Wednesday’s World Markets: Asia Pacific

Japan’s Nikkei share average rose 0.47% at 19,039.91 while the broader Topix gained 0.59% at 1,411.44, extending the rally into its 3rd day.

Australian shares dropped more than 2% Wednesday, as concerns of a massive economic slump due to the coronavirus pandemic coupled with an outlook downgrade on the local economy and banking sector drove investors away from risky assets.

The S&P/ASX 200 index was down 1.9% at 5,152.5, as of 0035 GMT. Earlier in the session, the index slumped as much as 2.5%.

New Zealand, the benchmark S&P/NZX 50 index fell 0.3% to 9,780.1 after gaining as much as 1% earlier in the session.

NZ-listed shares of Westpac Banking Corp slipped 4.4%, while Fisher & Paykel Healthcare Corp lost 3.4%

Southeast Asian stock markets fell Wednesday after 2 sessions of sharp gains, as the death toll from the new coronavirus continued to climb across the globe even though infections showed signs of a slowdown.

New York state suffered the highest daily loss of life from COVID-19 Tuesday, even as the number of hospitalisations seemed to be levelling off.

Italy, the country with the highest death toll at 17,127, reported a fourth consecutive daily decline in the number of people in intensive care.

Denting sentiment further, the FT reported the EU’s Top scientist resigned after his proposal to set up a programme to battle the pandemic was rejected. “This will probably give pause to markets’ mounting optimism about “peak COVID” premised on new cases in Europe begin to show signs of trending lower,” Mizuho Bank said in a note.

Singaporean stocks slumped as much as 2.5%, with conglomerates Jardine Matheson Holdings Ltd and Jardine Strategic Holdings Ltd shedding 5.9% and 5.5%, respectively.

Indonesian equities slipped up to 2.9%, dragged by financials. PT Bank Central Asia Tbk and PT Bank Mandiri (Persero) Tbk lost 1.7% and 4.8%, respectively.

Thai stocks snapped 3 consecutive sessions of gainers, with energy stocks slipping the most. PTT Pcl and PTT Exploration and Production Pcl gave up more than 3% each.

Vietnamese shares fell after 5 straight sessions of gains, with financials leading the decline.

Philippine shares dropped as much as 2.7%, hurt by losses in big-cap conglomerates such as SM Investments and Ayala Land .

ASIA-PACIFIC INDICES

Data as of 8 April 2020. All quotes delayed at least 15 minutes.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:56am EDT124.93+1.98+1.61%
.TRXFLDHKPThomson Reuters Equity HK Index2:56am EDT266.69-3.22-1.19%
.TRXFLDINPThomson Reuters Equity India Index2:56am EDT1,011.55+13.45+1.35%
.N225Nikkei Stock Average 2252:15am EDT19,353.24+403.06+2.13%
.HSIHang Seng Index3:12am EDT23,957.38-295.91-1.22%
.AORDASX All Ordinaries Index2:56am EDT5,258.80-42.50-0.80%
.KS11KOSPI Index2:32am EDT1,807.14-16.46-0.90%
.SETISET Composite Index1:29am EDT1,211.60-3.35-0.28%
.JKSEJakarta Composite3:27am EDT4,587.92-190.71-3.99%
.PSIPSE Composite Index12:50am EDT5,510.83-139.18-2.46%
.SSECShanghai Composite Index3:00am EDT2,815.37-5.39-0.19%
.BSESNS&P BSE Sensex3:12am EDT30,206.90+139.69+0.46%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:12am EDT1,360.37-9.55-0.70%
.HNX30HNX 30 Index6 Apr 2020191.71+1.47+0.77%

Have a healthy day, stay home, Keep the Faith!

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