Regional Rally: Nikkei 225 and KOSPI Soar as Taiwan and JAKOTA Indices Show Solid Gains
Japan (Nikkei 225 Index – NIK): Japanese shares soared, with the Nikkei 225 Index gaining a substantial 2.4%, closing at 32,708.48. The robust performance in Japan contributed to the positive sentiment in the region.
South Korea (KOSPI Composite Index): The KOSPI Composite Index of South Korean stocks saw a remarkable increase of 5.7%, reaching 2,502.37. The strong momentum in South Korea’s market added buoyancy to the overall Asia-Pacific landscape.
Taiwan (TWSE Index): Taiwan’s stock market experienced a modest uptick, with the TWSE closing at 16,649.36, reflecting a gain of 0.86%. The market in Taiwan contributed to the overall positive trend in the region.
Major blue-chip stocks exhibited strength as the JAKOTA Blue Chip 150 Index increased by 1.59% to 112.17 USD, contributing to the overall market equilibrium.
JAKOTA Mid and Small Cap 2000 Index demonstrated positive market dynamics, rising by 1.66% to 107.12 USD. This indicated favorable conditions for mid and small-cap stocks in the regional market.
Top Gainers:
- Ecopro BM (247540.KQ) emerged as a top gainer, posting a significant gain of 30.51% to 221.37 USD. Ecopro Company held a General Meeting on Monday and presented its results leading to positive sentiment among investors.
- Ecopro (086520.KQ) demonstrated robust growth, with a gain of 30.49% to 613.03 USD. The company’s positive movement reflected market dynamics after Ecopro Parent company presented its results during the General Meeting as well as a Report on the mass holding situation of stocks.
- Kumyang (001570.KO) showcased notable growth, posting a gain of 30.48% to 88.62 USD. The company announced last week their plans to propose a change in the Articles of Incorporation to increase the issuance limit of convertible bonds and new shareholder acquisition rights bonds at the extraordinary shareholders’ general meeting to be held on the 14th of next month.
- POSCO Chemical (003670.KO) recorded a substantial gain of 30.43% to 258.76 USD. Investors closely monitored the company’s performance after the Q3 results were published on October 24th and the company achieved A Grad in ESG Evaluation later on October 27th leading to a positive performance throughout the upcoming weeks.
- Ecopro HN (383310.KQ) rounded out the top gainers with a gain of 29.24% to 58.71 USD. The company’s positive performance added to the overall upbeat sentiment in the market, after its parent company held a general meeting.
Top Losers:
- K Line (9107.TSE) faced headwinds, registering a significant decline of 11.3% to 32.57 USD. On November 2nd KLine released its Financial Highlights for Q2 FY 2023. “Japan’s third largest shipping company — reported an 88.8% fall in profits in the first half of this financial year” – according to TradeWinds. Today the company also published a Notice of occurrence of Non-Operating Income by dividends income.
- Yamada Holdings (9831.TSE) witnessed a notable downturn, experiencing a loss of 10.22% to 2.97 USD. The company’s performance reflected challenges impacting its shares after publishing the 2nd quarter of the fiscal year ending March 2024 Financial Results Briefing Materials as well as October Monthly Bulletin.
- Qol Holdings (3034.TSE) encountered challenges, recording a loss of 9.1% to 10.6 USD. Investors monitored the company’s performance after on November 2nd the Consolidated Financial Results for the Six Months Ended September 30, 2023 were released.
- Peptron (087010.KQ) faced a decline of 7.87% to 20.66 USD.
- Nissui (1332.TSE) rounded out the list of top losers with a loss of 7.66% to 4.66 USD. The company’s Consolidated Financial Report for the 2nd Quarter of the Fiscal Year 2023 (April 1, 2023, through September 30,2023) affected the stock price significantly.
