MARKETS ASIA / Tokyo after the elections to the Higher Chamber – Hong Kong very weak | News

Author: Steffen Gosenheimer

TOKYO / HONG KONG (Dow Jones) – While on Monday politics determined the direction of the stock market in Japan, in China it was a crown pandemic in particular. The fact that the ruling liberal democratic party LDP under Prime Minister Fumio Kishida strengthened its position in the weekend’s upper house elections was well received on the stock exchange as it argues for stability and continuity, especially after the assassination attempt on former Prime Minister Shinzo Abe during the election campaign. The Nikkei index gained 1.1 percent. up to 26 812 points.

The yen, which continued to depreciate against the dollar to its lowest level since September 1998, also favored equities – especially export-oriented companies.

Completely different on the Chinese stock exchanges: Shanghai fell by 1.3 percent, Hong Kong even by 3.0 percent. at the end of the trade after new Covid 19 outbreaks were reported in several Chinese cities. KGI Securities analysts commented that in the short term this would again affect the economic activity and moods in the financial markets.

Additionally, the new price data from China was at least slightly higher than expected, which limits the ability of the central bank to support the economy with monetary easing measures. In the currency market, the yuan has fallen.

Casino stocks under pressure

In Hong Kong, casino shares such as Wynn Macau (-6.5%), Galaxy Entertainment (-6.0%) and Sands China (-8.3%) were under heavy pressure due to the Covid-19 outbreak in Macau. week.

The prices of technology giants were also responsible for a strong disadvantage in Hong Kong. The corresponding sub-index was more than 4 percent lagged in late trading. The background is that Beijing has fined some of the country’s largest internet companies for failing to file proper antitrust declarations in previous deals.

Alibaba, Tencent and Ping An Healthcare & Technology Co, which were replaced, fell 6.1, 2.9, and 4.0 percent respectively. In addition, JD.com fell 4.6 percent and Meituan 5.7 percent. The regulator also announced that it will gradually publish further penalties in other cases.

Sydney following Chinese stock exchanges

In Seoul, the situation was relatively quiet (-0.4%). On the one hand, better than expected data from the US labor market in June were encouraging due to the condition of the economy, on the other hand, according to participants, relatively weak preliminary foreign trade data for South Korea slowed down.

In Sydney (-1.1%), the development in China, the most important export country, after a little start, influenced the development of the most important export country, because it is a bad sign for the demand for e.g. raw materials. . This is particularly noticeable in BHP (-2.3%), Rio Tinto (-1.6%) and Fortescue (-1.8%).

EML Payments collapsed by 25 percent after the CEO unexpectedly and suddenly left the company. Shares are down about 80 percent from May 2021 after the Central Bank of Ireland raised concerns about anti-money laundering compliance management and control processes.

Oil prices also fell by as much as 1.7%.

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

S & P / ASX 200 (Sydney) 6,602.20 -1.1% -11.3% 08:00

Nikkei-225 (Tokyo) 26 812.30 + 1.1% -7.9% 08:00

Kospi (Seoul) 2,340.27 -0.4% -21.4% 08:00

Shanghai Comp. 3 313.58 -1.3% -8.9% 09:00

Hang Seng (Hong Kong) 21,069.18 -3.0% -7.4% 10:00

Taiex (Taiwan) 14 340.53 -0.9% -21.3% 07:30

Straits-Times (vocal) Vacation

BSE (Bombay) 54,221.72 -0.5% -6.9% 12:00

FOREX last + / -% 00:00 Fri, 9:15% YTD

EUR / USD 1.0133 -0.5% 1.0182 1.0148 -10.9%

EUR / JPY 138.74 + 0.1% 138.63 137.83 + 6.0%

EUR / GBP 0.8463 + 0.0% 0.8463 0.8465 + 0.7%

GBP / USD 1.1975 -0.5% 1.2034 1.1990 -11.5%

USD / JPY 136.97 + 0.6% 136.14 135.82 + 19.0%

USD / KRW 1,304.24 + 0.7% 1,294.79 1,300.86 + 9.7%

USD / CNY 6.7135 + 0.3% 6.6953 6.7029 + 5.6%

USD / CNH 6.7121 + 0.3% 6.6890 6.7037 + 5.6%

USD / HKD 7.8493 + 0.0% 7.8490 7.8491 + 0.7%

AUD / USD 0.6811 -0.6% 0.6854 0.6826 -6.2%

NZD / USD 0.6165 -0.4% 0.6188 0.6165 -9.7%

Bitcoin

BTC / USD 20 434.04 -2.8% 21 024.73 21 775.40 -55.8%

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

WTI / Nymex 103.03 104.79 -1.7% -1.76 + 42.8%

Brent / ICE 105.49 107.02 -1.4% -1.53 ​​+ 40.8%

GAS VT close +/- EUR

Dutch TTF 166.50 169.13 -5.0% -8.72 + 45.2%

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

Gold (spot) 1,740.15 1,742.80 -0.2% -2.66 -4.9%

Silver (Spot) 19.23 19.31 -0.4% -0.08 -17.5%

Platinum (Spot) 886.70 898.00 -1.3% -11.30 -8.6%

The future of copper 3.47 3.53 -1.9% -0.07 -22.0%

YTD at the end of the day

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / gos / ros

(END) Dow Jones Newswires

Jul 11, 2022 03:22 ET (7:22 GMT)

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