Asian stock indexes ended higher on Wednesday following the reelection of U.S. President Barack Obama, with the incumbent’s victory seen as removing uncertainly, even as markets began looking ahead to U.S. fiscal-cliff issues and the relatively short seven-week period to tackle the problem.
Japan’s Nikkei 225 Index dipped 2.26 points to 8,972.89
In Hong Kong, the Hang Seng index leaped 155.42 points, or 0.7%, to 22,099.85
Asian markets appeared to breathe a collective sigh of relief on news of the Obama victory, as an incumbent in the White House means U.S. trade and fiscal policies, are likely to continue, analysts said.
In Hong Kong, notable gainers included apparel firm Esprit Holdings Ltd., up 5.5%, property firm New World Development Co. up 3.2%, and Cathay Pacific Airways Ltd up 1.3%.
In Tokyo, Panasonic Corp. advanced 2.3%.
Sumitomo Metal Mining Co. surged 6.2% after updating investors on first-half earnings.
Nissan Motor Co. gained 4.1% after the auto maker reported a 7.7% quarterly-profit increase to 106 billion yen ($1.3 billion U.S.), a figure that exceeded analyst expectations.
News Corp. shares gained 3.2% in Australia after the media group reported that its fiscal first-quarter profit more than doubled and backed its fiscal-year operating-income forecast.
Hong Kong-listed shares of gold miners and jewelry retailers shot higher on expectations that the Obama victory would mean the U.S. monetary and fiscal policies would remain supportive, underpinning gold and other precious metals prices.
Gold miners Zhaojin Mining and Zijin Mining both jumped 6.2%, while retailer Luk Fook Holdings International was up 5.3%.
The operator of the local stock exchange, Hong Kong Exchanges & Clearing, rose 1.9% after it reported quarterly profit fell 19% from a year earlier.
In other markets
The Shanghai CSI 300 Composite Index lost 4.70 points, or 0.2%, to 2,287.51
In Singapore, the Straits Times Index recovered 23.94 points, or 0.8%, to 3,043.27
Korea’s Kospi index added 9.38 points, or 0.5%, to 1,937.55
Taiwan’s Taiex Index gained 50.50 points, or 0.7%, to 7,287.18
New Zealand’s NZX 50 gained 15.42 points, or 0.4%, to 3,943.10
Australia’s ASX Index tacked on 31.66 points, or 0.7%, to 4,516.46
