Asian markets trade mostly higher in early deals on Wednesday
Hang Seng surge by 352.22 points 1.37% to 26,032.00
Asian markets traded mostly higher in early deals on Wednesday, on account of rally in technological sector stocks with its global counter partners. Investor confidence was bolstered by strong company results, intense demand for semiconductors, and expectations of increased bank lending in China. The Hang Seng Index experienced significant gains, driven by mainland capital inflows as investors sought to hedge against yuan depreciation and geopolitical trade tensions. Meanwhile, Japan’s Nikkei is closed for trading today for Showa Day.
Hang Seng surged by 352.22 points 1.37% to 26,032.00, Jakarta Composite up by 8.24 points or 0.12% to 7,080.63, KOSPI Index rose by 46.51 points or 0.70% to 6,687.53, and Shanghai Composite increased by 21.90 points or 0.54% to 4,100.54.
On the flip side, Straits Times down by 22.78 points 0.47% to 4,864.91, Taiwan weighted slipped by 155.24 points or 0.39% to 39,366.49, and FTSE Bursa Malaysia KLCI index dipped by 9.20 points or 0.53% to 1,720.40.
