Tue, September 26, 2023

Here is What’s Happened in Asian Stock Market


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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