Asian Equity Markets Close On A Mixed Note

Sentiment in Asian markets remain mixed as markets brace for the year-end. Market spotlight remains on the minutes of the FOMC scheduled for release on Tuesday afternoon. Investors also focused on the geopolitical developments related to China, the Middle East as well as the Russia-Ukraine conflict.

China’s Shanghai Composite Index closed on a flat note at 3,965.12, snapping a nine-day winning streak. The day’s trading ranged between 3,947.42 and 3,979.99. The Shenzhen Component Index closed at 13,604.07, gaining 0.50 percent from the previous close of 13,537.10.

The Japanese benchmark Nikkei 225 shed 183 points or 0.36 percent to close trading at 50,343.50. The day’s trading range was between 50,208.50 and 50,549.00.

Fujitsu and Nidec Corp, both rallied more than 2.2. percent. Dainippon Screen Mfg Co, Murata Mfg Co, Nitori Holdings Co, all gained more than 1 percent in Tuesday’s trading.

Sumitomo Metal Mining led losses with a decline of 4.8 percent. Rakuten, Japan Steel Works, Mitsubishi Materials Corp, TOTO, all followed with losses of more than 2 percent.

Korean Stock Exchange’s Kospi Index decreased 6 points or 0.15 percent from the previous close of 4,220.56 to close trading at 4,214.17. The day’s trading range was between 4,186.95 and 4,226.36.

The Hang Seng Index of the Hong Kong Stock Exchange jumped 219 points or 0.86 percent from the previous close to finish trading at 25,854.60. The day’s trading range was between a high of 25,930.22 and a low of 25,611.23.

Australia’s S&P/ASX200 closed trading at 8,717.10, shedding 9 points or 0.10 percent from the previous close of 8,725.70. The day’s trading range was between 8,706.60 and 8,751.90.

Netwealth Group rebounded 2.1 percent. Temple & Webster Group, Mirvac Group, Santos, Centuria Capital Group, all rallied more than 1.5 percent.

Silex Systems and Liontown, both plunged more than 4.7 percent. Newmont Corp lost 4.1 percent, Catalyst Metals as well as Evolution Mining lost more than 3 percent.

The NZX 50 of the New Zealand Stock Exchange gained 22 points or 0.16 percent to close trading at 13,548.13, versus the previous close of 13,525.99. The day’s trading ranged between 13,518.17 and 13,569.85.

Synlait Milk topped gains with a surge of 3.2 percent. Pacific Edge, NZX, Scales, Sanford all rallied more than 2 percent.

KMD Brands, Summerset Group, Serko, Genesis Energy, all declined more than a percent.

Wall Street had closed on a negative note on Monday amidst renewed concerns about exaggerated valuations for companies in the AI space. The Dow Jones Industrial Average lost 0.51 percent to finish trading at 48,7461.93. The tech-heavy Nasdaq Composite also dropped 0.50 percent to close trading at 23,474.35.

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