April 16, 2024

News and Political Commentary

Mixed Trends In Asian Markets As China Reopens After Holiday

2 min read

Mixed sentiment prevailed in stock markets in Asia, even as the Chinese stock markets reopened after the Lunar New Year holiday on a positive note. Monday’s holiday for the U.S. markets and anxiety ahead of the release of the FOMC Minutes due on Wednesday limited gains.

China’s Shanghai Composite Index surged 1.6 percent to finish trading at 2,910.54. The day’s trading ranged between 2,910.54 and 2,867.71. The Shenzhen Component Index also added 0.93 percent to close at 8,902.33.

The Japanese benchmark Nikkei 225 edged down 0.04 percent to close at 38,470.38. The day’s trading range was between 38,555.84 and 38,281.70.

Mitsui Engineering and Shipbuilding surged 12 percent. Aozora Bank, Obayashi Corp, Chiyoda Corp and Shimizu Corp, all rallied more than 5 percent.

Recruit Holdings, Konica Minolta and Advantest Corp, all declined more than 3 percent. Minebea Mitsumi and Ebara Corp, both slipped more than 2 percent.

The Hang Seng Index of the Hong Kong Stock Exchange shed 184 points or 1.13 percent from the previous close to finish trading at 16,155.61. The day’s trading range was between a high of 16,334.47 and a low of 16,137.98.

Korean Stock Exchange’s Kospi Index surged 1.2 percent to close trading at 2,680.26. The day’s trading range was between 2,653.12 and 2,683.39.

Australia’s S&P/ASX200 closed trading at 7,665.10, gaining 7 points or 0.09 percent. The day’s trading range was between 7,653.20 and 7,683.30.

Sayona Mining gained 16.4 percent. The A2 Milk Co also rallied 12.5 percent following release of half-yearly results. Liontown Resources that added 7.2 percent, Reliance Worldwide Corporation that gained 6.6 percent and Neuren Pharmaceuticals that added 4.9 percent were the other big gainers.

Lendlease Group plunged almost 14 percent after the results update. New Hope Corporation slipped 7.9 percent after publication of quarterly report. Mining business Orora also slipped 6.5 percent after half yearly results publication. Inghams Group and IDP Education,…

2024-02-19 05:17:27

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