Asian Stocks Close On A Positive Note

Asian markets finished trading on a positive note on Wednesday, tracking Wall Street’s overnight gains. A positive surprise on U.K. inflation also supported sentiment.

China’s Shanghai Composite Index edged up less than a tenth of a percent to finish trading at 3,198.84. The day’s trading ranged between 3,181.56 and 3,204.36. The Shenzhen Component Index dropped 40.31 points or 0.4 percent to close at 10,932.65.

The Japanese benchmark Nikkei 225 Index surged 402.14 points or 1.2 percent to end trading at 32,896.03. The day’s trading range was between 32,671.03 and 32,896.03.

Nissan Motor Co. topped gains with a 7.7 percent rally. Kawasaki Kisen Kaisha surged 6.3 percent, followed by Mazda Motor Corp., which spiked 5.6 percent. Kawasaki Heavy Industries and Mitsubishi Heavy Industries both added more than 4 percent. Cyber Agent and Dentsu both declined more than 1 percent.

The Hang Seng Index of the Hong Kong Stock Exchange erased 63.41 points or 0.3 percent from the previous close to finish trading at 18,952.31. The day’s trading range was between a high of 19,004.42 and a low of 18,711.03.

The Korean Stock Exchange’s Kospi Index edged less than a tenth of a percent higher to close trading at 2,608.24. The day’s trading range was between 2,598.52 and 2,622.54.

Australia’s S&P/ASX200 Index closed trading at a new 20-day high of 7,323.70 after gaining 39.90 points or 0.6 percent. The day’s trading range was between 7,283.80 and 7,333.10.

Pharma business Imugene rebounded 12.9 percent. Semiconductor business Brainchip Holdings surged 6.8 percent. Coal business Coronado Global Resources gained 5.5 percent. Syrah Resources, which had plunged 16 percent on Tuesday, recovered 4.7 percent. Ampol also added 4.4 percent.

Gold mining business Northern Star Resources dropped 5.8 percent. Copper miner Sandfire Resources shed 3.4 percent. Mining company Iluka Resources, insurance business Medibank and medical instruments business Ansell all declined more than 2 percent.

The NZX 50 of the New Zealand Stock Exchange added 11.73 points or 0.1 percent to close at 11,944.54. Trading ranged between 11,932.81 and 11,972.41.

Vista Group International topped gains with a 3.3 percent rally. Pacific Edge, Precinct Properties New Zealand, Tourism Holdings, and Fisher & Paykel Healthcare all rose more than 2 percent.

Freightways, Chorus, Port of Tauranga, Meridian Energy and Goodman Property Trust all declined more than 1 percent.

Wall Street closed on a positive note on Tuesday, buoyed by better-than-expected earnings updates from top lenders. The Nasdaq Composite added 0.8 percent to close at 14,353.64, whereas the Dow Jones Industrial Average jumped 1.1 percent to finish trading at 34,951.93.

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