Sat, May 18, 2024

Here is What’s Happened in Asian Stock Market

Asian,Business,People,Meeting,And,Working,On,Digital,Tablet,Stock

On Tuesday, the majority of Asian stock markets marginally increased as investors grew cautiously hopeful about impending data that indicated a persistent decrease in U.S. inflation. After the market closed on Tuesday, Japanese equities rose as increases in the railway & bus, transportation, and retail sectors drove up stock prices.

The Nikkei 225 gained 0.25% in Tokyo when the market closed. East Japan Railway Co. (TYO:9020), which increased 4.23% or 305.00 points to trade at 7,520.00 at the closing, was the best-performing stock on the Nikkei 225. Kawasaki Kisen Kaisha, Ltd. (TYO:9107) saw a 3.60% gain. This equals 290.00 points to 8,350.00 in the late afternoon. Sumitomo Metal Mining Co., Ltd. (TYO:5713) climbed 3.93% or 174.00 points to conclude at 4,596.00.

Mazda Motor Corp (TYO:7261), which lost the most throughout the session and ended trading at 1,189.00, was the poorest performance. SKY Perfect JSAT Holdings Inc. (TYO:9412) was down 2.51% or 14.00 points to 544.00, and Subaru Corp (TYO:7270) down 2.73% or 72.50 points to finish at 2,580.00.

 

What To Watch Out For

 

On the Tokyo Stock Exchange, advancing equities exceeded falling ones by 1818 to 1612, while 339 closed unchanged. Nikkei Volatility, a gauge of implied volatility for Nikkei 225 options, decreased 1.74% to 19.15.

Crude oil for October delivery increased by 0.66, or 0.75%, to $88.44 a barrel. Brent oil for delivery in November increased by 0.73% or 0.69 to touch $94.69 a barrel in another commodity trading. Still, the December Gold Futures contract decreased by 0.28% or 4.95 to trade at $1,735.65 a troy ounce. EUR/JPY slipped 0.12% to 144.35. USD/JPY was down 0.40% at 142.26. At 107.79. Moreover, the DXY was down 0.29%.

A series of abrupt rate increases by the Fed have caused capital to flee risky markets, which has resulted in a steep decline in Asian stock markets this year. Australia’s S&P/ASX 200 index increased 0.5% in the Asia-Pacific region after two polls revealed an improvement in business and consumer optimism there.

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