japan Steel Works and Ana Holdings both gained more than 3 percent. Japan Exchange Group as well as Fujitsu lost more than 2 percent.
Hong Kong’s Hang Seng Index lost 0.2 percent in the day’s trading and settled at 29,113.20. The day’s trading range was tight between 28,989 and 29,199.
Risk taking remained muted on the Korean stock market amid anxieties regarding fresh coronavirus cases and the benchmark Kospi ended at 3,165.51, a loss of 0.1 percent.
The Australian benchmark S&P ASX 200 Index closed nearly flat today at 7,094.90 by adding just 0.03 percent to its previous close. Mining company Galaxy Resources was the lead gainer with a rally of 8.68 percent. Financial services company AMP added 8.45 percent to yesterday’s levels.
Horticulture company Costa group was heavily beaten down and suffered a 24.1 percent drop in a single day following disappointing 2021 earnings guidance. Sigma Healthcare suffered a 6.2 percent decline.
New Zealand’s benchmark NZX 50 Index closed 0.8 percent lower to end at 12,243.34. Transport company Mainfreight bucked the weak trend and gained 4 percent, while Fonterra Shareholders Fund rallied by 3.4 percent.
Healthcare devices maker Fisher Paykel Healthcare declined by 5.4 percent despite upbeat results. Rest home operator Ryman Healthcare trailed yesterday’s levels by 5 percent.
Yesterday, the U.S. stock markets remained subdued amidst lingering fears about inflation and Fed tapering, even as most Fed officials continued assurances of an accommodative stance.
The NASDAQ 100 moved up by 0.3 percent to close at 13,702.74 while the Dow Jones Industrial Average remained close to the flat-line to finish trade at 34,323.05, a minor movement of 0.03 percent.
Fed-speak Fails To Move Asian Stocks
2021-05-27 09:18:57
