Most South East Asian stocks rose on optimism around a massive US stimulus package, although Singapore shares fell after the city-state cut its annual growth forecast to better reflect the economic damage from the coronavirus pandemic.
Japanese shares took a tumble Thursday following 3 days of massive gains after a rise in domestic coronavirus cases stoked worries of tougher domestic restrictions for social distancing.
The Nikkei share average dropped 4.51% to 18,664.60. It had risen 18% in the last 3 sessions, including an 8% gainer the Wednesday its biggest since Y 2008.
Australian shares settled higher for a 3rd session running Thursday, as investor sentiment was lifted by the US Senate passing a massive stimulus package to mitigate the economic blow from the coronavirus epidemic and curb its spread.
The S&P/ASX 200 index climbed 2.3% at 5,113.30, its highest close in a week, after Wednesday’s 5.5% gainer.
New Zealand’s benchmark S&P/NZX 50 index gained 3.8%, or 355.6 pts, at 9,619.9.
Chinese shares finished lower Thursday following 2 days of gains as China reported another rise in imported coronavirus cases. At the midday break, the Shanghai Composite index was down 0.18% at 2,776.64.
China’s blue-chip CSI300 index was down 0.16%, with its financial sector sub-index higher by 0.31%, the consumer staples sector up 0.42%, the real estate index down 0.25% and the healthcare sub-index up 0.78%.
Chinese H-shares listed in Hong Kong rose 0.19% to 9,548.04, while the Hang Seng Index was unchanged at 23,527.82.
The smaller Shenzhen index was down 0.34% and the start-up board ChiNext Composite index was weaker by 0.22%.
The Hang Seng erased losses late in the morning session after the U.S. Senate unanimously passed a $2-T bill aimed at helping unemployed workers and industries hurt by the coronavirus pandemic.
Philippine shares gained 4.9%, with property developers SM Prime Holdings Inc and Ayala Land gaining 9.6% and 6.7%, respectively.
The Malaysian index moved 0.7% higher, with gains led by telecom and utilities stocks.
Thai equities added 0.5%. Thailand has put into effect a state of emergency until the end of April, sealing off its borders from non-resident foreigners to contain the virus, though it held off on restricting people’s movement inside the country.
Singapore cut its F-Y GDP forecast and is set to announce more relief measures later, weeks after unleashing multi-billion dollar packages.
ASIA-PACIFIC INDICES
Data as of 26 March 2020. All quotes delayed at least 15 mins.
| Symb | Index | Time | Last | Chg | Chg % |
|---|---|---|---|---|---|
| .TRXFLDJPP | Thomson Reuters Equity Japan Index | 2:57am EDT | 122.72 | -2.37 | -1.89% |
| .TRXFLDHKP | Thomson Reuters Equity HK Index | 2:57am EDT | 259.54 | -0.26 | -0.10% |
| .TRXFLDINP | Thomson Reuters Equity India Index | 2:57am EDT | 981.46 | +41.52 | +4.42% |
| .N225 | Nikkei Stock Average 225 | 2:15am EDT | 18,664.60 | -882.03 | -4.51% |
| .HSI | Hang Seng Index | 3:14am EDT | 23,357.45 | -169.74 | -0.72% |
| .AORD | ASX All Ordinaries Index | 2:15am EDT | 5,135.20 | +129.00 | +2.58% |
| .KS11 | KOSPI Index | 2:33am EDT | 1,686.24 | -18.52 | -1.09% |
| .SETI | SET Composite Index | 1:29am EDT | 1,095.02 | +14.99 | +1.39% |
| .JKSE | Jakarta Composite | 3:29am EDT | 4,327.93 | +390.30 | +9.91% |
| .PSI | PSE Composite Index | 12:50am EDT | 5,401.58 | +373.82 | +7.44% |
| .SSEC | Shanghai Composite Index | 3:00am EDT | 2,764.91 | -16.68 | -0.60% |
| .BSESN | S&P BSE Sensex | 3:14am EDT | 29,986.43 | +1,450.65 | +5.08% |
| .FTFBMKLCI | FTSE Bursa Malaysia KLCI | 25 Mar 2020 | 1,333.39 | +8.89 | +0.67% |
| .HNX30 | HNX 30 Index | 24 Mar 2020 | 181.30 | +6.32 | +3.61% |
Have a healthy day, stay home!
Thursday’s World Markets: Asia and Oceania added by HEFFX Australia on
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