{"id":44244,"date":"2023-12-08T21:39:15","date_gmt":"2023-12-08T21:39:15","guid":{"rendered":"https:\/\/histarmar.net\/?p=44244"},"modified":"2023-12-08T21:39:15","modified_gmt":"2023-12-08T21:39:15","slug":"asian-equities-worry-over-china-amid-growing-fed-rate-cut-hopes","status":"publish","type":"post","link":"https:\/\/histarmar.net\/business\/asian-equities-worry-over-china-amid-growing-fed-rate-cut-hopes\/","title":{"rendered":"Asian Equities Worry Over China Amid Growing Fed Rate Cut Hopes"},"content":{"rendered":"
Equity markets<\/span> in Asia closed on a mixed note on Monday amidst sentiment driven both by concerns about China as well as the growing Fed rate cut expectations. A labor market update from the U.S. as well as inflation data from China due in the week added to the anxiety and uncertainty.<\/p>\n China’s Shanghai Composite Index slipped 0.3 percent to finish trading at 3,022.91. The day’s trading ranged between 3,038.98 and 3,022.35. The Shenzhen Component Index lost 0.6 percent to close at 9,660.44.<\/p>\n The Japanese benchmark Nikkei 225 Index fell or 0.6 percent to end trading at 33,231.27. The day’s trading range was between 33,324.38 and 33,023.04.<\/p>\n Trend Micro was the top gainer with a surge of 4.5 percent. Transportation business<\/span> Kawasaki Kisen Kaisha and banking services business Credit Saison both gained more than 3 percent. Media business Toho added 2.9 percent, followed by Chugai Pharmaceutical that added 2.2 percent.<\/p>\n Mazda Motor plunged 3.6 percent. Mitsubishi Motors Corp., CyberAgent, Denso Corp. and Nissan Motor all declined more than 3 percent.<\/p>\n The Hang Seng Index of the Hong Kong Stock Exchange shed 1.1 percent from the previous close to finish trading at 16,646.05. The day’s trading range was between a high of 16,941.91 and a low of 16,617.03.<\/p>\n Korean Stock Exchange’s Kospi Index added 0.4 percent to close trading at 2,514.95. The day’s trading range was between 2,510.52 and 2,525.63.<\/p>\n Australia’s S&P\/ASX200 closed trading at 7,124.70, adding 0.7 percent amidst anxiety ahead of the Reserve Bank of Australia’s impending interest rate decision. The day’s trading range was between 7073.20 and 7,167.60.<\/p>\n Chalice Mining jumped 11.5 percent. Resorts business The Star Entertainment Group and Genesis Minerals both gained more than 6 percent. Bellevue Gold added 5.5 percent, followed by Alumina that rallied 4.9 percent.<\/p>\n Sayona Mining plunged 9.7 percent. Core Lithium also lost 5.6 percent. Healthcare business Healius dropped more than 4 percent, followed by Origin Energy and mining business IGO that both lost more than 3 percent.<\/p>\n The NZX 50 Index of the New Zealand Stock Exchange closed slightly lower at 11,367.81 versus the previous close of 11,367.51. Trading ranged between 11,311.02 and 11,396.70.<\/p>\n Software business Vista Group International surged 5.8 percent. A2 Milk Company and financial services business Heartland Group both rallied more than 3 percent. Software businesses Serko and EROAD both added more than 2 percent.<\/p>\n Synlait Milk slumped more than 6 percent. Oceania Healthcare declined 4.2 percent. Agribusiness Scales Corporation, Sky Network Television and Vital Healthcare Property Trust all declined more than 2 percent.<\/p>\n Wall Street closed on a positive note on Friday amidst renewed rate cut expectations and Fed Chair Jerome Powell’s comments that inflation was moving in the right direction. Nasdaq Composite gained 0.6 percent to close at 14,305.03 whereas the Dow Jones Industrial Average climbed 0.8 percent to finish trading at 36,245.50. <\/p>\n