Japanese and Hong Kong’s Markets Closed Higher Following the Positive Performance in Wall Street

Japanese and Hong Kong’s Markets Closed Higher Following the Positive Performance in Wall Street

July 25, 2018 Off By Yhumi Tsun

Asian equities closed the session on mixed notes, the Japanese and Hong Kong’s indices closed up following the positive performance in Wall Street.

Chinese shares were pressured by the losses in Telecoms, Utilities and Industrials sectors where Shanghai Composite index fell by 0.04 percent or 1.1916 points to close the session in the red at 2,904.37 while Shanghai Shenzhen index dropped by 0.10 percent or 3.54 points to settle lower at 3,578.16.

Moreover, the losses in Healthcare, Consumer Non-Cyclicals and Technology industries have weighed on the shares in South Korean Market where market’s main index Kospi dropped by 0.31 percent or 7.17 points to end the session in the red at 2,273.03.

Meanwhile, Hong Kong’s primary benchmark Hang Seng added 0.90 percent or 258.33 points to close Wednesday’s trading session in the green at 28,920.90 boosted by the gains in most of sectors especially in the sectors of Consumer Cyclicals, Healthcare and Energy.


Japanese Stock Market

Japanese shares were trading higher on Wednesday where the Japanese main index Nikkei225 added 0.46 percent or 103.77 points to close higher at 22,614.25 supported by the gains in Basic Materials, Energy and Telecoms shares.

Among the major exporters, Panasonic and Canon added 0.4 and 0.7 percent respectively while Sony and Mitsubishi advanced by 1 and 3 percent respectively, boosted by weaker yen.

In terms of Auto shares, Honda and Toyota added 1 percent and 0.1 percent respectively. Among Financial stocks, Mitsubishi UFJ Financial is gained 0.1 percent and Sumitomo Mitsui Financial rose by 0.6 percent.

Looking at individual shares, Yamato Holdings advanced by more than 2 percent after the firm announced that it overcharged corporate uses of its moving service by 1.7 billion yen over the 24 months through June.

In the Forex market, the Greenback rose against the Japanese yen to trade higher at 111.233 USDJPY at 09:00 GMT.


Australian Stock Market

However, Australian shares were trading lower today as the losses in Consumer Non-Cyclicals, Healthcare and Telecoms pressured the primary Benchmark where S&P/ASX200 declined by 0.29 percent or 18.20 points to close the session down at 6,247.60.

Among big four banks, NAB, ANZ, Commonwealth and Westpac gained between 0.6 and 1 percent, while in terms of major miners, BHB Billiton and Rio Tento added around 2 percent each while Newcrest dropped by 1 percent.

Looking at individual stocks, the share of Wattle Health Australia jumped by 9 percent after the firm got approval to sell milk in China.

On economic pace, the annual CPI of Australia came lower than the expectations of an increase of 2.2 percent as it rose from 1.9 to 2.1 percent while the quarterly figure remained steady at 0.4 percent while analyst expected an increase to 0.5 percent.

In the currency market, the Aussie remained flat against the Greenback to trade at 0.74182 AUDUSD at 09:00 GMT.