Tue, February 07, 2023

Australia Stocks and Dramatic Comeback

Australian stocks on Friday

Investors are closely monitoring the situation to learn more about the impact of Coronavirus on the stocks. Stock markets across the Asia Pacific region were mixed on Friday. Some of them strengthened their positions while others fell due to the ongoing situation.

For instance, Australia’s S&P/ASX 200 index made a dramatic comeback as it recovered from earlier losses. The S&P/ASX 200 index added 4.42% to end its trading day at 5,539.30.

Moreover, India’s Nifty 50 index added 2.15%. Nevertheless, in Thailand, the SET composite index was last declining 0.98% after a brief turnaround earlier.

In Japan, the Nikkei 225 dropped 6.08% to close at 17,431.05. Importantly, at some point, the index even fell 10%.

The Topix index fell 4.98% to end its trading day at 1,261.70.

South Korea’s Kospi index declined 3.43% to close at 1,771.44. In the meantime, the Kosdaq index dropped 7.01% to end its trading day at 524.

Hong Kong’s Hang Seng index fell 1.49%.

Stocks in Asia on FridayStocks across the Asia Pacific region

Unfortunately, Chinese stocks also declined on Friday. The Shanghai Composite dropped 1.23% to about 2,887.43. Meanwhile, the Shenzhen component fell 1% to 10,831.13. The Shenzhen composite dropped 1,076% to around 1,798.98.

Meanwhile, Hong Kong’s Hang Seng index fell 1.49%.

Singapore is one of the major financial hubs; the Straits Times Index was 2.24% lower in afternoon trade. Malaysia’s FTSE Bursa Malaysia KLCI Index fell 4.42%.

Also, Indonesia’s Jakarta Composite fell by 2.4%.

Shares of airlines declined due to the ongoing situation. Australia’s Qantas Airways fell 12.64%.

Furthermore, shares of ANA Holdings dropped 7.59%, and shares of Japan Airlines fell 12.51%. Interestingly, shares of Korean Air Lines dropped 5.07%.

Shares of China Southern Airlines fell 2,.92%, and Singapore Airlines’ in Singapore fell 2.86%. It is not surprising that shares of major airlines in the region fell on Friday, as the government not only in Asia but across the world-imposed travel restrictions.

YOU MAY ALSO LIKE

Oil

Oil prices recovered from last week’s 8.2% drop on supply concerns, but

dollar

The dollar held firm against the euro, with traders saying the U.S.

Tether

What Is Tether, And How Does It Work? In 2014, American businesspeople

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

OANDA Exits Malta to Consolidate European Business

After years in the retail trading industry, OANDA intends to close all Malta operations on March 17th, 2023. Oanda plans to operate its European business solely under one regulated entity in Poland. On

BROKER NEWS

Broker News

OANDA Exits Malta to Consolidate European Business

After years in the retail trading industry, OANDA intends to close all Malta operations on March 17th, 2023. Oanda plans to operate its European business solely under one regulated entity in Poland. On Monday,