Asian Market Report, 12th of March 2019

Asian markets ended higher on Tuesday’s session taking cues from global stocks which rose after last-minute tweaks to Britain's deal to leave the European Union that eased some fears of a No-Deal Brexit. In economic news, the People’s Bank of China (PBOC) has pledged to gradually unify two interest rate "tracks" its market-based rates that have been developed in recent years and its benchmark bank deposit and lending rates. The mainland Chinese markets were in the green at the close of today’s session. The Shanghai Composite rose by 1.10 percent or 33.314 points to settle at 3,060.3073 supported by Telecommunications Services, Technology, and Consumer Cyclicals sectors. Hong Kong’s main index Hang Seng closed Tuesday’s trading session higher, supported by all sectors to close the session at 28,920.87. South Korean benchmark KOSPI added 0.89 percent to end the session at 2,157.18 supported by significant gains in Technology, Consumer Cyclicals, and Utilities sectors. In automotive news, Hyundai Motor, one of the largest automaker companies, saw its stock surged by 3.72 percent to end at 125,500.

© Copyright 2019 The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.