Stocks in Australia and Hong Kong rebounded Thursday from the previous day’s sharp losses, aided by strong monthly trade data from China and some upbeat earnings reports. Japanese shares tumbled in volatile trade amidst a strengthening yen.
Japan’s Nikkei 225 continued its losing streak, falling another 219.38 points, or 1.6%, to 13,605.56
Hong Kong’s Hang Seng Index recovered 67.04 points, or 0.3%, to 21,655.88, after data from China showed both its exports and imports climbed more than expected in July, recovering from the weakness seen in June.
The losses came as the U.S. dollar fell further to slide toward ¥96. Earlier in the day, the Bank of Japan left its policies unchanged, as expected, while saying the domestic economy was "starting to recover moderately."
Among stocks losing ground in Tokyo, Hino Motors Ltd. and Tokyo Electric Power Co. slumped 5% each, Panasonic Corp. lost 3.3% and Tokyu Land Corp. shed 4.6%.
In Sydney, meanwhile, shares of Telstra rose 2.4% after the telecommunications major posted a forecast-beating 12% increase in annual profit.
Shares of mining giant Rio Tinto Ltd. tacked on 1.5% before the release of its own financial results.
Over in Hong Kong, shares of banking heavyweight HSBC Holdings PLC rose 0.2% and China Coal Energy Co. gained 2.5%, while footwear major Belle International Holdings Ltd. climbed 3.3%.
Elsewhere, South Korea’s Kospi added 0.3% after the Bank of Korea left its policy interest rate unchanged, as widely expected.
In Seoul, KB Financial Group Inc. rose 1.4%, and Shinhan Financial Group Co. added 0.4%.
CHINA
In Shanghai, several financial and property stocks drifted lower amid lingering economic worries.
The Shanghai Shenzhen CSI 300 lost 3.84 points, or 0.2%, to 2,276.78
Shares of Citic Securities Co. dropped 1% and Southwest Securities Co. fell 1.9%, while Gemdale Corp. lost 1.8%.
In other markets;
Singapore markets had the day off
Taiwan’s Taiex faltered 13.62 points, or 0.2%, to 7,907.67
Korea’s Kospi Index nicked higher by 5.64 points, or 0.3%, to 1,883.97
In New Zealand, the Exchange 50 Gross Index slid 6.92 points, or 0.2%, to 4,541.38
In Australia, the S&P/ASX 200 rebounded 53.50 points, or 1.1%, to 5,064.80
