FINWIRES · TerminalLIVE
FINWIRES

Middle East War Uncertainty Caps Asian Stock Markets

-- Asian stock markets largely fell back Thursday, as traders looked for clarity on the status of the Strait of Hormuz and the Persian Gulf war.

Hong Kong, Shanghai, and Tokyo finished in the red, while other regional exchanges were mixed.

In Japan, the Nikkei 225 opened evenly but declined in trading, finishing off 0.7% as traders booked profits after Wednesday's rally following reports of a Middle East ceasefire.

The benchmark Nikkei 225 fell 413.10 to 55,895.32, as losing issues outnumbered gainers 169 to 54.

Leading the upside was Yokogawa Electric, up 4.1%, while retail conglomerate Aeon declined 8.2%.

In economic news, Japan's seasonally adjusted Consumer Confidence Index declined to 33.3 in March, down from 39.7 in February, reported the Cabinet Office.

Japan's machine tool orders jumped by 28.1% year-on-year in March, driven by a 40.4% surge in offshore demand, reported the Japan Machine Tool Builders Association.

In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 0.5% on ebbing optimism regarding Middle East negotiations.

The broad gauge Hang Seng fell 140.62 to 25,752.40 as losing issues outnumbered gainers 53 to 36. The Hang Seng TECH Index lost 2.1% on the day, while the Mainland Properties Index fell 0.3%.

Leading the upside was aluminum producer China Hongqiao, gaining 5.2%, while property company Longfor declined 5.6%.

On the mainland, the Shanghai Composite fell 0.7% to 3,966.17.

On the other regional exchanges, the South Korean KOSPI fell 1.6%; the Taiwan TWSE rose 0.3%; the Australian ASX 200 gained 0.2%; the Singapore Straits Times Index fell 0.4%, and the Thai Set inclined 0.3%. In late trading in Mumbai, the Sensex was down 1.2%.

The MSCI All Country Asia Pacific Index fell 0.9% on the day.

Related Articles

Australia

ON Semiconductor Shares Rise After Upgrade From B. Riley

ON Semiconductor (ON) shares were up nearly 11% in afternoon trading on Thursday after B. Riley upgraded the company's stock to buy from neutral and raised the price target to $115 from $64.Trading volume stood at more than 14.9 million shares against a daily average of about 8.8 million.Price: $98.57, Change: $+9.58, Percent Change: +10.76%

$ON
Australia

Update: PENN Entertainment Shares Rise After Q1 Results Beat

(Updates with the latest stock move in the headline and in the first paragraph.)PENN Entertainment (PENN) shares were up over 15% in Thursday trading after the company reported better-than-expected Q1 performance.Earlier, the firm posted an adjusted earnings of $0.11 per diluted share, swinging from an adjusted loss of $0.25 a year ago.Analysts polled by FactSet expected a loss of $0.04.Revenue for the quarter ended March 31 was $1.78 billion, up from $1.67 billion a year earlier.Analysts surveyed by FactSet expected $1.75 billion.Price: $17.12, Change: $+2.35, Percent Change: +15.88%

$PENN
Australia

Market Chatter: Chevron Resumes Full Production at Australia's Wheatstone LNG Facility

Chevron (CVX) resumed full production at its Wheatstone liquefied natural gas facility in Western Australia after repairs from damage caused by a cyclone last month, Reuters reported Wednesday evening, citing the oil major.In March, extreme winds brought by the tropical cyclone Narelle damaged several hundred air-cooled heat exchangers, Danny Woodall, Chevron's director of operations and maintenance for Australia, was quoted as saying by Reuters.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $187.80, Change: $+1.48, Percent Change: +0.79%

$CVX