Most Asian markets ended higher on Wednesday, with resource- and financial-sector stocks underpinning the gains after a strong performance for global equities and commodities a day earlier.
In Japan, the Nikkei 225 Index edged up 25.62 points, or 0.3%, to 8,447.88
In Hong Kong, the Hang Seng Index increased 147.66 points, or 0.8%, to 19,151.90
Mining giant BHP Billiton Ltd. added 1.5% and iron-ore producer Fortescue Metals Group Ltd. put on 2.6% in Sydney, while Aluminum Corp. of China Ltd. added 2.3% in Hong Kong and 0.2% in a downbeat Shanghai market.
Several steel makers climbed in the region, with Bluescope Steel Ltd. rising 1.2% in Sydney, Posco adding 0.7% in Seoul and JFE Holdings Inc. gaining 0.6% in Tokyo.
The region’s energy stocks also mostly advanced after Nymex crude-oil futures stayed above the $101 U.S. a barrel level.
Woodside Petroleum Ltd. gained 3.2% in Sydney, Inpex Corp. rose 1.4% in Tokyo and Cnooc Ltd. added 1.3% in Hong Kong.
Some financial firms also strengthened after American banks led gains on Wall Street overnight.
Shares of HSBC Holdings PLC climbed 1% in Hong Kong and Sumitomo Mitsui Financial Group Inc. added 1.9% in Tokyo.
Shares of Nomura Holdings Inc. rose 3.2% in Japan, shrugging off a Wall Street Journal report that the firm’s joint deputy president Jasjit Bhattal -- the broker’s highest-ranking non-Japanese executive -- was leaving due to differences over strategy.
In Sydney, Westpac Banking Corp. rose 2.1% after Nomura upgraded the stock to buy from neutral.
Tokyo-listed technology shares also moved higher, after the Nasdaq Composite Index notched a four-session winning streak.
Fujitsu Ltd. rose 2.2%, while chip-maker Elpida Memory Inc. put on 1.3%
CHINA
Chinese stocks declined for the first time in four trading days, as coal miners returned some of this week’s advances on profit-taking.
In Shanghai, the CSI 300 Index faded 11.74 points, or 0.5%, to 2,435.61
One expert said that while mainland Chinese shares were consolidating after recent gains, hopes for additional stimulus from Beijing supported selected China-linked stocks across Asia.
Angang Steel Co. added 4.4% in Hong Kong and 0.9% in Shenzhen. The gains came after UOB KayHian upgraded the Chinese steel sector to overweight from underweight, while raising the recommendation on Angang to buy from sell on attractive valuations.
In Shanghai, China Coal Energy Co. dropped 0.4%, China Shenhua Energy Co. declined 1% and Yanzhou Coal Mining Co. lost 1.4% as investors locked in recent gains. The three stocks are still up at least 9% this week, following hefty gains earlier in the previous two days.
In other markets;
Taiwan’s Taiex Index added 9.34 points, or 0.1%, to 7,188.21
Korea’s Kospi Index slid 7.67 points, or 0.4%, to 1,845.55
Singapore’s Straits Times Index gained 27.30 points, or 1%, to 2,747.13
New Zealand’s NZX 50 Index picked up 8.52 points, or 0.3%, to 3,236.53
Australia’s S&P/ASX 200 Index climbed 35.28 points, or 0.9%, to 4,187.52
