Asian stock markets recorded mostly lows this Thursday (9). Investors evaluated China’s trade balance data and also reports of new restrictions in the country because of Covid-19.
The Tokyo Stock Exchange, however, posted a modest gain, with exporter stocks helped by the yen’s recent weakness.
Tokyo’s Nikkei index closed up 0.04% at 28,246.53 points.
Stocks in automakers and the energy sector offset losses in the technology and shipping sectors. Nissan Motor rose 1.9% and Subaru 2.1%, with recent yen weakness supporting the outlook for profit growth.
In China, the Shanghai Stock Exchange closed down 0.76%, at 3,238.95 points, and the smaller one in Shenzhen, fell 1.81%, at 2,140.22 points.
In addition to the pandemic news, investors evaluated the country’s trade balance data for May, with a surplus of US$ 78.8 billion, well above forecast.
Capital Economics considers that Chinese exports should lose strength again, while Pantheon sees today’s data as a reflection of the reopening after the height of lockdowns by covid-19, but also of the support of policies for Chinese companies.
On the Seoul Stock Exchange, the Kospi index fell by 0.03% to 2,625.44 points. The South Korean square reduced losses throughout the day, ensuring a virtually stable closing.
The picture, however, was negative, with investors evaluating the cut in the global growth forecast for this year made last Wednesday by the Organization for Economic Co-operation and Development (OECD).
In Hong Kong, the Hang Seng index fell 0.66% to 21,869.05 points. In Taiwan, the Taiex index fell 0.29% to 16,621.34 points.
In Oceania, the S&P/ASX 200 closed down 1.42%, at 7,019.70 points, on the Sydney Stock Exchange. In the Australian market, shares in mining, finance and real estate were under pressure.
Source: CNN Brasil