Most Asia markets ended higher Wednesday as sharp overnight gains for gold and crude-oil prices spurred resource stocks, although Hong Kong and Chinese shares fell on profit-taking after recent advances and ahead of key global economic events.
Japan’s Nikkei 225 Index gained 37.58 points, or 0.4%, to close the session at 9,104.17
The Hang Seng Index in Hong Kong faltered 25.78 points, or 0.1%, to 19,709.75
The day’s performance came after U.S. stocks rose Tuesday in a shortened trading session ahead of the July 4 holiday, helped by a surprise lift in factory orders. Analysts noted caution ahead of Thursday’s interest rate decisions by the European Central Bank and the Bank of England, followed by the key U.S. non-farm payrolls data on Friday.
Shares of Inpex Corp. climbed 2.9% and Japan Petroleum Exploration Co. rose 3% in Tokyo; Oil Search Ltd. gained 2.1% in Sydney.
Resource-linked shares also drove gains across Asia after strong buying interest in commodities overnight.
In Hong Kong, China Coal Energy Ltd. surged 4.8% and Jiangxi Copper Co. added 1.6%, BHP Billiton Ltd. gained 2.1% in Sydney, and commodities trading house Itochu Corp. climbed 2.1% in Tokyo.
Gold producers were well-supported as expectations of fresh stimulus measures by global central banks boosted gold futures on Tuesday.
Sydney-listed Newcrest Mining Ltd. climbed 3.5%, while Zijin Mining Group Co. rose 2.3% in Hong Kong and 0.5% in Shanghai.
The European Central Bank is expected to reduce interest rates when it meets Thursday, while soft U.S. manufacturing activity earlier this week stirred speculation that the Federal Reserve would consider launching fresh easing measures.
CHINA
Losses for some property and automobile shares dragged mainland Chinese bourses, after the Shanghai Composite rose in each of the previous three trading days. The fall came amid fresh signs of weakness in the domestic economy, as China’s services industry activity cooled to levels bordering on stagnation
Shanghai’s CSI 300 index slid 3.80 points, or 0.2%, to 2,464.92
Gemdale Corp. dropped 2.8% and Anhui Jianghuai Automobile Co. declined 1.2% in Shanghai; in Shenzhen, Oceanwide Real Estate Group Co. tumbled 3.1% and FAW Car Co. shed 0.7%.
In other markets
Korea’s Kospi Index gained 6.63 points, or 0.4%, to 1,874.45
Singapore's Straits Times Index added 3.34 points, or 0.1%, to 2,948.77
Taiwan’s Taiex Index grew 4.23 points, or 0.1%, to 7,422.59
New Zealand’s NZX index grew 38.48 points, or 1.1%, to 3,483.12
Australia’s ASX Index surged 44.94 points, or 1.1%, to 4,172.16
