Asian Market Report, 20th of March 2019

Asian stocks finished Wednesday’s session mostly lower after multiple negative reports related to the U.S.-China trade conflict. Japan stocks closed higher, while China, Korea, and Australia stocks finished the session lower.

In other news, the White House officials said yesterday that a group of the top U.S. trade and economic officials are going to visit China next week for another round of negotiations on their dispute over Beijing’s industrial policies and other issues. The news suggests hope for progress, even if delayed, in the tariffs war between the world two largest economies.

 The mainland Chinese markets fell at the end of today’s session. The Shanghai Composite was almost flat at the end of today’s session, falling 0.01 percent to close at 3090.6 pressured by the decline in Technology, Utilities and Energy sectors.

Hong Kong’s main index Hang Seng finished Wednesday’s session in the red, falling 0.49 percent or 145.31 points to close at 29320.97, gains the Telecommunications Services and Consumer Non-Cyclicals sectors were not sufficient to offset losses in Healthcare, Industrials and Utilities sectors.

Elsewhere, the South Korean main index KOSPI fell slightly in today’s session, declining by 0.02 percent to close at 2177.1 pressured by the losses in most of the sectors, mainly Utilities, Basic Materials, and Telecommunications services sectors.


Japanese Stock Market:

Japanese stocks finished Wednesday’s session higher where the main index surged by 0.2 percent or 42.07 points to settle at 21608.92 supported by the improvement in multiple sectors, mainly the Basic Materials, Industrials and Consumer Cyclicals sectors.

In corporate news, Rakuten Inc and Mitsui Mining and Smelting Co Ltd were the best performers of today’s trading session, which rose by 4.12 percent and 4.08 percent respectively. On the other hand, Chiyoda Corp was the worst performer of the session, declining by 3.7 percent.

In the Forex news, the Japanese Yen fell against the Greenback to trade at 111.483 at 12:00 GMT.

 

Australian Stock Market:

Australia’s main index S&P/ASX200 closed today’s trading session in the red as it fell by 0.32 percent or 19.5 points to settle at 6165.3. Gains in Technology and Utilities sectors was not enough to offset the massive losses in sectors like the Basic Materials and Telecommunications services sectors.

In corporate news, Seven West Media Ltd and Corporate Travel Management Ltd were the best performers in today’s trading session, adding 5.1 percent and 4.36 percent respectively. On the other hand, Eclipx Group Ltd and Nufarm Ltd were the worst performers of today’s session that plummeted by 55.97 and 23.92 percent respectively.

In the Forex market, the Aussie rose against the Greenback to trade at 0.70863 at 12:00 GMT.

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