Thursday’s World Markets Outlook: Asia-Pacific

China stocks rallied Thursday to post their biggest monthly advance since December, after positive trial results for a drug to treat COVID-19 and downbeat data reinforced hopes of further stimulus to bolster the world’s 2nd-largest economy.

The blue-chip CSI300 index ended up 1.2% at 3,912.58, while the Shanghai Composite Index closed 1.3% higher at 2,860.08.

On the week, CSI300 gained 3.1%, while SSEC added 1.8%.

On the month, CSI300 climbed 6.1%, while SSEC was up 4%, both posted their best monthly rise since last December, as investors cheered the reopening of some parts of the country and a number of stimulus measures.

Japanese stocks scaled a near 8-wk closing high Thursday, tracking Wall Street’s overnight rally on promising early trial results of an experimental COVID-19 treatment, as well as on solid tech earnings and a surge in Crude Oil prices.

The benchmark Nikkei average advanced 2.6% at 20,193.69, its highest closing level since 9 March, with trading volume on the main board hitting a 1-month peak of $28.8-B.

The Nikkei volatility index, considered a fear gauge based on option pricing, dropped 11.9% to an 8-wk low of 29.4, reflecting a decline in investor anxiety.

The broader Topix gained 1.0% at 1,464.03, also its highest close since 6 March, with more than 67% of the 33 sector sub-indexes on the Tokyo exchange finishing higher.

Southeast Asian stock markets climbed Thursday as progress in the development of a COVID-19 treatment and higher Crude Oil prices spurred a rally.

Singapore shares jumped as much as 2.3% to a near 2-wk peak and led gains in the region, underpinned by a jump in shares of DBS Group Holdings.

Stocks in Indonesia, the region’s largest economy, gained about 2.5% to hit their highest level since 15 April. West Java, Indonesia’s most populous province, hopes to ease coronavirus social distancing restrictions in some areas and allow some factories to reopen as infections decline.

In Thailand, the energy sector drove the main stock index 1.4% higher to a near 8-wk peak.

Malaysian shares gained more than 1%, helped by Genting Malaysia 3.4% rise and Petronas Chemicals Group’s near 5% climb.

ASIA-PACIFIC INDICES

Data as of 30 April 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:59am EDT128.36+1.39+1.09%
.TRXFLDHKPThomson Reuters Equity HK Index3:10am EDT278.95+0.00+0.00%
.TRXFLDINPThomson Reuters Equity India Index3:09am EDT1,119.11+28.80+2.64%
.N225Nikkei Stock Average 2252:15am EDT20,193.69+422.50+2.14%
.HSIHang Seng Index29 Apr 202024,643.59+67.63+0.28%
.AORDASX All Ordinaries Index2:49am EDT5,597.70+133.90+2.45%
.KS11KOSPI Index29 Apr 20201,947.56+13.47+0.70%
.SETISET Composite Index3:26am EDT1,295.47+12.79+1.00%
.JKSEJakarta Composite3:40am EDT4,710.84+143.52+3.14%
.PSIPSE Composite Index12:50am EDT5,700.71+56.74+1.01%
.SSECShanghai Composite Index3:00am EDT2,860.08+37.64+1.33%
.BSESNS&P BSE Sensex3:25am EDT33,665.92+945.76+2.89%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:25am EDT1,403.13+22.83+1.65%
.HNX30HNX 30 Index28 Apr 2020203.60+1.94+0.96%

Have a healthy day, Keep the Faith!

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