Monday saw the Nikkei index in Tokyo close marginally higher than the day’s starting level. Most markets lacked lustre due to US markets being closed for the Memorial Day holiday. The Hang Seng in Hong Kong and Kospi in South Korea fell back with worries over the US economy. The Weighted index in Taiwan managed a small gain for the day. Markets in Malaysia, Singapore and Thailand were closed for a public holiday.
Tuesday saw the Nikkei in Tokyo close lower, again investors were nervous for US markets reopening. Hong Kong and Seoul markets appeared more confident today and managed to close in the black. The Weighted index in Taiwan reversed yesterday’s gains and closed lower, as did the Straits Times in Singapore. The Australian All Ordinaries index closed the day at its starting level but small gains were seen from New Zealand on the NZ Top 40 index.
Wednesday saw the Nikkei in Tokyo close lower again following worse than expected industrial data from the US. Indices in Seoul, Hong Kong, Singapore and Taiwan all closed in the red today amidst weaker consumer confidence figures from the US. Due to a gold rush, Australian and New Zealand markets gained.
Thursday was another day in the red for Tokyo, on the back of the US southwards slide. News was much the same in Hong Kong, Singapore and Seoul. Investors went for a buying spree in Taiwan and managed to push the index higher. Both New Zealand and Australian markets ended higher.
Friday saw export shares in Japan fall on the back of a strong Yen against the Dollar. Major losses were offset with gains from other sectors leaving the Nikkei just short of its starting level. In South Korea markets headed south, despite the excitement over the World Cup. Concerns over the US recovery have been blamed. Elsewhere, the Hang Seng in Hong Kong fell, as did the Weighted index in Taiwan. Markets in Australia closed down slightly with New Zealand’s NZ Top 40 ending flat.