Most Asian stocks close higher, with Shanghai and Tokyo showing gains

Asian stock markets registered gains mostly, this Monday (22) with a positive picture in Tokyo and Shanghai. In Hong Kong and Taiwan, however, the sign was negative.

On the Tokyo Stock Exchange, the Nikkei index closed up 0.09%, at 29,774.11 points, helped by shares of shipping companies, with expectations of strong demand in the logistics sector. Mitsui OSK Lines rose 3.2%, Nippon Yusen rose 4.0% and Kawasaki Kisen Kaisha rose 4.2%.

Japan-China relations are in focus after the Japanese foreign minister said on Sunday that the Japanese-China minister had invited him on an official visit.

In China, the Shanghai Stock Exchange closed with a gain of 0.61%, at 3,582.08 points, and the Shenzhen, with a smaller scope, rose 1.42%, to 2,642.90 points. Automakers were among the highlights and Jefferies comments that the fact that the country should take longer to tighten its monetary policy supports the demand for local actions.

In Hong Kong, the Hang Seng index retreated 0.39% to 24,951.34 points. HSBC’s shares traded there dropped 0.50% and China Resources Power dropped 0.28%.

In South Korea, the Kospi index rose 1.42% in Seoul, to 3,013.25 points. Automakers also fared well in the local market, with semiconductor companies also showing gains. Samsung Electronics rose 5.2% and microchip maker Hynix rose 7.2%. Among automakers, Hyundai Motor and Kia rose 4.3% and 2.3%, respectively.

In Taiwan, the Taiex index went against the majority and fell 0.08% to 17,803.54 points, after fluctuating between gains and losses during the day.

Oceania

In Oceania, the S&P/ASX 200 index closed down 0.59%, at 7353.10 points, on the Sydney Stock Exchange. Banking actions pressured the Australian market amid concerns about the impact of new waves of Covid-19 and consequent restrictions on the global economy. Papers linked to travel and the technology sector also declined.