Australian shares settled lower Wednesday as rising tensions in Hong Kong over China’s proposed security law took the shine off surging bank stocks and tempered expectations of a global economic recovery.
The S&P/ASX 200 opened lower but recouped losses to rise 1% in intra-day trade. However, selling in the final 15 mins of trade wiped out the gains, with the index closing 0.1% lower to 5,774.4.
New Zealand’s S&P/NZX 50 rose 1.2% at 11,049.19 and hit a fresh 2.5month high.
Japan’s stock benchmark Nikkei rose to a 3-month high Wednesday, with financial stocks leading gains, as speculative short-covering during afternoon trade helped the index recoup losses seen earlier in the day.
The Nikkei average gained 0.7% at 21,419.23, its highest closing level since February 28.
The broader Topix added 1% at 1,549.47, its highest finish since 27 February, with all but 5 of the 33 sector sub-indexes on the Tokyo exchange closing in positive territory.
China and Hong Kong stocks weakened Wednesday as renewed street protests in Hong Kong curbed risk appetite.
China’s blue-chip CSI300 index fell 0.3%, to 3,861.68 points at the end of the morning session, while the Shanghai Composite Index inched down 0.1% to 2,845.01 pts.
The Hang Seng index dropped 0.4% to 23,294.33 pts, while the Hong Kong China Enterprises Index lost 0.3% to 9,566.14.
China’s CSI financial sector sub-index rose 0.34%, and the Real Estate index added 0.54%. However, the consumer staples sector fell 0.65%, and the healthcare sub-index dipped 1.08%
Philippine shares dropped 1.3%. Conglomerates SM Investments and Ayala Land fell 3% and 2.8%, respectively.
Malaysian shares jumped 1.5% to their highest since early March.
Thai shares advanced 0.6% and were set for a 3rd straight session of gainers. Financials were the top performers, with Siam Commercial Bank and Kasikornbank adding 2.5% and 2.8%, respectively. Thailand’s cabinet on Tuesday extended an emergency decree to fight the C-19 coronavirus to 30 June.
Indonesian shares edged lower on consumer staples, while Vietnamese stocks rose on financials.
Data as of 27 May 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||2:40am EDT||135.96||+1.28||+0.95%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||2:40am EDT||268.93||-3.83||-1.40%|
|.TRXFLDINP||Thomson Reuters Equity India Index||2:40am EDT||1,040.74||+5.20||+0.50%|
|.N225||Nikkei Stock Average 225||2:15am EDT||21,419.23||+148.06||+0.70%|
|.HSI||Hang Seng Index||2:55am EDT||23,173.97||-210.69||-0.90%|
|.AORD||ASX All Ordinaries Index||3:04am EDT||5,884.90||-5.00||-0.08%|
|.KS11||KOSPI Index||2:30am EDT||2,031.20||+1.42||+0.07%|
|.SETI||SET Composite Index||1:29am EDT||1,335.35||-0.74||-0.06%|
|.JKSE||Jakarta Composite||3:11am EDT||4,626.32||-0.48||-0.01%|
|.PSI||PSE Composite Index||12:50am EDT||5,523.78||+26.95||+0.49%|
|.SSEC||Shanghai Composite Index||2:56am EDT||2,837.25||-9.29||-0.33%|
|.BSESN||S&P BSE Sensex||2:55am EDT||30,930.00||+320.70||+1.05%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||2:56am EDT||1,449.19||+12.43||+0.87%|
|.HNX30||HNX 30 Index||25 May 2020||217.06||+3.31||+1.55%|
Have a healthy day, Keep the Faith!