Thursday’s World Markets Outlook: Asia-Pacific

Chinese shares closed lower Thursday as investors worried about a prolonged recovery in the economy, while awaiting more active stimulus policies to cushion the blow from the C-19 coronavirus chaos.

The Shanghai Composite index ended 0.96% lower to 2,870.34.

The blue-chip CSI300 index shed 1.08%, with its financial sector sub-index sliding 1.33%, the consumer staples sector falling 1.23%, the Real Estate index declining 1.67%. Its healthcare sub-index edged down 0.11%.

The smaller Shenzhen index finished down 0.94% and the start-up board ChiNext Composite index was weaker by 1.076%.

The S&P/ASX 200 index ended 1.72% lower to 5,328.7, with nearly all sectors firmly in the Red. The index has lost over 20% YTD, erasing all of the gainers it made in Y 2019, as the country faces its 1st recession in 30 yrs.

New Zealand’s benchmark S&P/NZX 50 index finished off 0.4% as losses in the financial and utilities sectors weighed.

Japan’s benchmark Nikkei average declined 1.7% to 19,914.78, moving away from a 2-month high hit earlier this week.

The broader Topix shed 1.9% to 1,446.55, also off Monday’s 2-month highs, with all but 1 of the 33 sector sub-indexes on the Tokyo exchange finishing lower.

Most Southeast Asian stock markets fell Thursday as fears of a delay in economic recovery due to rising C-19 coronavirus cases in countries easing lockdowns were exacerbated by dour outlook from the Fed Chairman.

Shares in Singapore, a bellwether for global trade, fell 1.4% to their lowest level since 27 April

The Philippine index dropped 0.8%, set for a 3rd straight session of losses. The country’s government said on Wednesday gross domestic product is expected to decline 2% to 3.4% this year, the 1st contraction in more than two decades.

In Malaysia, the benchmark edged 0.3% lower after data showed on Wednesday the economy will contract in Q-2 as the coronavirus hits exports and domestic demand.

ASIA-PACIFIC INDICES

Data as of 14 May 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:59am EDT126.86-2.46-1.90%
.TRXFLDHKPThomson Reuters Equity HK Index3:16am EDT275.73-3.01-1.08%
.TRXFLDINPThomson Reuters Equity India Index3:16am EDT1,056.05-13.22-1.24%
.N225Nikkei Stock Average 2252:15am EDT19,914.78-352.27-1.74%
.HSIHang Seng Index3:31am EDT23,873.68-306.62-1.27%
.AORDASX All Ordinaries Index3:28am EDT5,418.00-95.70-1.74%
.KS11KOSPI Index2:33am EDT1,924.96-15.46-0.80%
.SETISET Composite Index3:31am EDT1,277.06-17.49-1.35%
.JKSEJakarta Composite3:46am EDT4,502.20-52.16-1.15%
.PSIPSE Composite Index12:50am EDT5,654.70+28.45+0.51%
.SSECShanghai Composite Index3:15am EDT2,870.34-27.71-0.96%
.BSESNS&P BSE Sensex3:32am EDT31,425.44-583.17-1.82%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:31am EDT1,393.71-3.42-0.24%
.HNX30HNX 30 Index12 May 2020216.68+1.93+0.90%

Have a healthy day, Keep the Faith!

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge. 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.