Asian Market Report, 11th of March 2019

Asian markets ended Monday’s session in mixed territories after the U.S. and China missed expectations on crucial data last Friday, prompting further worries over a global economic slowdown.

In economic news, Chinese customs data showed exports dropped by 20.7 percent on-year last month, missing economists’ expectations of a 4.7 percent decline. Imports tumbled by 5.2 percent, more than the 1.4 percent predicted to fall.

The mainland Chinese markets were in the green at the close of today’s session. The Shanghai Composite rose by 1.92 percent or 57.131 points to settle at 3,026.9925 supported by all sectors.

Hong Kong’s main index Hang Seng closed Monday’s trading session higher, supported by Healthcare and Technology sectors to close the session at 28,503.30.

South Korean benchmark KOSPI added 0.1 percent to end the session at 2,138.10 supported by significant gains in Consumer Cyclicals, Financials, and Utilities sectors.

In automotive news, Hyundai Motor one of the largest automaker companies saw its stock added 0.83 percent.

Japanese Stock Market:

Japanese stocks ended higher on Monday’s session where the main index Nikkei up by 0.47 percent or 99.53 points to close the session at 21,125.09, supported by gains in Consumer Cyclicals, Financials and Utilities sectors.

In corporate news, Jayjun Cosmetic Co Ltd was the worst performer for today’s trading session which dropped by 7.42 percent followed by Pyung Hwa Holdings Co Ltd which tumbled by 7.26 percent.

On the other hand, Kukbo Transportation Co Ltd was the best performer on Monday’s trading session which surged by 21.84 percent followed by Woongjin Thinkbig Co Ltd which added 17.91 percent.

Meanwhile, Nissan shares rose by 1.11 percent as the company’s the former Nissan chairman, Carlos Ghosn, is reportedly seeking permission from the Tokyo District Court to attend the automaker’s board meeting on Tuesday.

In the Forex pace, the Japanese Yen fell against the Greenback to trade at 111.127 at 12:00 GMT.

Australian Stock Market:

Australia’s S&P/ASX200 ended Monday’s trading session in the red as it inched down by 0.38 percent or 23.600 points to close at 6,180.200 pressured by the losses in Energy, Consumer Cyclicals and Consumer Non-Cyclicals sectors.

In stocks news, Bingo Industries Ltd was the worst performer on Monday session which lost 4.97 percent followed by WorleyParsons Ltd which dropped by 4.18 percent.

In the Forex market, the Aussie rose against its counterpart the U.S. Dollar to trade at 0.70460 at 12:00 GMT.

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