{"id":10185,"date":"2021-05-27T09:18:57","date_gmt":"2021-05-27T09:18:57","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/05\/27\/fed-speak-fails-to-move-asian-stocks\/"},"modified":"2021-05-27T09:18:57","modified_gmt":"2021-05-27T09:18:57","slug":"fed-speak-fails-to-move-asian-stocks","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/05\/27\/fed-speak-fails-to-move-asian-stocks\/","title":{"rendered":"Fed-speak Fails To Move Asian Stocks"},"content":{"rendered":"
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Asian stocks ended Thursday’s trading on a mixed note, with the benchmark indexes in Tokyo, Hong Kong, Seoul and Wellington closing in the red. While China’s Shanghai Composite Index gained moderately, the S&P ASX 200 Index in Sydney closed almost flat. <\/p>\n

The mood was sober as U.S. stock futures traded lower as traders waited for closely watched data on inflation, growth and jobs.<\/p>\n

China’s Shanghai Composite Index touched a three-month high and closed at 3,608.85, a gain of 0.4 percent in today’s trading, amidst a rising yuan, general dollar weakness and an improving sentiment in Sino-U.S. relations.<\/p>\n

Japan’s benchmark Nikkei 225 Index shed 0.3 percent to close at 28,549.01 amidst continuing worries about coronavirus<\/span> cases and the extension of restrictions. Japan Steel Works and Ana Holdings both gained more than 3 percent. Japan Exchange Group as well as Fujitsu lost more than 2 percent.<\/p>\n

Hong Kong’s Hang Seng Index lost 0.2 percent in the day’s trading and settled at 29,113.20. The day’s trading range was tight between 28,989 and 29,199.<\/p>\n

Risk taking remained muted on the Korean stock market amid anxieties regarding fresh coronavirus cases and the benchmark Kospi ended at 3,165.51, a loss of 0.1 percent.<\/p>\n

The Australian benchmark S&P ASX 200 Index closed nearly flat today at 7,094.90 by adding just 0.03 percent to its previous close. Mining company Galaxy Resources was the lead gainer with a rally of 8.68 percent. Financial services company AMP added 8.45 percent to yesterday’s levels. <\/p>\n

Horticulture company Costa group was heavily beaten down and suffered a 24.1 percent drop in a single day following disappointing 2021 earnings guidance. Sigma Healthcare suffered a 6.2 percent decline.<\/p>\n

New Zealand’s benchmark NZX 50 Index closed 0.8 percent lower to end at 12,243.34. Transport company Mainfreight bucked the weak trend and gained 4 percent, while Fonterra Shareholders Fund rallied by 3.4 percent. <\/p>\n

Healthcare devices maker Fisher Paykel Healthcare declined by 5.4 percent despite upbeat results. Rest home operator Ryman Healthcare trailed yesterday’s levels by 5 percent.<\/p>\n

Yesterday, the U.S. stock markets<\/span> remained subdued amidst lingering fears about inflation and Fed tapering, even as most Fed officials continued assurances of an accommodative stance. <\/p>\n

The NASDAQ 100 moved up by 0.3 percent to close at 13,702.74 while the Dow Jones Industrial Average remained close to the flat-line to finish trade at 34,323.05, a minor movement of 0.03 percent. <\/p>\n<\/p>\n<\/div>\n