• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Friday, May 30, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Global Markets Asian Stock Markets

Asian Markets Mostly Flat; KOSPI Drops over 1% at 2,958.12

Trading Room Reporter by Trading Room Reporter
in Asian Stock Markets
Reading Time: 2 mins read
A A
0
Asian Markets Shenzhen

The Shenzhen Stock Exchange building, Exchange center. [Photo/File]

Share on FacebookShare on Twitter

Asia-Pacific markets traded mixed as stocks in Australia, Japan and South Korea struggled to hold onto earlier gains. Investors overnight returned to risky assets, confident that a massive U.S. stimulus package will soon be approved.

RELATED POSTS

Asian Markets Gain as Yuan Falls to Lowest in 17 Years

Asian Stocks Plummet as China Hits Back on Trump’s Tarrifs

Asian Markets Crash as China Announces Retaliatory Tariffs

The Nikkei 225 gave up early gains to close near flat at 29,036.56 and the Topix index rose 0.11% to end at 1,919.74. South Korea’s Kospi pulled back gains of more than 1% aftermarket open and finished lower by 0.6%, or down 18 points at 2,958.12 while the Kosdaq fell 0.7%, or 6.29 points, to 890.07.

In Australia, the benchmark ASX 200 could not sustain early gains and finished down 0.84%, or 57.10 points, at 6,714.1. The energy sector tumbled 2.98% as oil prices remained under pressure, while the heavily-weighted financials subindex and the materials index declined 1.25% and 2.51%, respectively.

 

Asian ASX
ASX 200 One year performance chart

Chinese mainland shares were mixed: The Shanghai composite finished near flat at 3,357.74 while the Shenzhen component rose 0.65%, or 87.62 points, to 13,563.34. In Hong Kong, the Hang Seng index rose 0.35% in late-afternoon trade while shares in Indonesia, Malaysia and India traded higher.

The session in Asia-Pacific followed an overnight session on Wall Street where bond yields declined and tech stocks staged a comeback — the Nasdaq Composite climbed 3.7% to post its best day since November.

“Global equities pushed higher as risk appetite returned,” according to a Wednesday morning note from analysts at ANZ Research. “Investor confidence was buoyed by expectations that (U.S. President Joe) Biden’s USD1.9trn fiscal stimulus package will soon be approved.”

Buy JNews
ADVERTISEMENT

Democrats in the U.S. House of Representatives are aiming to pass the $1.9 trillion coronavirus relief bill on Wednesday so that Biden can sign it by the weekend. The legislation extends a $300 per week jobless benefit boost and programs expanding unemployment aid to millions more Americans through Sept. 6.

Asian Markets Currencies & Oil

In the currency market, the U.S. dollar rose 0.18% to 92.129 against a basket of its peers, but it stayed off from levels around 92.503 reached in the previous session.

The Japanese yen changed hands at 108.80 per dollar, weakening from a previous level around 108.45, while the Australian dollar fell below the $0.77 mark, down some 0.32% to $0.7686.

Carol Kong, a currency strategist at the Commonwealth Bank of Australia, said in a morning that outside of short-term downside risks, the bank is bullish on the Australian dollar, predicting it will reach around $0.83 in the third quarter of 2021.

“Australia’s successful virus containment has contributed to its ‘v‑shaped’ economic recovery,” Kong said in the note, adding that with Covid-19 vaccines being rolled out that bounce back could accelerate. That could potentially tighten the labour market earlier than expected.

“As a result, the (Reserve Bank of Australia) may tighten monetary policy before the (U.S. Federal Reserve) which poses upside risks to our AUD/USD forecast profile,” she said.

Elsewhere, oil prices remained under pressure. During Asian trading hours on Wednesday, U.S. crude fell 0.77% to $63.52 while Brent declined 0.87% to $66.93 a barrel. The global benchmark topped the $70 mark earlier this week following reports that Saudi oil facilities were targeted in missile and drone attacks.

Saudi Arabia said there was no significant infrastructure damage which saw oil prices pull back.

Read also; Asian Markets Mixed; Shenzhen Drops 2.8%

Post Views: 954
Tags: ADX AustraliaHang Seng IndexMSCI IndexNikkei N225Shanghai CompositeShenzhen componentspotlight
Previous Post

Nigerian Stock Exchange Receives Approval of Demutualization Plan

Next Post

Kenya Power Records Kes 0.94 Billion Loss for FY2020

Trading Room Reporter

Trading Room Reporter

Related Posts

Global Markets Asian markets
Asian Stock Markets

Asian Markets Gain as Yuan Falls to Lowest in 17 Years

by Githere Eddie
Descriptive image of U.S-China Trade war on Asian Stocks[Photo:File]
Asian Stock Markets

Asian Stocks Plummet as China Hits Back on Trump’s Tarrifs

by Rennie Odek
Asian Markets
Asian Stock Markets

Asian Markets Crash as China Announces Retaliatory Tariffs

by Rennie Odek
Asia-Pacific Markets
Asian Stock Markets

Asia-Pacific Markets Reel as Trump’s Tariffs Sparks Global Trade Fears

by Felix Ochieng
Next Post
electricity

Kenya Power Records Kes 0.94 Billion Loss for FY2020

NSE Nairobi Securities Exchange STOCK MARKET

Market Report; 10 March 2021

AfDB

AfDB Ranked as the World’s Best Multilateral Financial Institution for 2021

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,109)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,201)
  • Hilda Njeru Takes over at CDSC (2,069)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,922)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,808)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

HF Group Plc CEO Robert Kibaara

HF Group Posts Solid Growth as Q1 Pre-tax Profit Soar 112%

Absa Bank Kenya PLC Managing Director, Abdi Mohamed

Absa Bank Kenya Reports KES 6.2 Billion Net Profit in Q1 2025 Amid Market Challenges

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$358.43  0.43%  
GME 
$29.57  5.25%  
MSFT 
$458.68  0.29%  
AAPL 
$199.95  0.23%  
AMC 
$3.42  1.16%  
ABNB 
$128.36  0.24%  
GOOGL 
$171.86  0.29%  
AMZN 
$205.70  0.48%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?