INGOT Brokers AU | Asian market report (2019-01-28)

Asian market report (2019-01-28)

Asian markets ended today’s session in mixed territories as investors are waiting for a new round of high-level the U.S.-China trade talks, which is set to begin later in the week. Furthermore, liquidity is lower today because the Australian stock market is closed.

Over in mainland China, Shanghai Composite dropped by 0.18 percent or 4.7467 points to trade at 2,596.9767 pressured by decline across most sectors, particularly in the Healthcare sector which declined by 1.77 percent. Furthermore, the blue-chip index Dow Jones Shenzhen fell 0.79 points or 0.22 percent to end the session at 358.23.

Meanwhile, in Hong Kong’s, leading benchmark Hang Seng index rose by 7.77 point or 0.03 percent to trade at 27,576.96 at the close, mostly due to improvement in its Telecommunications Services sector.

China is set to send a delegation led by Vice Premier Liu He to Washington for a fresh round of high-level trade talks later this week.

Investors will be waiting for any important developments on the U.S.-China trade front, with the two sides competing to strike a deal before a deadline in early March. Beijing and Washington have been locked in an ongoing trade war, which saw both sides impose tariffs on each other's goods.

 In South Korea, the KOSPI index ended the session in the red, dropping 0.43 points or 0.02 percent to trade at 2,177.30 mostly due to the decline in Energy and Consumer Non-Cyclicals sectors.

 

Japanese Stock Market:

Japanese equities ended Monday’s session lower as Tokyo’s leading benchmark Nikkei 225 dropped by 124.56 points or 0.6 percent to reach 20,649.00 pressured by 2.04 percent decrease in Utilities sector and 1.24 percent decrease in Telecommunications Services sector.

In stocks news, IHI Corp, Taiheiyo Cement Corp, and Ricoh Co Ltd were the top performers; adding 2.72 percent, 2.08 percent, and 2.02 percent respectively.

On the other hand, Tokyo Electric Power Company and Toyo Seikan Group Holdings were the worst performers of the session falling by 3.86 percent and 3.67 percent respectively.

In Forex news, the Yen fell back against the U.S. Dollar and traded at 109.445 at 12:00 GMT.

 

Australian Stock Market:

Australian stock market is closed today because of (Australian Day) Holiday.

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