Asian stock markets ended higher Tuesday, with merger activity bolstering Tokyo shares, while a mild fallback in crude-oil futures helped inspire some investors.
The Nikkei 225 index in Tokyo regained 20.17 points, or 0.2%, to 10,525.20
Hong Kong’s Hang Seng Index rocketed up 398.51 points, or 1.7%, to 23,711.70.
In Hong Kong, stock gains were led by HSBC Holdings PLC, which rose 2.3%, reversing a multiweek slide and contributing the biggest points boost to the Hang Seng index.
Meanwhile, Hong Kong-listed energy shares extended their recent run, with Sinopec rising 3.6% and Petrochina adding 1.8%.
In Tokyo, bargain hunting and mergers-and-acquisition activity propped up the Nikkei.
Hitachi Ltd. added 1.8% after U.S. rival Western Digital Corp. agreed to acquire its hard-disk-drive business for about $4.3 billion U.S. and medical-equipment maker Terumo Corp. tacked on 3.1% on news Monday it will buy major U.S. blood-transfusion-technology firm CaridianBCT Holding Corp. for $2.63 billion U.S.
Still, underscoring the fragile offshore environment, many exporters struggled to hold ground; Sony Corp. was off 0.6%, Honda Motor Corp. lost 0.3% while Toyota Motor Corp. nudged up 0.1%
The Sydney market ended higher after early losses, helped by a strong performance among banks, though oil-sector stocks too were back on investors’ radars.
Westpac Banking Corp. and Australia & New Zealand Banking Group Ltd. led the major lenders higher, each ending up 1.2%. Commonwealth Bank of Australia rose 0.2% and National Australia Bank Ltd. rose 0.6%.
In currencies, the euro currency was at $1.3929 U.S. against the dollar, from $1.3969 U.S. late Monday in New York, and at 114.82 yen from ¥114.88. The dollar was buying ¥82.44, compared with ¥82.24.
CHINA
Shares in China ended modestly higher, after dipping earlier, underpinned by gains in property stocks.
The Shanghai CSI 300 Index gained 2.95 points, or 0.1%, to 3,337.46
China Vanke’s Shenzhen-listed shares climbed 1.7%, while Poly Real Estate Group advanced 1.2% in Shanghai. China Vanke, the country’s largest property developer by market share, said late Monday its net income last year rose 37% to 7.28 billion yuan ($1.12 billion U.S.), accelerating from a 32% rise a year earlier.
Anhui Conch Cement’s Shanghai shares dropped 1.9% while its Hong Kong ones added 0.9%.
In other markets;
Taiwan’s Taiex Index hiked 33.96 points, or 0.4%, to 8,747.75
Korea’s Kospi Index gained 16.05 points, or 0.8%, to 1,996.32
Singapore’s Straits Times Index improved 37.32 points, or 1.2%, to 3,103.84
New Zealand’s NZX 50 slid 8.88 points, or 0.3%, to 3,421.17
Australia’s S&P/ASX 200 picked up 10.30 points, or 0.2%, to 4,808.20
