ASIA / mixed MARKETS – Insurers support the Tokyo Stock Exchange | News

TOKIO / SHANGHAI (Dow Jones) – At the beginning of the new week, no uniform trend could be identified on the stock markets in East Asia and Australia. While encouraging quarterly reports from Japanese companies boosted sentiment in Tokyo, Chinese stock markets were burdened with fears that high inflation and rising interest rates would cloud the outlook for the global economy.

In Shanghai, the Composite index recovered initial losses to close few changes. The main subject of sale on the Chinese stock exchanges were shares of producers of spirits. Kweichow Moutai was down 1 percent in Shanghai. Wuliangye Yibin fell 1.9 percent in Shenzhen.

The re-sell of tech stocks in Hong Kong pushed the Hang Seng index down 1.3 percent towards the end of the trade. Distributors were referring to the increased number of Covid 19 diseases in the Chinese capital, Beijing, and feared that more restrictive lockdowns could now be imposed there after restrictions on contact and movement in the economic metropolis of Shanghai had only been eased slightly. Among the individual stocks, Alibaba Health Information Technology fell by more than 9 percent. Alibaba went down 3.5 percent. AAC Technologies was down approximately 7 percent and Shenzhou International Group was down 5.4 percent.

On the Tokyo stock exchange, the Nikkei 225 index rose by 1.0 percent. The insurance sector is in the lead on the Japanese stock exchange. Tokyo Marine Holdings gained 7.6 percent after the company made optimistic forecasts and announced a share buyback. Sompo gained 7.9 percent. The insurer increased profits by 58 percent in the past financial year, and also announced a share buyback.

The Australian stock market is not impressed by the election result

The Sydney stock market has not changed much after the weekend parliamentary elections won by the Social Democratic Labor Party. Price drops in the banking sector contrasted with profits in the commodity segment. At least market participants do not expect changes in monetary policy under the new government. Citi analyst Josh Williamson noted that minimum wage decisions are made by the Fair Work Commission, which is independent of the government. He added that the increase in wages was the result of a limited labor supply and not a resurgence of union power.

Among individual stocks in Sydney, shares of New Zealand dairy group A2 Milk rose 3.5 percent. Australian food maker Bubs gained 3.4 percent. Citi said both companies could take advantage of the current US infant food shortage.

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Index (stock market) last +/-%% YTD end

S & P / ASX 200 (Sydney) 7,148.90 + 0.0% -4.0% 08:00

Nikkei-225 (Tokyo) 27 001.52 + 1.0% -7.1% 08:00

Kospi (Seoul) 2 647.38 + 0.3% -11.1% 08:00

Shanghai Comp. 3,146.73 + 0.0% -13.6% 09:00

Hang Seng (Hong Kong) 20,443.11 -1.3% -11.4% 10:00

Taiex (Taiwan) 16,156.41 + 0.1% -11.3% 07:30

Straits-Times (Sing.) 3 226.40 -0.4% + 3.6% 11:00

KLCI (Malaysia) 1,547.93 -0.1% -1.2% 11:00

BSE (Bombay) 54,689.98 + 0.7% -6.1% 12:00

FOREX last + / -% 00:00 Fri, 9:30% YTD

EUR / USD 1.0605 + 0.4% 1.0561 1.0576 -6.7%

EUR / JPY 135.44 + 0.3% 135.09 135.34 + 3.5%

EUR / GBP 0.8438 -0.2% 0.8455 0.8474 + 0.4%

GBP / USD 1.2571 + 0.6% 1.2490 1.2479 -7.1%

USD / JPY 127.70 -0.1% 127.87 127.97 + 10.9%

USD / KRW 1,262.80 -0.9% 1,274.21 1,264.93 + 6.2%

USD / CNY 6.6621 -0.5% 6.6930 6.6713 + 4.8%

USD / CNH 6.6708 -0.4% 6.6954 6.6747 + 5.0%

USD / HKD 7.8487 + 0.0% 7.8480 7.8472 + 0.7%

AUD / USD 0.7114 + 0.8% 0.7056 0.7055 -2.0%

NZD / USD 0.6473 + 1.0% 0.6407 0.6407 -5.2%

Bitcoin

BTC / USD 30 416.48 + 1.4% 29 987.07 30 105.83 -34.2%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 111.08 110.28 + 0.7% 0.80 + 52.6%

Brent / ICE 113.49 112.55 + 0.8% 0.94 + 48.6%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,853.18 1,846.60 + 0.4% +6.58 + 1.3%

Silver (Spot) 21.94 21.71 + 1.1% +0.23 -5.9%

Platinum (Spot) 971.50 953.16 + 1.9% +18.34 + 0.1%

The future of copper 4.32 4.27 + 1.0% +0.04 -3.1%

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / cln / ros

(END) Dow Jones Newswires

May 23, 2022 03:19 ET (7:19 GMT)

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