Asian Market Report, 29th of March 2019

Asian stocks ended Friday’s session in green territories as investors are optimistic over the resume of the negotiation between U.S. and China.

Reuters reported that Chinese officials made unprecedented offers regarding forced technology transfers as well as other major sticking points, as U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Beijing for further negotiations.

Adding that, the trade standoff between the two economic powerhouses has been closely watched by investors, amid rising concerns of an economic slowdown as the bond market flashed signals that a recession could come soon.

The mainland Chinese markets were up at the end of today’s session. The Shanghai Composite finished the session green, which rose by 3.20 percent or 95.81 points to close at 3,090.76 boosted by the gains in all sectors.

Hong Kong’s main index Hang Seng finished today’s session higher, adding 0.96 percent or 276.15 points to close at 29,051.36. Consumer Cyclicals, Healthcare, andTechnology sectors were the sectors that gained the most.

Elsewhere, the South Korean main index KOSPI ended today’s session higher, advanced by 0.59 percent to close at 2,140.67 supported by gains in Industrials, and Basic Materials sectors.

 

Japanese Stock Market:

Japanese stocks finished Friday’s session higher where the main index added by 0.82 percent or 172.05 points to settle at 21,205.81 boosted in most of the sectors, especially Healthcare, and Telecoms sectors.

In corporate news, Daiichi Sankyo Co LTD was the best performer of today’s trading session that rose by 15.91 percent. On the other hand, Kyow Hakko Krin CO LTD was the worst performer of the session that fell by 3.30percent.

In the Forex news, the Japanese Yen rose against the Greenback to trade at 110.723 at 12:30 GMT.

 

Australian Stock Market:

Australia’s main index S&P/ASX200 closed today’s trading session higher, as it rose by 0.07 percent to settle at 6,180.70 supported by the in Technology, Healthcare, and Basic Materials sectors.

In corporate news, Super Retail Group was the best performer in today’s trading session, as it surged by 5.66 percent. On the other hand, Eclipx was the worst performer of the session that tumbled by 4.48 percent.

In the Forex market, the Aussie fell against the Greenback to trade at 0.70978 at 12:30 GMT.

 

 

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