All data are based on the daily closing price as of May 23, 2024
JAKOTA Stocks on October 16, 2023
DAILY MARKET WRAP

JAKOTA Stocks on October 16, 2023

Japan
South Korea
Taiwan
f 6482.TWO r 7453.TSE s 6736.TSE a 6785.TWO b 2936.TSE p 378340.KQ k 2930.TSE v 338220.KQ y 4334.TSE
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Markets in Japan, South Korea, and Taiwan faced headwinds, reflecting investor unease amid shifting dynamics in the Asia-Pacific region.

Market Challenges in Asia-Pacific: Japan and South Korea Grapple With Declines

Japan (Nikkei 225 Index – NIK): Japan’s market faced a notable setback as the Nikkei 225 Index dropped by 2.0%, closing at 31,659.03. The decline highlighted challenges in the Japanese market, impacting investor sentiment.

South Korea (KOSPI Composite Index – 180721): South Korean stocks experienced a decline, with the KOSPI Composite Index weakening by 0.8% to close at 2,436.24. Investors in South Korea navigated the market amid varying dynamics. 

Taiwan (TWSE Index): Taiwan’s TWSE index encountered a modest decline, closing at 16,652.24 with a decrease of 0.78%. The market movements on October 16, 2023, showcased the resilience of Taiwan’s stocks amid regional fluctuations.

Top Gainers:

  • Jesco Holdings Inc (1434.TSE): Jesco Holdings Inc emerged as a top performer, surging impressively by 17.54% to reach 670 JPY.  The robust performance is attributed to the release of the Financial Results for 2023 on Friday.
  • Fun Yours Technology Co Ltd (6482.TWO): Fun Yours Technology Co Ltd displayed strength, posting a significant gain of 9.94% and reaching 49.2 TWD. The company’s positive momentum resonated in the market.
  • Ryohin Keikaku Co (7453.TSE): Ryohin Keikaku Co experienced a notable increase, recording a gain of 8.91% and closing at 1974 JPY. The positive movement contributed to the announcement of Final Dividend for the Fiscal Year Ended August 31, 2023, Payable on November 24, 2023; Provides Dividend Guidance for Second Quarter and Fiscal Year Ending August 31, 2024 as well as Fiscal Year Ending 2024 Financial Results.
  • Sun Corporation (6736.TSE): Sun Corp demonstrated resilience, with a robust gain of 8.01% to reach 2050 JPY. The company’s positive trajectory added to the overall good forecasts after the publication of Fiscal Year Ending 2024 Results last week.
  • ALAR Pharmaceuticals Inc (6785.TWO): ALAR Pharmaceuticals Inc secured a gain of 7.07%, closing at 219.5 TWD. The company’s positive performance resonated in the Asia-Pacific market after the announcement that Indivior Enters an Exclusive Licensing Agreement with Alar Pharmaceuticals.

Top Losers:

  • Base Food Inc. (2936.TSE): Base Food Inc. faced a significant setback, registering a notable decline of 15.47% and closing at 645 JPY. The decline marked a challenging day for the company following the revision of Full Year Earnings Forecast, HY 2023 Results. The coverup story: “The cumulative sales of fully nutritious bread “BASE BREAD” in Hong Kong has exceeded 200,000 bags!” –  didn’t help to improve performance
  • Philenergy (378340.KQ): Philenergy encountered a downturn, facing a substantial loss of 13.94% and closing at 25,000 KRW. The company’s shares reflected the challenges in the market.
  • Kitanotatsujin Corp (2930.TSE): Kitanotatsujin Corp struggled, recording a decline of 12.12% and closing at 203 JPY. The company faced headwinds in the market after announcing its HY 2023 results.
  • VUNO (338220.KQ): VUNO experienced a notable loss of 9.96%, closing at 31,650 KRW. The company’s shares reflected the nuanced market conditions.
  • Yuke’s Co Ltd (4334.TSE): Yuke’s Co Ltd rounded out the list of top losers, facing a loss of 9.76% and closing at 1,257 JPY. The company’s performance attracted attention amid market challenges.

Stay tuned for further updates and analysis as market conditions continue to evolve.

 

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