Asian stock markets were mostly higher in early trading Wednesday. The gains followed solid advances in Europe overnight as well as for the Dow and S&P. But S&P 500 futures
ESU8, -0.19%
were down 0.2% in Asia, perhaps signaling things may not be bright again in the U.S. for Wednesday’s trading.
Japan’s Nikkei
NIK, +0.46%
edged up 0.4%, as steel makers JFE Holdings
5411, +3.50%
and Nisshin Steel
5413, +2.73%
rallied. While most automakers gained, Mitsubishi Motors
7211, -3.77%
sank despite beating earnings expectations Tuesday.
After falling early, Chinese stocks rallied into positive territory. The Shanghai Composite
SHCOMP, +0.09%
, after notching its best three-day streak in more than two years, and the Shenzhen Composite
399106, +0.16%
each were up about 0.1%. Bank and infrastructure stocks, Tuesday’s big gainers, remained active while Facebook-related plays logged gains as the company announced a China unit.
Meanwhile, vaccine maker Kangtai
300601, -8.74%
was down 9%, and shares in medical peer Changsheng
002680, -9.96%
were halted after seven straight days of steep losses amid the a rabies vaccine scandal.
Hong Kong stocks continued their run of strong gains, as the Hang Seng
HSI, +0.80%
climbed 0.7%. Financials were again solid, with China Construction Bank
0939, +0.84%
rising 1%. Elsewhere, Tencent
0700, +0.64%
was up similarly and Sinopec
0386, +2.77%
jumped 2.6%.
South Korea’s Kospi
SEU, -0.14%
dipped slightly, as did indexes in Taiwan
Y9999, -0.33%
and Australia
XJO, -0.36%
, while indexes in Singapore
STI, +0.83%
and New Zealand
NZ50GR, +0.36%
posted modest gains.
Source : MTV
