JAKOTA Markets Navigate Turbulence: Nikkei, KOSPI Decline While Taiwan Shows Grit, JAKOTA Indices Retreat
Japan’s Nikkei 225 Index (NIK) weakened by 1.3%, closing at 32,271.82. Despite challenges, Japanese stocks grappled with market pressures.
South Korea’s KOSPI Composite Index (180721) experienced a notable decline of 2.3%, settling at 2,443.96. The South Korean market encountered headwinds, impacting various sectors.
Taiwan Stock Exchange Weighted Index (TWSE) saw a modest uptick of 0.21%, reaching 16,684.95. Taiwan’s market displayed resilience amid broader regional fluctuations.
JAKOTA Blue Chip 150 Index dropped to 111.40 USD, marking a decrease of 1.45%. Major blue-chip stocks showed a decline, contributing to the overall market equilibrium.
JAKOTA Mid and Small Cap 2000 Index also declined to 106.22 USD, reflecting a decrease of 1.43%. Mid and small-cap stocks faced challenges in the regional market.
Top Gainers:
- Meiko Electronics (6787.TSE): The company’s stock surged by 19.49% to 27.57 USD, indicating robust market momentum. Investors responded positively to Meiko Electronics’ recent financial results announcement as well as a surplus dividend.
- Cosmecca Korea (241710.KQ): With an increase of 15.51% to 28.28 USD, Cosmecca Korea demonstrated strong growth. Market sentiment favored the company’s position in the cosmetic industry after the 3rd Quarter 2023 IR Book was published.
- Peptron (087010.KQ): Experiencing a temporary decline in stock prices yesterday, concerns arose among shareholders. However, the market dynamics have taken a positive turn today, with a significant 11.37% gain, bringing the stock value to $22.91 USD. Investors are now witnessing a notable rebound in Peptron’s performance. The surge in stock value can be attributed to a reassuring announcement addressing the recent dip. Peptron management released a statement dismissing unfounded rumors and shedding light on significant developments in their pipeline.
- Gala (4777.TSE): Gala’s stock rose by 10.41% to 2.26 USD, showcasing resilience in the market.
- Topy Industries (7231.TSE): With a gain of 10.21% to 18.58 USD, Topy Industries exhibited strength. The company published today the Summary of financial results for the second quarter of the fiscal year ending March 31, 2024 as well as a Notice regarding the difference between the second quarter performance forecast and actual value and the revision of the dividend forecast (dividend increase).
Top Losers:
- L&F (066970.KQ): L&F faced headwinds, registering a significant decline of 14.96% to 117.72 USD. Investors closely watched the company’s performance amid poor performance reflected in 2023 3rd quarter performance briefing material.
- ISU Specialty Chemical (457190.KO): With a decrease of 14.46% to 107.94 USD, ISU Specialty Chemical encountered challenges. Market dynamics impacted the company’s shares.
- Shinsung Delta Tech (065350.KQ): The stock declined by 12.39% to 24.59 USD, reflecting market complexities. Investors monitored Shinsung Delta Tech’s performance amid broader industry trends.
- POSCO Chemical (003670.KO): POSCO Chemical recorded a loss of 10.67% to 230.26 USD. The company faced challenges despite its prominent position in the chemical sector.
- POSCO (005490.KO): With a similar decline of 10.67% to 343.91 USD, POSCO’s performance added to the complexities of trading in the metals and steel industry.
