Asian Market Report, 26th of March 2019

Asian stocks finished Tuesday’s session mostly higher after the previous session heavy losses as concerns over global economic slowdown weighed on investor sentiment.

Moreover, Investors sentiment remained fragile amid worries of a U.S. recession while concerns over an extended U.S.-China trade war also weighed.

The mainland Chinese markets were mixed at the end of today’s session. The Shanghai Composite finished the session in the red, falling 1.51 percent or 45.935 points to close at 2997 pressured by the massive losses across all sectors, especially Telecommunications Services, Industrials, and Technology sectors.

Hong Kong’s main index Hang Seng finished today’s session in the green, adding 0.15 percent or 43 points to close at 28566.91. Industrials, Consumer Non-Cyclical, and Energy sectors were the sectors that gained the most.

Elsewhere, the South Korean main index KOSPI ended today’s session higher, adding 0.18 percent to close at 2148.8 supported by improvement in Consumer Non-Cyclicals, Consumer Cyclicals, and Industrials sectors.

 

Japanese Stock Market:

Japanese stocks finished Tuesday’s session higher where the main index surged by 2.15 percent or 451.28 points to settle at 21428.39 supported by gains in most of the sectors, especially Consumer Non-Cyclicals, Healthcare, Industrials, and Technology sectors.

In corporate news, CyberAgent Inc was the best performer of today’s trading session that rose by 8.02 percent. On the other hand, Aozora Bank Ltd was the worst performer of the session, falling by 1.56 percent.

In the Forex news, the Japanese Yen rose against the Greenback to trade at 110.189 at 6:00 GMT.

 

Australian Stock Market:

Australia’s main index S&P/ASX200 closed today’s trading session in the green as it rose by 0.7 percent to settle at 6130.6, supported by mining shares and a small increase in the U.S. benchmark Treasury yields that reduced fears and concern about the world’s biggest economy slipping into recession. There was a decline in multiple sectors in today’s session, but gains in Basic Materials Industrials, Utilities and Telecommunications Services sectors were enough to offset losses.

In corporate news, Lynas Corporation Ltd was the best performer in today’s trading session, as it surged by 35 percent. On the other hand, Eclipx Group Ltd was the worst performer of the session that tumbled by 12.31 percent.

In the Forex market, the Aussie rose against the Greenback to trade at 0.71282 at 6:00 GMT.

 

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