Thursday’s World Markets Outlook: Asia-Pacific

Thursday’s World Markets Outlook: Asia-Pacific

China and Hong Kong stocks were little changed Thursday ahead of the country’s annual parliament session, starting this week, that could yield more economic stimulus.

At the midday break, the Shanghai Composite index was up 0.05% at 2,885.20.

China’s blue-chip CSI300 index was up 0.06%, with its financial sector sub-index losing 0.07%, the Real Estate index falling 0.08%, while its healthcare sub-index rose 2.07%.

Chinese H-shares listed in Hong Kong fell 0.14% to 9,884.44, while the Hang Seng Index was down 0.01% to 24,397.29.

The smaller Shenzhen index was down 0.09%, while the start-up board ChiNext Composite index was higher by 0.46%.

Japan’s Nikkei share average was little changed by midday Thursday after profit-taking pulled shares down from the 2,5-month high hit earlier in the session.

The Nikkei share average was down 0.05% to 20,583.95, after rising as much as 20,734.91, its highest mark since 8 March. The broader Topix lost 0.11% to 1,493.06.

SKorean shares rose Thursday as investors looked past the tepid domestic exports data and bet on a swift economic recovery from the C-16 coronavirus-induced recession and fresh stimulus measures from the United States.

The Korean won weakened, while the benchmark bond yield rose.

The Seoul stock market’s main KOSPI edged up 6.20 pts, or 0.32%, at 1,995.84 by 0232 GMT.

 Australian shares rose to their highest in more than 2 months Thursday, tracking an overnight tech-led rally on Wall Street, as investors bet on renewed hopes of a swift economic recovery from the C-19 coronavirus-driven recession.

The S&P/ASX 200 index was up 0.3% at 5,591.9, as of 0055 GMT. Earlier in the session, the benchmark hit its highest since 12 March.

New Zealand’s benchmark S&P/NZX 50 index rose 0.4% at 10,828.78.

Southeast Asian stock markets rose on Thursday, tracking gains in Asia and Wall Street equities, as investors again bet on hopes of quicker economic recovery from the C-19 coronavirus-led lockdowns ahead of a Key policy meeting in China.

Malaysian stocks extended gains into a 7th session and rose 1% to their highest mark since 11 March, with healthcare and utilities weighing the most.

Singapore equities were higher in choppy trade after falling in the prior session.

Thai shares added 0.6% and were on course for a 5th straight session in the Green, a day after the country’s central bank cut its benchmark interest rate to a record low.

Vietnam’s benchmark edged half a per cent higher, boosted by consumer staples and financials. The benchmark was set to extend gains into a fourth session.

Financial markets in Indonesia were closed for a public holiday.

ASIA-PACIFIC INDICES

Data as of 21 May 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:29am EDT130.80-0.27-0.21%
.TRXFLDHKPThomson Reuters Equity HK Index2:30am EDT279.73-2.84-1.01%
.TRXFLDINPThomson Reuters Equity India Index2:28am EDT1,044.53+8.97+0.87%
.N225Nikkei Stock Average 2252:15am EDT20,552.31-42.84-0.21%
.HSIHang Seng Index2:46am EDT24,285.45-114.50-0.47%
.AORDASX All Ordinaries Index2:17am EDT5,660.80-19.30-0.34%
.KS11KOSPI Index2:32am EDT1,998.31+8.67+0.44%
.SETISET Composite Index1:29am EDT1,330.13+7.93+0.60%
.JKSEJakarta Composite20 May 20204,545.95-2.70-0.06%
.PSIPSE Composite Index12:50am EDT5,604.49+22.53+0.40%
.SSECShanghai Composite Index2:46am EDT2,867.46-16.27-0.56%
.BSESNS&P BSE Sensex2:46am EDT31,036.86+218.25+0.71%
.FTFBMKLCIFTSE Bursa Malaysia KLCI2:44am EDT1,451.85+16.73+1.17%
.HNX30HNX 30 Index19 May 2020209.75-2.87-1.35%

Have a healthy day, Keep the Faith!

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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.