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 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.