Home Tags Posts tagged with "asian market"

asian market

China stock market was the lone winner in Asia on September 21 as the rest of the region headed lower on lingering worries about weaker global growth.

The Shanghai Composite ended up 1.9% to 3,156.54 despite the Federal Reserve’s decision to hold off raising interest rates last week, in part due to a slowing Chinese economy.

Chinese shares in small-cap companies rebounded strongly, making up for recent losses.China stock market trades higher

Meanwhile Hong Kong’s Hang Seng index closed down 0.8% to 21,756.93 points.

Trading was also lighter than usual with the region’s biggest market, Japan, closed until September 23 for public holidays.

In the meantime, investors are looking ahead to flash manufacturing activity readings from China and the euro zone on Wednesday for an indication on where the global economy is heading.

In Australia, the benchmark S&P/ASX 200 index closed down 2% to 5,066.2 – leading the region’s losses.

South Korea’s Kospi finished down 1.6% to 1,964.68 after hitting a five and a half week high in the previous session.

The benchmark index also ended a four-day winning streak.

China stock market led gains across Asia on September 16, with the Shanghai Composite closing up 4.89% at 3,152.26.

The index recovered much of the ground it lost on September 15 when the mainland benchmark index lost 3.5%.

In Hong Kong, the benchmark Hang Seng index also ended the day higher, up 2.38% at 21,966.66.

Investors shrugged off news that shares in China’s largest brokerage, Citic Securities, had fallen as much as 4%.

Photo Reuters/China Daily

Photo Reuters/China Daily

The share fall came after it was announced three of the company’s executives, including its president, were under police investigation for suspected insider trading and “leaking” inside information.

Elsewhere, investors continued to remain cautious ahead of a decision by the Federal Reserve on whether or not it will raise US interest rates for the first time in nearly a decade.

Japan’s benchmark Nikkei 225 index ended up 0.8% at 18,171.60.

In Australia, the S&P/ASX 200 index closed 1.6% higher at 5,098.90, also recovering from yesterday’s losses.

South Korean shares were up despite tensions in the region, the benchmark Kospi index finished 2% higher at 1,975.45.

Japan’s stock market fell as much as 3% on September 4, touching a seven-month low, as the yen strengthened against the dollar ahead of much-anticipated job numbers from the US due later.

Japan’s Nikkei share index eventually closed down 2.15% at 17,792.16.

The dollar was buying 119.10 yen in afternoon trade, its weakest point since late last month.

A stronger yen is not good for Japanese exporters as it makes their goods more expensive to buy overseas.

Photo Reuters

Photo Reuters

Among big exporters, shares in Toyota dropped 2.5% while Panasonic fell 4%.

Analysts said the yen has strengthened because investors were looking to put their money into safer assets.

Other Asian shares headed lower for much of the day, despite stocks on September 3 getting a boost from the European Central Bank’s (ECB) hints about extending its stimulus program.

The ECB cut its growth and inflation forecasts on September 3, paving the way for an expansion to its asset-buying plan.

South Korea’s Kospi closed down 1.5% at 1,887.61, while in Australia the S&P/ASX 200 closed up 0.25% at 5,040.60.

Hong Kong’s benchmark Hang Seng index closed down 0.45% at 20,840.61, while China’s mainland markets were closed for a holiday to commemorate the end of World War Two.

Japan stock market closed higher for the first time in four days, spurred by a rally on Wall Street.

US shares snapped a two-day losing streak overnight, rebounding from Tuesday’s steep losses as the S&P 500 and Dow Jones rose nearly 2%.

An upward revision in US productivity data ahead of the jobs report on September 4 boosted sentiment among investors rattled by slowing growth in China.

Photo AFP/Getty Images

Photo AFP/Getty Images

Japan’s Nikkei 225 index closed up 0.5% to 18,182.39 – leading Asian gains.

Chinese markets are closed on September 3 and 4 for a holiday to commemorate the end of World War II.

In Australia, the S&P/ASX 200 index ended down 1.3% at 5,035.70. Shares in department store operator Myer Holdings dived 24% after it announced plans to raise 221 million Australian dollars ($154 million) through a rights issue.

In South Korea, shares closed flat after revised second quarter growth figures came out in line with earlier estimates released in July.

The country’s economy grew a seasonally-adjusted 0.3% from April to June from the previous three-month period, while it expanded 2.2% from a year earlier.

South Korea’s benchmark Kospi index finished at 1,915.53.