Asian equities ended today’s session in the mixed territory as China lost steam after rebounding in the last sessionAugust 8, 2018
Asian equities ended today’s trading session in the mixed territory with China losing steam after rebounding in the last session, as regional markets took cues from Wall Street’s overnight advance on strong earnings.
Over in the Chinese Mainland, the Shanghai Composite fell by 1.23 percent to close the session at 2,745.11 pressured by across all sectors mainly Healthcare, Technology and Financials sectors. Furthermore, the Shenzhen Composite tumbled 1.50 percent to end the session in the red at 3315.27 Pressured by all sectors.
On the other hand, Hong Kong’s main benchmark Hang Sang rose by 0.39 percent to trade at 28,359.14 at the session’s close, supported by gains in the Healthcare, Energy, Consumer Cyclicals and Technology sectors.
Among individual movers, shares of Galaxy Entertainment Group surged 4.46 percent followed by PetroChina Co Ltd which added 3.23 percent.
Meanwhile, the South Korean benchmark KOSPI rose by 0.06 percent to end the session at 2,301.45 supported by Healthcare and Telecommunications Services sectors.
Furthermore, In the Economic news, the positive sentiment on Wednesday came despite a backdrop of elevated trade tensions after China last week said it was preparing tariffs, ranging from five percent to 25 percent, on $60 billion in U.S. imports. That came after U.S. President Donald Trump asked U.S. Trade Representative Robert Lighthizer to consider increasing proposed duties on $200 billion of Chinese goods to 25 percent.
Japanese Stock Market
Japanese stocks traded lower on today’s session as the primary Japanese index Nikkei fell by 0.1 percent to close in the red at 22,644.31, pressured by Energy, Utilities and Technology sectors.
In stocks news, Nikon Corp surged 9.38 percent followed by Furukawa Electric Co Ltd which rose by 5.28 percent.
On the other hand, Meiji Holdings Co Ltd was the worst performer in the session tumbling 10.39 percent followed by Tokai Carbon Co Ltd which lost more than seven percent, and NTT Data Corp which dropped by 6.01 percent.
In economic news, Economy Minister Toshimitsu Motegi will meet U.S. Trade Representative Robert Lighthizer on Aug. 9 as Tokyo seeks ways to counter U.S. pressure for a free trade agreement and head off a rise in tariffs on its auto exports.
In the currency market, the Japanese Yen fell against the Greenback to trade in the reed at 110.90 USDJPY at 10:00 GMT.
Australian Stock Market
Australian shares higher on Wednesday’s session as the country’s main index S&P/ASX200 rose by 0.23 percent or 14.6 points to end the session in the green at 6,268.50. Supported by Basic Materials, Financials and Energy sectors.
Meanwhile, Mining heavyweights BHP Billiton and Rio Tinto rose 0.95 percent and 0.215 percent, respectively.
Among the big four banks, Commonwealth Bank of Australia surged 2.63 percent on Wednesday. On the other hand, ANZ, Westpac, and National Australian bank all fell between 0.25 and 0.27.
In the Forex Market, the Aussie fell against the Greenback to trade lower at 0.7417 AUDUSD at 10:00 GMT.