empty
20.07.2022 02:43 PM
Major Asian stocks rise by 0.58-2.39%

This image is no longer relevant

Major Asian stocks advanced by 0.58-2.39%. China's Shanghai Composite and Shenzhen Composite indexes gained the least, i.e. 0.67% and 0.58% respectively, while Korea's KOSPI added slightly more, i.e. 0.70%. Meanwhile, other regional indexes rose more than 1%: Australia's S&P/ASX 200 index increased by 1.56% and Hong Kong's Hang Seng Index went up 1.82%. Japan's Nikkei 225 was the top gainer, it added 2.39%.

As usual, Asia-Pacific stock indexes followed the US indexes in their dynamics. Therefore, the US indexes had risen by 2.4-3.1% on Tuesday due to positive corporate reports of the companies for the second quarter. Most experts issued rather weak forecasts on the companies' outcomes for the second quarter. However, their outcomes exceeded expectations, which supported the markets.

At the same time, concerns about a possible economic slowdown are still growing, despite the rise in stock prices and indexes.

China's central bank did not change the benchmark interest rate, it remained at 3.70% per annum for 1-year loans and at 4.45% per annum for 5-year loans. The central regulator also allocated 3 billion yuan, equivalent to 444.9 million US dollars, for reverse repo operations to support the economy.

Techtronic Industries Co. Ltd., Haidilao International Holding Ltd., Netease Inc. and Meituan were the top gainers among Chinese companies. They surged by 4.1%, 7.2%, 3.8%, and 3.0% respectively.

SenseTime Group Inc. stocks jumped by 11% due to their repurchase after their first offering by the company on the stock exchange.

Shares of Dentsu Group Inc., Minebea Mitsumi Inc., Advantest Corp., and Tokyo Electron Ltd. are major gainers among components of the Nikkei 225 index. They added 6.2%, 5%, 4.8%, 4.7% respectively.

Shares of major South Korean company LG Electronics Inc. rose by 1.3%, while the stocks of Samsung Electronics Co. dropped by 0.7%.

Megaport Ltd. stocks soared by 23% on strong reports for the second quarter.

The news about the appointment of a new CEO at Magellan Financial Group Ltd was the reason for an increase of its shares by 7%.

According to the report of the Reserve Bank of Australia Chairman, inflation is likely to increase in the second quarter. Therefore, special measures should be taken to achieve the target of 2-3%. In the first quarter, the country's consumer prices rose by 5.10% year-on-year. Official data for the second quarter will be released next week. The Reserve Bank of Australia Chairman also announced a possible future interest rate increase to 2.50% from the current level of 1.35%.

Anastasia Kravtsova,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Market at crossroads: falling Dow Transports and rising Europe

The Dow Jones Transportation Average has dropped more than 17% from its November peak. Meanwhile, European equities are climbing ahead of upcoming business activity surveys. Next week brings key reports

12:39 2025-03-24 UTC+2

Financial wars: oil, gas, and sanctions in great power game

In the world of finance, every day is a battle for market dominance. Just as traders celebrate rising prices, the tides can turn in an instant. On Friday, natural

Natalia Andreeva 12:39 2025-03-24 UTC+2

US Market News Digest for March 24

Investor frustration with the Trump administration's trade approach has triggered capital flight and negatively impacted the S&P 500. Hopes for more lenient tariff action briefly lifted market sentiment

Ekaterina Kiseleva 11:21 2025-03-24 UTC+2

Falling Dow Transports, Gaining Europe: Market at Crossroads

While the broader US stock market is showing signs of recovery, a warning light for investors is still flashing as the Dow Jones Transports signals growing concerns about the health

Thomas Frank 10:49 2025-03-24 UTC+2

US Market News Digest for March 21

US stock market in limbo despite positive economic data such as unexpected growth in existing home sales On Thursday, US benchmark stock indices closed in the red: the Dow Jones

Natalia Andreeva 14:48 2025-03-21 UTC+2

Fed's actions to keep BTC from falling? BTC seeks stability

Some analysts believe that the Federal Reserve's current monetary policy—particularly its decision to hold interest rates steady and slow down quantitative tightening (QT)—could provide meaningful support for Bitcoin. According

Larisa Kolesnikova 13:11 2025-03-21 UTC+2

Nasdaq and S&P 500 Fall: Correction Begins or Temporary Panic?

Weekly Jobless Claims Rise to 223,000 Accenture Falls After Fed Contract Cancellation Report PBOC, BoE, Riksbank Hold Rates, Switzerland Cuts Darden Restaurants Rises After Earnings and Guidance Gold Falls From

Thomas Frank 10:11 2025-03-21 UTC+2

US Market News Digest for March 20

Although the S&P 500 shows optimism, its growth since March 14 has been viewed as more of a correction. A move toward the target range of 5,881–5,910 becomes more likely

Ekaterina Kiseleva 11:26 2025-03-20 UTC+2

Gold on Fire: Ounce Breaks $3,057, Indexes Also Up

Fed Leaves Rates Unchanged, As Expected Central Bank to Reduce Balance Shelf Life Powell Signals Impact of Tariffs Is Difficult to Determine Gold Hits Record High of $3,057.21 an Ounce

Thomas Frank 10:26 2025-03-20 UTC+2

US Market News Digest for March 19

Nvidia, which should have been celebrating the start of its annual developer conference, saw its shares fall instead. Tesla, still reeling from Elon Musk's latest adventures, took a hit from

Natalia Andreeva 10:52 2025-03-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.