Asian Market Report, 22nd of March 2019

Asian stocks finished Friday’s session higher as investors dealt with the consequences of a more dovish U.S. Federal Reserve

Moreover, Solid economic data and optimism in the technology sector lifted the U.S. stocks, helping calm some of the fears sparked by the Federal Reserve's cautious outlook on the world's biggest economy.

The mainland Chinese markets were higher at the end of today’s session. The Shanghai Composite finished the session higher, adding 0.09 percent or 2.7 points to close at 3104.14 supported by the improvement in Consumer Non-Cyclicals, Healthcare, and Utilities sectors.

Hong Kong’s main index Hang Seng finished today’s session in the green, adding 0.14 percent or 42 points to close at 29113, the Consumer Cyclical and Technology sectors were the best performing sectors, while Telecommunications Services and Energy were the worst performing sectors.

Elsewhere, the South Korean main index KOSPI surged in today’s session, adding 0.09 percent to close at 2187 supported by the improvement in Technology and Telecommunications Services sectors.

 

Japanese Stock Market:

Japanese stocks finished Friday’s session higher where the main index surged by 0.09 percent or 18.42 points to settle at 21627.34 supported by the improvement in Energy, Utilities, and Telecommunications services sectors, While the Healthcare was the worst performing sector.

In corporate news, Advantest Corp and Tokyo Electric Ltd were the best performers of today’s trading session that rose by 6.18 percent and 5.19 percent respectively. On the other hand, Eisai Co Ltd and was the worst performer of the session, plummeting by 16.55 percent.

In the Forex news, the Japanese Yen rose against the Greenback to trade at 110.219 at 13:00 GMT.

 

Australian Stock Market:

Australia’s main index S&P/ASX200 closed today’s trading session in the green as it rose by 0.45 percent as the market followed a rally on U.S shares after solid U.S. economic data eased worries about a slowing economy to settle at 6195.2. There was improvement across all sectors in today’s session, mainly the Healthcare and Financials sectors.

In corporate news, Pact Group Holdings Ltd and Syrah Resources Ltd were the best performers in today’s trading session adding 6.25 percent and 6.09 percent respectively, While St Barbara Ltd was the worst performer of the session that tumbled by 29.25 percent.

In the Forex market, the Aussie rose against the Greenback to trade at 0.70961 at 13:00 GMT.

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