Asian Stock Markets
Asian markets closed mixed on Friday, following a quiet overnight trading session with U.S. markets closed for the Thanksgiving holiday. Chinese stocks ended the week more than 1 percent lower after a heavy sell-off in the previous session.
Japan's Nikkei 225 reversed early losses to close up 0.12 percent at 22,550.85 as markets reopened for trade after a day off. Losses were seen in automakers and manufacturing names. Technology stocks were a mixed picture: Nintendo rose 3.55 percent, SoftBank Group gained 1.4 percent and Sharp was down 1.26 percent by the end of the day.
Across the Korean Strait, the Kospi tacked on 0.28 percent to end at 2,544.33, with tech heavyweight Samsung Electronics gaining 0.29 percent. Financials drifted slightly lower.
Down Under, the S&P/ASX 200 shed 0.06 percent to close at 5,982.55. The industrials and information technology sub-indexes fell 0.42 percent and 0.74 percent respectively by the end of the session.
In China, the benchmark Shanghai Composite eked out gains of 0.06 percent to close at 3,353.82 after trading in negative territory earlier in the day. The index finished the week 1.14 percent lower. The Shenzhen Composite meanwhile lost 0.09 percent to end at 1,922.72, closing the week down 2.5 percent. The blue-chip CSI 300 index, which suffered its largest one-day fall since June 2016 on Thursday, closed higher by 0.04 percent after choppy trade.
Insurers closed mostly lower, although banks and brokerages finished the session mixed. Airlines finished the session with significant gains, with China Eastern Airlines rising 4.98 percent on the day.
A combination of tighter rules for online micro-lenders and firmer bond prices were seen as reasons for the declines on Thursday. Stocks hit by the recent sell-off had in fact risen in the past weeks and still boasted relatively good fundamentals, according to market watchers. "There was panic selling in the market," said Ronald Wan, chief executive at Partners Capital International.
Hong Kong's Hang Seng Index fared better in comparison, climbing 0.54 percent by 3:25 p.m. HK/SIN after closing 1 percent lower on Thursday. Still, the index remained below the 30,000 mark that it topped for the first time in a decade earlier this week.
Japan's Nikkei 225 reversed early losses to close up 0.12 percent at 22,550.85 as markets reopened for trade after a day off. Losses were seen in automakers and manufacturing names. Technology stocks were a mixed picture: Nintendo rose 3.55 percent, SoftBank Group gained 1.4 percent and Sharp was down 1.26 percent by the end of the day.
Across the Korean Strait, the Kospi tacked on 0.28 percent to end at 2,544.33, with tech heavyweight Samsung Electronics gaining 0.29 percent. Financials drifted slightly lower.
Down Under, the S&P/ASX 200 shed 0.06 percent to close at 5,982.55. The industrials and information technology sub-indexes fell 0.42 percent and 0.74 percent respectively by the end of the session.
In China, the benchmark Shanghai Composite eked out gains of 0.06 percent to close at 3,353.82 after trading in negative territory earlier in the day. The index finished the week 1.14 percent lower. The Shenzhen Composite meanwhile lost 0.09 percent to end at 1,922.72, closing the week down 2.5 percent. The blue-chip CSI 300 index, which suffered its largest one-day fall since June 2016 on Thursday, closed higher by 0.04 percent after choppy trade.
Insurers closed mostly lower, although banks and brokerages finished the session mixed. Airlines finished the session with significant gains, with China Eastern Airlines rising 4.98 percent on the day.
A combination of tighter rules for online micro-lenders and firmer bond prices were seen as reasons for the declines on Thursday. Stocks hit by the recent sell-off had in fact risen in the past weeks and still boasted relatively good fundamentals, according to market watchers. "There was panic selling in the market," said Ronald Wan, chief executive at Partners Capital International.
Hong Kong's Hang Seng Index fared better in comparison, climbing 0.54 percent by 3:25 p.m. HK/SIN after closing 1 percent lower on Thursday. Still, the index remained below the 30,000 mark that it topped for the first time in a decade earlier this week.
No comments:
Post a Comment