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Wednesday’s World Markets Outlook: Asia-Pacific

Japanese shares fell to 2-wk lows Wednesday, as investors unwound bets in riskier assets following the historic collapse in crude oil prices, while caution ahead of corporate results later this week also weighed on sentiment.

The Nikkei index ended down 0.74% to 19,137.95, with consumer discretionary and information technology sectors leading decline.

China and Hong Kong stocks edged lower Wednesday as investors worried over how long it would take the Chinese and global economies to recover from the damage wrought by the coronavirus chaos and tough lockdown measures.

At the midday break, the Shanghai Composite index was down 0.16% at 2,822.57 pts.

China’s blue-chip CSI300 index was down 0.08%, with its financial sector sub-index dropped 0.55%, the consumer staples sector up 1.91%, the real estate index down 0.91% and the healthcare sub-index up 0.65%.

Chinese H-shares listed in Hong Kong fell 0.33% to 9,583.27, while the Hang Seng Index was down 0.56% at 23,659.61.

In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dropped 2%, while the IT sector rose 0.5%.

The smaller Shenzhen index was down 0.11% and the start-up board ChiNext Composite index was weaker by 0.38%.

SKorean shares fell for a 3rd session running Wednesday as US Crude Oil prices collapsed again overnight, with sentiment also hit by a gloomy outlook for corporate earnings and uncertainty over North Korean leader Kim Jong Un’s health.

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

The Seoul stock market’s main KOSPI fell 24.68 pts, or 1.31%, to 1,854.70 as of 0215 GMT. The index has fallen 15.61% YTD.

Australian shares fell almost 2% Wednesday, dragged by energy stocks as a rout in Crude Oil prices overnight underscored fears of a severe economic fallout from the coronavirus pandemic and fuelled broad risk-off sentiment.

The S&P/ASX 200 index fell 1.8% to 5,127.5 by 0020 GMT, after having hit its lowest mark in more than 2 wks earlier in the session.

New Zealand’s benchmark S&P/NZX 50 index declined 1.5% to a 1-wk low of 10,380.8, and was on course for its 3rd straight session of losses.

Most Southeast Asian stock markets fell for a 2nd session Wednesday as the collapse of Crude Oil prices earlier this wk underscored supply glut worries and exposed the severity of the damage to demand from the coronavirus pandemic.

The Philippine benchmark fell as much as 2.3% to its lowest level since 6 April as consumer stocks weighed. Restaurant chain owner Jollibee Foods shed as much as 3.8% and Robinsons Retail tumbled nearly 3%. Singapore’s Straits Times Index declined 1.5% to hit its lowest in 2 wks. Keppel Corp tumbled as much as nearly 2%, while Genting Singapore hit a two-week low.

Malaysian stocks shed as much as 1.6% to touch its lowest since 14 April. CIMB Group slid as much as 3.6% to a low of over 2 wks, while IOI Corp fell 3.4% to its lowest since 26 March.

Malaysia’s consumer prices in March fell for the first time in more than a year, declining 0.2% from a year earlier amid lower transport costs, government data showed Wednesday.

Thai stocks shed as much as nearly 1%, with LH Financial hitting a near 2-wk low and G J Steel falling around 16.7%.

Indonesia firmed as much as 0.9%. Pelayaran Nelly rose about 34%, while Grand Kartech advanced 24.8%. The country’s finance ministry said on Tuesday nearly 10-T rupiah ($644.33-M) was raised from a biweekly Islamic bonds auction, above the indicative target of 7-T rupiah.

ASIA-PACIFIC INDICES

Data as of 22 April 2020. All quotes delayed at least 15 minutes.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:47am EDT123.29-0.80-0.64%
.TRXFLDHKPThomson Reuters Equity HK Index2:47am EDT270.86+2.29+0.85%
.TRXFLDINPThomson Reuters Equity India Index2:47am EDT1,044.77+10.41+1.01%
.N225Nikkei Stock Average 2252:15am EDT19,137.95-142.83-0.74%
.HSIHang Seng Index3:04am EDT23,900.75+107.20+0.45%
.AORDASX All Ordinaries Index3:17am EDT5,273.80-4.80-0.09%
.KS11KOSPI Index2:33am EDT1,896.15+16.77+0.89%
.SETISET Composite Index1:29am EDT1,241.24-11.68-0.93%
.JKSEJakarta Composite3:19am EDT4,573.81+71.89+1.60%
.PSIPSE Composite Index12:50am EDT5,573.75-18.50-0.33%
.SSECShanghai Composite Index3:00am EDT2,843.98+16.97+0.60%
.BSESNS&P BSE Sensex3:04am EDT31,214.55+577.84+1.89%
.FTFBMKLCIFTSE Bursa Malaysia KLCI3:04am EDT1,376.14-5.59-0.40%
.HNX30HNX 30 Index20 Apr 2020198.58-10.26-4.91%

Have a healthy day, Keep the Faith!

 

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