INGOT Brokers AU | Asian market report (2017-05-24)

Asian market report (2017-05-24)

Japanese and Australian equity markets ended higher after yesterday’s trading session close, despite the news regarding Moody’s downgrading China’s credit rating over the expectations that its economic strength will weaken in addition to witnessing a slowing growth over the coming years.

Moreover, the Australian Dollar settled mostly unchanged despite nearing its three months high, after being affect by China’s credit rating downgrading as Australia is one of china’s major trading partners, which lent support for the Australian equities.

 

The Japanese Stock Exchange:

The Japanese stock market index Nikkei 225 rose to 19,742.98 on a mixed trading sessions, gaining 129.70 points or 0.66 percent, after gains in the Gas and Water, Construction and Food sectors led the market higher.

Today’s gainers clearly outnumbered the losers by more than six to one, with 187 gainers, 29 losers and 9 unchanged shares.

The best performers of the session on the Nikkei 225 were, Toshiba Corp. surging by 8.73%, Sapporo Holdings Ltd. adding 130 points and Mitsui Mining and Smelting Co. settling 3.48% higher at to 416.5.

The worst performers of the session on the Nikkei 225 were, Meidensha Corp. falling by 4.25%, Meiji Holdings Co. dropping 180 points and NTT Docomo Inc. ended 0.75% lower at 2,715.

 

Australia Stock Exchange:

The Australian ASX 200 index settled slightly higher at 5,768.975 up by 8.784 points or 0.15 percent after a choppy trading session, supported by the gains in Industrials, Healthcare and Technology sectors as well as the weakened currency.

Today’s gainers outnumbers the loser with a ratio of two to one, witnessing 125 gainers, 63 losers and 12 flat shares.

The best performers of the session on the ASX 200 were, ALS Ltd surging by 12.65%, Vocus Group Ltd adding 0.20 points and Iluka Resources Ltd ended 6.64% higher at 9.15

The worst performers of the session on the ASX 200 were, Sigma Pharmaceuticals Ltd plunging by 31.22%, Resolute Mining Ltd losing .075 points and St Barbara Ltd closing 6.07% lower at 2.865

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