Hong Kong’s Hang Seng followed China’s lead today. The index gained 0.38% to end at 27,390.81. Yesterday, however, the index diverged from the mainland indexes. While mainland indexes gained on May 27, the Hang Seng ended 0.24% lower. On Friday, May 24, the Hong-Kong-focused iShares MSCI Hong Kong ETF (EWH) ended flat, outperforming the iShares MSCI China ETF (MCHI), which lost 0.58%.
South Korea’s KOSPI recovers marginally
South Korea’s KOSPI gained 0.23% today to recover from yesterday’s marginal loss. So far, the index has risen by 38 cents this year. On the economic front, the Bank of Korea published consumer confidence data for May. The Consumer Confidence Sentiment Index for May saw a 3.7-point decline over April and came in at 97.9, the lowest since February. The index was also lower than analyst expectations of 103. There was a decline in all the parameters including the current standard of living, expected living standards, expected household income, perception of domestic economic conditions, and prospective employment opportunities among other things.
Taiwan’s TSEC falls
Taiwan’s TSEC Weighted Index fell by 0.21% today after rising for the last two sessions. The iShares MSCI Taiwan Capped ETF (EWT) gained 0.37% on Friday. None of the ETFs traded on Monday as the US markets were closed on account of Memorial Day.