While sentiment across the region stabilized Thursday on signs that a U.S.-led military strike on Syria may be delayed, most equity markets are still left nursing heavy bruises inflicted by worries that the U.S. is close to pulling back from aggressive monetary stimulus.
Even so, most indices in the region registered gains after the pounding those same markets have taken during the month.
Japan’s Nikkei 225 regained 121.25 points, or 0.9%, to at 13,459.71
Hong Kong’s Hang Seng Index picked up 180.13 points, or 0.8%, to 21,704.78
The price of oil, which rose on the Middle East concerns, eased slightly Thursday by 1.2% to $108.79 U.S. a barrel late in Asia. The yen, traditionally viewed as a safe-haven asset in times of stress, also softened against the dollar overnight and dipped lower in Asia to ¥98.09.
The weaker currency particularly helped out Tokyo markets.
The easing concerns over Syria allowed markets to look at economic data, with the U.S. pending home sales index down for the second straight month.
In recent months, U.S. economic indicators have been scrutinized over whether the Federal Reserve will withdraw its bond-buying program. Later in the global day, the U.S. will release second-quarter gross domestic product data.
Shares in Qantas jumped 13.8% in Sydney after the company reported that its underlying pretax profit for the fiscal year doubled to 192 million Australian dollars.
CHINA
The earnings season in China and Australia was wrapping up with local markets digesting reports of large companies.
The Shanghai Shenzhen CSI 300 dipped 9.75 points, or 0.4%, to 2,318.31
Shares in China’s third-largest bank by assets, Agricultural Bank of China, rose 2.1% after it reported a 15% increase in its first-half profit, though executives warned of slower profit growth and narrower interest-rate margins over the rest of the year.
In other markets;
The Taiex Index in Taiwan spiked 93.12 points, or 1.2%, to 7,917.66
Korea’s Kospi Index recovered 23.02 points, or 1.2%, to 1,907.54
The Singapore Straits Times Index hiked 33.85 points, or 1.1%, to 3,038.03
In New Zealand, the Exchange 50 Gross Index moved higher 10.79 points, or 0.2%, to 4,520.50
In Australia, the S&P/ASX 200 regained 5.25 points, or 0.1%, to 5,092.41
