Taiwan stocks lead gains in Asia

Taiwan stocks led the rising wave in the Asia-Pacific market on the trading day of May 18.

Taiwan’s Taiex index closed up 5.16% in trading on May 18. Photo: AFP

Taiwan’s Taiex index rebounded 5.16% to close at 16,145.98 points. Previously, Taiex dropped nearly 3% on the trading day of May 17 because investors were worried about the complicated Covid-19 situation.

In Japan, the Nikkei 225 recorded a strong gain of 2.09% to 28,406.84 points, while the Topix index gained 1.54% to close at 1,907.74 points.

Data released by the Japanese government this morning on May 18 showed that the economy in the first quarter of 2021 shrank by 5.1% over the same period last year. Compared to the previous quarter, Japan’s GDP in the first quarter decreased by 1.3%.

In Hong Kong, the Hang Seng index was up 1.31% in late trading, while mainland China stocks closed mixed, with the Shanghai Composite up 0.32% to 3,529. 01 and the Shenzhen Component dropped slightly to 14,450.60 points.

South Korea’s Kospi index ended the trading day at 3,173.05 points, up more than 1.23%. Green also covered the Australian market with the S&P/ASX 200 index up 0.6% to close at 7,066 points. According to the minutes of the Central Bank of Australia’s May monetary policy meeting released today, the bank’s Board of Directors said the conditions for a rate hike were unlikely to be met “at the earliest for the foreseeable future.” until 2024″.

Collectively, the MSCI Asia-Pacific index (excluding Japan) increased 1.65%.

Regarding the Covid-19 situation, the World Health Organization (WHO) on May 17 warned that the global pandemic is not over yet, although the rate of vaccination against Covid-19 in some countries has reached a high level. . In Asia, Singapore and Taiwan recently saw a resurgence of Covid-19, prompting authorities to tighten measures to prevent the spread of the virus.

In the currency market, the greenback weakened today. The US dollar index against other strong currencies fell to 89.906, from 90.8 recorded last week. The Japanese yen strengthened and changed hands to 108.96 JPY to “eat” USD, after reaching 109.5 JPY/USD yesterday. The Australian dollar also appreciated to 1 AUD to 0.7807 USD, from 1 AUD/0.774 USD last week.

Oil prices traded by Asian time this afternoon went up. Brent oil futures futures rose 0.99% to $70.15/barrel while US crude oil futures also increased 0.97% to $66.91/barrel.