MARKETS ASIA / Tokyo friendly – Chinese lighter markets | News

Author: Steffen Gosenheimer

TOKIO / HONG KONG (Dow Jones) – Gains in Tokyo and declines in the Chinese stock market dominated East Asian stock markets on Wednesday. In South Korea, trade stalled due to national election day, while Sydney (+ 0.3%) tended to remain high after Australian GDP grew slightly more than expected in the first quarter to 3.3 percent year on year.

The Nikkei index in Tokyo rose 0.7 percent to 27,458 points. It made some backwind thanks to the further decline in the yen, which is beneficial to the Japanese export industry. Among the biggest gainers were Nissan (+ 7.8%), Kawasaki Heavy (+ 6.0%), Nippon Sheet Glass (+ 5.9%) and Isuzu (+ 5.9%).

The dollar was last seen at 129.24 yen, just below its most recent 20-year high. The background is further discrepancies in the rates of monetary policy in Japan and the US, he said in reference to the current statements of the deputy head of the Japanese central bank.

The Caixin Purchasing Managers’ Index confirms the recovery trend in China

After the new Chinese purchasing manager’s indices were better than a day earlier in the previous month but still in a downturn zone, this picture was confirmed on Wednesday by Caixin / S & P Global’s manufacturing index in May. It did not give a positive impulse anymore.

The market barometer fell by 0.1 percent. in Shanghai and 0.6 percent. in Hong Kong (late trade). IG Yeap strategist Jun Rong said the Hong Kong market has followed a lighter lead from the US. Among other things, the sharp rise in market interest rates worsened there.

According to Nomura analysts Chetan Seth and Ankit Yadav, the market now seems too focused on the current situation and not enough on the possibility of a recovery next year. The investment bank reiterates its overweight recommendation for Chinese equities and, despite the short-term difficulties, talks about attractive valuations and better outlook thanks to Beijing’s political support for the economy.

Oil sector stocks slumped in the region after oil prices plunged sharply in US trading the previous day. In Asian business, they increased slightly again. Prices have been undercut by reports that some OPEC members are considering suspending Russia’s participation in the oil deal as Western sanctions undermine the country’s production capacity. As a result, this could pave the way for other producers to produce more, speculates.

In Sydney, bank stock gains between 0.9 and 2.3 percent pushed the index up. The lithium shares of Liontown (-18%) and Pilbara Minerals (-22%) fell sharply. According to Goldman Sachs analysts, the so-called lithium boom has ended. Stocks of gold also fell.

===

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

S & P / ASX 200 (Sydney) 7,234.00 + 0.3% -2.8% 08:00

Nikkei-225 (Tokyo) 27 457.89 + 0.7% -5.3% 08:00

Kospi (Seoul) Vacation

Shanghai Comp. 3,182.16 -0.1% -12.6% 09:00

Hang Seng (Hong Kong) 21,297.08 -0.6% -8.9% 10:00

Taiex (Taiwan) 16,675.09 -0.8% -8.5% 07:30

Straits-Times (Sing.) 3 241.92 + 0.3% + 3.4% 11:00

KLCI (Malaysia) 1,557.18 -0.8% + 0.2% 11:00

BSE (Bombay) 55 595.07 + 0.1% -4.6% 12:00

FOREX last + / -% 00:00 Tue 9:26% YTD

EUR / USD 1.0736 + 0.0% 1.0733 1.0743 -5.6%

EUR / JPY 138.94 + 0.6% 138.14 137.31 + 6.2%

EUR / GBP 0.8513 -0.1% 0.8518 0.8514 + 1.3%

GBP / USD 1.2611 + 0.1% 1.2601 1.2621 -6.8%

USD / JPY 129.41 + 0.5% 128.70 127.84 + 12.4%

USD / KRW 1,244.39 + 0.2% 1,242.48 1,238.77 + 4.7%

USD / CNY 6.6822 + 0.2% 6.6720 6.6621 + 5.1%

USD / CNH 6.6957 + 0.3% 6.6761 6.6724 + 5.4%

USD / HKD 7.8458 -0.0% 7.8466 7.8481 + 0.6%

AUD / USD 0.7185 + 0.1% 0.7175 0.7182 -1.1%

NZD / USD 0.6504 -0.1% 0.6512 0.6533 -4.7%

Bitcoin

BTC / USD 31,565.54 -0.3% 31 674.84 31 546.51 -31.7%

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 116.04 114.67 + 1.2% 1.37 + 59.4%

Brent / ICE 116.91 115.60 + 1.1% 1.31 -98.5%

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

Gold (spot) 1,835.93 1,837.39 -0.1% -1.46 + 0.4%

Silver (Spot) 21.64 21.57 + 0.3% +0.07 -7.2%

Platinum (Spot) 978.90 968.39 + 1.1% +10.51 + 0.9%

Future copper 4.30 4.30 -0.0% -0.00 -3.3%

===

Contact the author: maerkte.de@dowjones.com

DJG / DJN / gos / smh

(END) Dow Jones Newswires

June 01 2022 03:31 ET (7:31 GMT)

Selected leverage products at Isuzu Motors Ltd.With knockouts, speculative investors can disproportionately participate in price movements. Just select the lever you want and we’ll show you the right products open at Isuzu Motors Ltd.

The leverage must be between 2 and 20

No data

Leave a Comment