Wednesday’s World Markets Outlook: Asia-Pacific

Wednesday’s World Markets Outlook: Asia-Pacific

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.

ASIA-PACIFIC INDICES

Data as of 27 May 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:40am EDT135.96+1.28+0.95%
.TRXFLDHKPThomson Reuters Equity HK Index2:40am EDT268.93-3.83-1.40%
.TRXFLDINPThomson Reuters Equity India Index2:40am EDT1,040.74+5.20+0.50%
.N225Nikkei Stock Average 2252:15am EDT21,419.23+148.06+0.70%
.HSIHang Seng Index2:55am EDT23,173.97-210.69-0.90%
.AORDASX All Ordinaries Index3:04am EDT5,884.90-5.00-0.08%
.KS11KOSPI Index2:30am EDT2,031.20+1.42+0.07%
.SETISET Composite Index1:29am EDT1,335.35-0.74-0.06%
.JKSEJakarta Composite3:11am EDT4,626.32-0.48-0.01%
.PSIPSE Composite Index12:50am EDT5,523.78+26.95+0.49%
.SSECShanghai Composite Index2:56am EDT2,837.25-9.29-0.33%
.BSESNS&P BSE Sensex2:55am EDT30,930.00+320.70+1.05%
.FTFBMKLCIFTSE Bursa Malaysia KLCI2:56am EDT1,449.19+12.43+0.87%
.HNX30HNX 30 Index25 May 2020217.06+3.31+1.55%

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.