Tuesday’s World Markets Outlook: Asia-Pacific

Japan’s Nikkei share average slipped from a two-month high on Tuesday as concerns about further waves of coronavirus infections undermined recent optimism on economic re-openings.

The Nikkei share average ended down 0.12% to 20,366.48 points, a day after it hit a 2-month high. It has risen 18.7% from a bottom hit on 19 March. The broader Topix fell 0.26% to 1,476.72

Australian shares finished lower Tuesday on concerns over a 2nd wave of coronavirus cases in several nations and a partial ban by China on the country’s beef imports.

The benchmark S&P/ASX 200 index fell 1.07% to 5,403.

New Zealand’s benchmark index rose 0.5% at 10,818.67 pts, helped by gains among utility and healthcare stocks

Chinese shares dropped Tuesday on fears about a 2nd wave of coronavirus infections and as a sharp drop in the country’s factory prices underscored the economic impact of The China Virus chaos

At the midday break, the Shanghai Composite index was down 0.59% to 2,877.71 pts.

China’s blue-chip CSI300 index was down 0.49%, erasing earlier gains, with its financial sector sub-index lower by 0.79%, the consumer staples sector up 0.51%, the Real Estate index down 1.25% and the healthcare sub-index up 0.68%.

The smaller Shenzhen index was down 0.65% and the start-up board ChiNext Composite index was weaker by 0.16%.

Chinese H-shares listed in Hong Kong fell 1.69% to 9,821.44, while the Hang Seng Index was down 1.78% to 24,163.29.

Shanghai’s index tracking B-shares, shares that are traded in dollars in Shanghai and HK dollars in Shenzhen, plunged by 6.9% by mid-day break.

Southeast Asian stock markets fell Tuesday on fears of a C-19 coronavirus resurgence in China and its implications for countries easing restrictions, while prospects of US-China tensions flaring further also weighed on sentiment.

Singapore equities declined 1.1% after 4 straight sessions of gainers, and were on course for their worst day in more than a week.

Philippine stocks slid after President Rodrigo Duterte said he would extend lockdown in some areas beyond 15 May.

Thai stocks gave up early gains to trade 0.1% lower, after rising for two consecutive sessions. Estimates from the Tourism Authority of Thailand showed Monday foreign tourist arrivals may plunge by almost two-thirds to 14-M this year, the lowest in 14 yrs, due to the C-19 coronavirus chaos .

Indonesian shares fell 0.8%, dragged lower by financials.

ASIA-PACIFIC INDICES

Data as of 12 May 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:46am EDT129.61-0.44-0.34%
.TRXFLDHKPThomson Reuters Equity HK Index2:49am EDT278.08-3.21-1.14%
.TRXFLDINPThomson Reuters Equity India Index2:48am EDT1,036.39-18.45-1.75%
.N225Nikkei Stock Average 2252:15am EDT20,366.48-24.18-0.12%
.HSIHang Seng Index3:05am EDT24,205.40-396.66-1.61%
.AORDASX All Ordinaries Index2:55am EDT5,497.30-61.80-1.11%
.KS11KOSPI Index2:32am EDT1,922.17-13.23-0.68%
.SETISET Composite Index1:29am EDT1,295.52+8.22+0.64%
.JKSEJakarta Composite3:17am EDT4,569.56-69.55-1.50%
.PSIPSE Composite Index12:50am EDT5,651.67-16.26-0.29%
.SSECShanghai Composite Index3:00am EDT2,891.56-3.25-0.11%
.BSESNS&P BSE Sensex3:04am EDT30,984.23-576.99-1.83%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:05am EDT1,380.36-1.95-0.14%
.HNX30HNX 30 Index10 May 2020213.75+4.07+1.94%

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.