(Seoul = Yonhap Infomax) Ministry of International Economy = Major stock markets in Asia rose on the 7th ahead of a speech by US Federal Reserve Chairman Jerome Powell. The Japanese stock market ended mixed.
◇ Japan = Major indices in the Japanese stock market showed a mixed trend ahead of the speech of Jerome Powell, chairman of the Federal Reserve System (Fed).
According to the Yonhap Infomax World Stock Index (screen number 6511), the Nikkei 225 index, which is centered on large export stocks, closed at 27,685.47, down 8.18 points (0.03%) from the previous business day.
The Topix Index, which reflects stock prices of all stocks listed on the first section of the Tokyo Stock Exchange, closed at 1,983.40, up 4.18 points (0.21%).
Major indices opened on an upward trend at the beginning of the trading day. As the dollar-yen exchange rate rose (weak yen) in the New York market last night, exporters flocked to buying. The dollar-yen exchange rate jumped more than 1% the day before.
The index reduced the intraday rise, and in the case of the Nikkei index, it turned to a decline in the afternoon. This is because profit-realization sales came out on alert ahead of Chairman Powell’s speech.
Chairman Powell speaks at the Economic Club event in Washington, DC.
The Tokyo stock market rose mainly in export stocks such as automobiles and semiconductor companies, and JEF Holdings issued poor performance forecasts, increasing the decline in stock prices.
In the foreign exchange market, the dollar index fell 0.11% to 103.46.
As of 3:08 pm Korean time, the dollar-yen exchange rate was trading at 132.22 yen, down 0.30% from the battlefield.
◇ Taiwan = The Taiwanese stock market closed with a strong dip in the search for the direction of the market.
On this day, Taiwan’s Gagwon Index closed at 15,400.91, up 8.09 points (0.05%) from the battlefield.
The Gagwon index started rising, but hovered around the level of the Bohabgwon for most of the intraday.
Despite the positive outlook for the Taiwanese stock market this year, it was interpreted that the rise was limited by tightening risks.
Morgan Stanley predicted in a report on the 5th (local time) that the Taiwanese stock market would benefit from China’s reopening in the future.
CNBC reported on the same day that Goldman Sachs is also presenting an ‘overweight’ opinion on Taiwan stocks for the same reason.
The market’s upward movement was dampened while waiting for comments from Federal Reserve Chairman Jerome Powell.
Markets are concerned that Powell may become more hawkish about the sharp rise in nonfarm payrolls in the US in January.
Among the major industries, computers and facilities performed relatively well, rising 0.81%.
As of 3:10 pm, the dollar-Taiwan dollar exchange rate was traded at 30.019 Taiwan dollars, up 0.09% from the battlefield.
An increase in the dollar-to-Taiwan dollar exchange rate means a decrease in the value of the Taiwan dollar against the dollar.
◇ China = Major indices in the Chinese stock market rebounded on expectations of easing real estate policies after the tension between the US and China was digested.
On this day, the Shanghai Composite Index closed at 3,248.09, up 9.40 points (0.29%), and the Shenzhen Composite Index closed at 2,152.89, up 7.71 points (0.36%).
Unlike the previous day, the Chinese stock market showed signs of digesting the tension related to the downing of the US-China aircraft.
The yuan also recently turned slightly stronger from its one-month low, reflecting improved market sentiment.
In particular, real estate-related stocks received support due to changes in the Chinese authorities’ easing real estate policy.
Wuhan City, Hubei Province, China has started to revive the real estate market by allowing even homeowners to purchase additional homes.
As travel between China and Hong Kong has fully resumed, expectations for a “reopening (reopening of the economy)” have also grown stronger.
On this day, the yuan was depreciated.
On the morning of this day, the People’s Bank of China announced the standard exchange rate for dollar-yuan transactions at 6.7967 yuan, up 0.0230 yuan (0.34%) from the battlefield.
Internet software and services and various financial services rose the most in the Shanghai index, while media and electrical equipment rose the most in the Shenzhen index.
On the other hand, hotels, software and beverage-related stocks declined.
Meanwhile, on the same day, the People’s Bank of China bought 7-day reverse repurchase agreements (reverse repo) worth 393 billion yuan.
◇ Hong Kong = The Hong Kong stock market rose on expectations of capital inflows from mainland China.
The Hang Seng Index finished trading at 21,298.70, up 76.54P (0.36%) from the battlefield, and H stock closed at 7,232.25, up 42.88P (0.60%) from the previous day.
The Hong Kong stock market fell for the past three trading days. This raised expectations that mainland Chinese funds could flow in to buy at a lower price.
The day before, mainland investors net bought the Hong Kong stock market. Mainland investors have been net selling on the Hong Kong stock market since the 30th of last month, right after the Lunar New Year holiday.
Goldman Sachs lowered the odds of a U.S. recession in the next 12 months from 35% to 25%. Expectations for rapid economic growth in China were also cited as the background.
“Investor sentiment is quite positive with signs of economic recovery in China,” said Kenny Won, head of investment strategy at KGI Asia.
By sector, the energy and IT sectors were strong, while the real estate and utilities sectors were weak.
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This article was served at 17:22, 2 hours earlier on the Infomax financial information terminal.
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