Mixed Sentiment In Asian Markets

Asian markets moved in a mixed fashion on Wednesday amidst anxiety ahead of the release of earnings news from chip giant Nvidia.

While Japan’s Nikkei 225 Index, Australia’s S&P/ASX 200 Index and South Korea’s Kospi increased, China’s Shanghai Composite Index, Hong Kong’s Hang Seng Index and New Zealand’s NZX 50 Index declined.

China’s Shanghai Composite Index plunged 1.8 percent to finish trading at 3,800.35. The day’s trading ranged between 3,887.20 and 3,800.35. The Shenzhen Component Index closed 1.4 percent lower at 12,295.07.

The Japanese benchmark Nikkei 225 Index rose 0.2 percent to close at 42,480.50. The day’s trading range was between 42,268 and 42,630.5.

Nikon Corp. topped gains with a surge of 20.7 percent. Chugai Pharmaceutical Co. followed with a rally of 6.1 percent. Rakuten declined 3.9 percent.

The Korean Stock Exchange’s Kospi Index added 0.3 percent to close trading at 3,187.16. The day’s trading range was between 3,165.77 and 3,189.31.

The Hang Seng Index of the Hong Kong Stock Exchange slumped 1.3 percent from the previous close to finish trading at 25,201.76. The day’s trading range was between a high of 25,653.92 and a low of 25,140.17.

Australia’s S&P/ASX 200 Index closed trading at 8,960.50, gaining 0.3 percent from the previous close. The day’s trading range was between 8,935.20 and 8,965.00.

Tabcorp Holdings surged 23.9 percent followed by Siteminder that rallied 21 percent. Domino’s Pizza Enterprises plunged 22 percent followed by Woolworths Group that declined 14.7 percent.

The NZX 50 Index of the New Zealand Stock Exchange declined 0.7 percent to close trading at 12,861.84, versus the previous close of 12,957.98. The day’s trading ranged between 12,853.17 and 13,015.11.

Biotechnology company Pacific Edge topped gains with an addition of 3.7 percent. Pharmaceutical retailer EBOS Group led losses with a plunge of 13.9 percent after it reported a massive decline in revenues and profits.

Wall Street closed on a mildly positive note on Tuesday, supported by a gain by chip giant Nvidia. The Dow Jones Industrial Average added 0.3 percent to finish trading at 45,418.07. The Nasdaq Composite also climbed 0.4 percent to close trading at 21,544.27.

Market Analysis