Wednesday’s World Markets Outlook: Asia-Pacific

SKorean shares rose for the 9th straight session Wednesday on hopes for a quick recovery from the C-19 coronavirus chaos-induced economic downturn, though investors maintained a cautious stance ahead of a Fed policy decision.

The Korean Won firmed to its highest close in more than 3 months, and the benchmark bond yield rose.

The Seoul stock market’s main KOSPI rose 6.77 pts, or 0.31%, at 2,195.69, its highest close since Feb. 19. It also posted its longest winning streak since late September last year.

Australian shares ended at a 3-month high Wednesday on signs of a rapid recovery from the C-19 coronavirus lockdown

The S&P/ASX 200 index edged up 0.1% at 6,148.4 at the close of trade, its highest since 6 March.

New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to 11,260.52.

China stocks ended lower Wednesday as deepening deflation in the country’s producer prices underlined the economic impact of the C-19 chaos on overseas demand, raising doubts about a swift economic recovery.

At the close, the Shanghai Composite index was down 0.42% to 2,943.75.

The blue-chip CSI300 index was down 0.18%, with its financial sector sub-index lower by 0.92%, the consumer staples sector down 0.21%, the Real Estate index down 1.27% and the healthcare sub-index up 1.77%.

The smaller Shenzhen index ended up 0.3% and the start-up board ChiNext Composite index was higher by 0.94%.

Indonesian stocks have gained 13% in the past 2 wks, so I expect to see some correction.

Singapore, Thai and Vietnamese markets all tracked bigger global markets to trade in positive territory for the day, up by between 0.2% and 0.7%.

Asia-Pacific Indexes

Data as of 10 June 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:59am EDT142.70-0.27-0.19%
.TRXFLDHKPThomson Reuters Equity HK Index3:15am EDT291.46+1.48+0.51%
.TRXFLDINPThomson Reuters Equity India Index3:15am EDT1,155.38+7.06+0.61%
.N225Nikkei Stock Average 2252:15am EDT23,124.95+33.92+0.15%
.HSIHang Seng Index3:32am EDT25,052.11-5.11-0.02%
.AORDASX All Ordinaries Index3:20am EDT6,269.30+6.40+0.10%
.KS11KOSPI Index2:32am EDT2,195.69+6.77+0.31%
.SETISET Composite Index3:32am EDT1,422.30+13.93+0.99%
.JKSEJakarta Composite3:46am EDT4,921.35-113.71-2.26%
.PSIPSE Composite Index12:50am EDT6,439.37-144.47-2.19%
.SSECShanghai Composite Index3:07am EDT2,943.75-12.36-0.42%
.BSESNS&P BSE Sensex3:33am EDT34,260.22+303.53+0.89%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:30am EDT1,572.21-2.95-0.19%
.HNX30HNX 30 Index8 Jun 2020237.16+0.31+0.13%

Have a healthy day, Keep the Faith!