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!

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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.