Wednesday’s World Markets Outlook: Asia-Pacific

Australian shares settled lower Wednesday as rising tensions in Hong Kong over China’s proposed security law took the shine off surging bank stocks and tempered expectations of a global economic recovery.

The S&P/ASX 200 opened lower but recouped losses to rise 1% in intra-day trade. However, selling in the final 15 mins of trade wiped out the gains, with the index closing 0.1% lower to 5,774.4.

New Zealand’s S&P/NZX 50 rose 1.2% at 11,049.19 and hit a fresh 2.5month high.

Japan’s stock benchmark Nikkei rose to a 3-month high Wednesday, with financial stocks leading gains, as speculative short-covering during afternoon trade helped the index recoup losses seen earlier in the day.

The Nikkei average gained 0.7% at 21,419.23, its highest closing level since February 28.

The broader Topix added 1% at 1,549.47, its highest finish since 27 February, with all but 5 of the 33 sector sub-indexes on the Tokyo exchange closing in positive territory.

China and Hong Kong stocks weakened Wednesday as renewed street protests in Hong Kong curbed risk appetite.

China’s blue-chip CSI300 index fell 0.3%, to 3,861.68 points at the end of the morning session, while the Shanghai Composite Index inched down 0.1% to 2,845.01 pts.

The Hang Seng index dropped 0.4% to 23,294.33 pts, while the Hong Kong China Enterprises Index lost 0.3% to 9,566.14.

 China’s CSI financial sector sub-index rose 0.34%, and the Real Estate index added 0.54%. However, the consumer staples sector fell 0.65%, and the healthcare sub-index dipped 1.08%

Philippine shares dropped 1.3%. Conglomerates SM Investments and Ayala Land fell 3% and 2.8%, respectively.

Malaysian shares jumped 1.5% to their highest since early March.

Thai shares advanced 0.6% and were set for a 3rd straight session of gainers. Financials were the top performers, with Siam Commercial Bank and Kasikornbank adding 2.5% and 2.8%, respectively. Thailand’s cabinet on Tuesday extended an emergency decree to fight the C-19 coronavirus to 30 June.

Indonesian shares edged lower on consumer staples, while Vietnamese stocks rose on financials.

ASIA-PACIFIC INDICES

Data as of 27 May 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:40am EDT135.96+1.28+0.95%
.TRXFLDHKPThomson Reuters Equity HK Index2:40am EDT268.93-3.83-1.40%
.TRXFLDINPThomson Reuters Equity India Index2:40am EDT1,040.74+5.20+0.50%
.N225Nikkei Stock Average 2252:15am EDT21,419.23+148.06+0.70%
.HSIHang Seng Index2:55am EDT23,173.97-210.69-0.90%
.AORDASX All Ordinaries Index3:04am EDT5,884.90-5.00-0.08%
.KS11KOSPI Index2:30am EDT2,031.20+1.42+0.07%
.SETISET Composite Index1:29am EDT1,335.35-0.74-0.06%
.JKSEJakarta Composite3:11am EDT4,626.32-0.48-0.01%
.PSIPSE Composite Index12:50am EDT5,523.78+26.95+0.49%
.SSECShanghai Composite Index2:56am EDT2,837.25-9.29-0.33%
.BSESNS&P BSE Sensex2:55am EDT30,930.00+320.70+1.05%
.FTFBMKLCIFTSE Bursa Malaysia KLCI2:56am EDT1,449.19+12.43+0.87%
.HNX30HNX 30 Index25 May 2020217.06+3.31+1.55%

Have a healthy day, Keep the Faith!

#Asia-Pacific#markets#stock#world