Asian Equities Close On Mixed Note

Asian markets closed on a mixed note on Tuesday amidst anxiety ahead of crucial economic data. Hong Kong’s Hang Seng Index closed deep in the red ahead of PMI updates from China.

Meanwhile, assurances of an accommodative monetary policy from the People’s Bank of China leadership supported sentiment in the region.

China’s Shanghai Composite Index added 0.2 percent to finish trading at 3,038.55. The day’s trading ranged between 3,020.23 and 3,039.69. The Shenzhen Component Index added 0.5 percent to close at 9,833.46.

The Japanese benchmark Nikkei 225 Index edged down 0.1 percent to end trading at 33,408.39. The day’s trading range was between 33,545.85 and 33,298.04.

Industrial conglomerate Sojitz Corporation was the top gainer with a surge of 8.5 percent. Yokohama Rubber followed with a gain of 4.1 percent. Keio Corp. as well as Nippon Paper Industries added more than 3 percent. Credit Saison also gained close to 3 percent.

Denso Corp was the biggest laggard with a decline of more than 4 percent. Hino Motors, Mazda Motor, Shiseido and T&D Holdings all fell more than 2 percent.

The Hang Seng Index of the Hong Kong Stock Exchange shed 1.0 percent from the previous close to finish trading at 17,354.14. The day’s trading range was between a high of 17,541.48 and a low of 17,303.82.

The Korean Stock Exchange’s Kospi Index jumped 1.1 percent to close trading at 2,521.76. The day’s trading range was between 2,502.26 and 2,522.45.

Australia’s S&P/ASX200 Index closed trading at 7.015.20, adding 0.4 percent. With the gain, the index crossed its 50-day moving average. The day’s trading range was between 6,985.5 and 7,049.20.

Collins Foods surged more than 9 percent following upbeat half-yearly results. Healthcare equipment business Healius followed with a gain of 6.4 percent. Gold miner Regis Resources added 5 percent. Emerald Resources and NRW Holdings, both rallied more than 4 percent.

Core Lithium slipped 4.5 percent. Sayona Mining, specialty retail business Bapcor, engineering business Johns Lyng Group and semiconductor business Weebit Nano all declined more than 2 percent.

The NZX 50 of the New Zealand Stock Exchange climbed 0.7 percent to close trading at 11,237.38 versus the previous close of 11,155.79. Trading ranged between 11,140.17 and 11,237.38.

EROAD and Restaurant Brands New Zealand both surged more than 6 percent in the day’s trading. Oceania Healthcare gained 4.4 percent, followed by Sky Network Television that gained 3.2 percent. Skycity Entertainment Group also gained 2.8 percent.

Vital Healthcare Property Trust, Sanford and Stride Property all declined more than 2 percent. Serko and Air New Zealand both slipped more than 1 percent.

Wall Street closed with mild losses on Monday amidst anxiety ahead of the release of closely watched inflation readings. The Nasdaq Composite edged down 0.1 percent to close at 14,241.02, while the Dow Jones Industrial Average slipped 0.2 percent to finish trading at 35,333.47.

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