Friday’s World Markets Outlook: Asia-Pacific

Friday’s World Markets Outlook: Asia-Pacific

Australian shares eased 1.6% Friday, though gained for the 5th straight week as hopes of a faster-than-expected economic recovery Down Under from C-19 coronavirus chaos-induced disruptions outweighed worries of a deepened US-China rift.

The S&P/ASX 200 closed at 5,755.7 and saw its worst day in 2 wks, as markets nervously awaited a response from the US after China pushed ahead with a new national security law on Hong Kong.

New Zealand’s S&P/NZX 50 rebounded from a drop in the prior session to rise 0.2% at 10,882.41. The index gained for the 2nd month running.

China stocks edged up Friday to finish the week higher, as expectations that Beijing would take necessary measures to underpin the world’s second-largest economy overshadowed concerns over escalating US tensions.

At the close, the Shanghai Composite index was up 0.22% at 2,852.35, while the blue-chip CSI300 index was up 0.27%.

On the week, SSEC and CSI300 gained 1.4% and 1.1%, respectively.

MSCI’s broadest index of Asia-Pacific shares sans Japan , which includes China and a range of emerging and developed markets from across the region, fell 0.3%.

Indonesia and the Philippines stocks rose Friday as their economies started returning to life after the C-19 coronavirus chaos-induced lockdowns, while Singapore and Thailand tracked broader Asia lower

The Philippines stocks rose on plans to ease the lockdown in Manila, with the local benchmark extending its rally to a 3rd day and rising up to 1.5%. Big-cap financials BDO Unibank Inc and Security Bank Corp added as much as 9.3% and 5.4%, respectively.

Indonesian local media here reported that plans were underway to impose “new normal” protocols across 4 provinces, including Jakarta, aimed at increasing productivity even as C-19 cases continue to surge. The benchmark was up for a 4th session and hit its highest mark in nearly 2 months, with healthcare and consumer discretionary stocks contributing to most of the gains.

Vietnamese equities rose 0.4%, with the Real Estate sector leading gains.

ASIA-PACIFIC INDICES

Data as of 29 May 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:59am EDT137.30-1.08-0.78%
.TRXFLDHKPThomson Reuters Equity HK Index3:08am EDT267.95-0.18-0.07%
.TRXFLDINPThomson Reuters Equity India Index3:06am EDT1,079.80+1.98+0.18%
.N225Nikkei Stock Average 2252:15am EDT21,877.89-38.42-0.18%
.HSIHang Seng Index3:23am EDT22,964.64-168.12-0.73%
.AORDASX All Ordinaries Index3:00am EDT5,872.20-85.60-1.44%
.KS11KOSPI Index2:33am EDT2,029.60+1.06+0.05%
.SETISET Composite Index1:29am EDT1,335.51-2.00-0.15%
.JKSEJakarta Composite3:39am EDT4,750.91+34.72+0.74%
.PSIPSE Composite Index12:50am EDT5,838.84+268.62+4.82%
.SSECShanghai Composite Index3:10am EDT2,852.35+6.13+0.22%
.BSESNS&P BSE Sensex3:24am EDT32,096.38-104.21-0.32%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:15am EDT1,461.17+3.67+0.25%
.HNX30HNX 30 Index27 May 2020215.87+1.41+0.66%

Have a healthy weekend, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.