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May 17, 2021

Asian equities closed today’s session in the red tracking losses from Wall Street

Asian market

Most of the Asian equities closed today’s session in the red tracking losses from Wall Street that accrued in the technology sector.

Chinese shares were trading lower on Monday as the losses in Healthcare Consumer Non-Cyclicals and Technology have weighed on the shares, the primary Chinese benchmarks Shanghai Composite fell by 0.12 percent or 3.53 points to end the session down at 2,870.06, and Shanghai Shenzhen dropped by 0.16 percent or 5.67 to settle down at 3,515.55.

Moreover, Korean shares were trading lower on Monday as the market’s main index lost 0.06 percent or 1.48 points to end the session in the red at 2,293.51 pressured by the losses in Telecoms and Healthcare shares.

Hong Kong shares found pressure from losses in Healthcare and technology sector as both fell by 2.58 and 2.05 percent respectively, the market’s main index lost 0.25 percent or 71.15 points to close the session lower at 28,733.13.

In stocks news, the Biotechnology Changsheng dropped 5 percent after public outcry over a recent vaccine scandal; according to Reuters, the company fabricated manufacturing and test record.

Japanese Stock Market

Japanese stocks were trading lower on Monday as the primary Japanese index NKD225 lost 0.74 percent or 167.91 to close in the red at 22,544.84 pressured by losses in most sectors the Utilities sector was the session worst performer losing 2 percent followed by the Healthcare sector which lost 1.5 percent.

Among the major exporters. Sony declined by more than 1 percent, Panasonic was down by 0.4 percent, and Mitsubishi Electric fell lower by 0.1 percent, while Canon added 0.3 percent.

In the auto space, Toyota is added 0.4 percent, and Honda rose by 0.3 percent. In the banking sector, Mitsubishi UFJ Financial advanced by almost 2 percent.

In the currency market, The Japanese Yen rose against the Greenback as the USDJPY fell to trade at 111.08 at 8:00 GMT.

Australian Stock Market

Australian shares fell on Monday where S&P/ASX200 fell by 0.35 percent or 21.8 points to end the session in the red at 6,278.20 pressured by losses in the technology and Healthcare sectors.

Among big four banks, ANZ Banking, National Australia Bank, Commonwealth Bank and Westpac – were lower in a range of 0.5 percent to 0.9 percent.

Regarding mining companies, Rio Tinto lost nearly 1 percent, and BHP Billiton edged down by 0.1 percent, while Fortescue Metals added 0.4 percent.

In the Forex Market, the Aussie rose against the Greenback to trade higher at 0.7395 at 7:00 GMT.

Ali Hwary

Ali Hwary

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