Asian share markets extended gains Wednesday, as technology stocks such as Samsung Electronics got a lift from Intel Corp.'s optimistic earnings outlook.
Financial stocks also traded broadly higher in the wake of strong second-quarter results from Goldman Sachs Group, while resource stocks stretched their advance on an increase in commodity prices.
Japan's Nikkei 225 index finished ahead Wednesday, but only slightly, picking up 7.44 points, or 0.1%, to 9,269.25, not much helped by the Bank of Japan's decision to extend special liquidity-boosting measures for an additional three months and hold benchmark interest rates steady at 0.1%.
In Hong Kong, the Hang Seng Index added another 372.93 points, or 2.1%, on top of Tuesday’s 600-point-plus jump, to end the day at 18,258.66
Samsung Electronics Co., the world’s second-largest maker of semiconductors after Intel, jumped 5.1% in Seoul on optimism demand for computers is recovering. Intel rose 7.1% in after-hours trading. Air China gained 7.8% in Hong Kong, while China Cosco, the world’s number-one operator of dry- bulk ships, climbed 8.6%. Figures from China’s government today showed that a decline in foreign direct investment slowed.
Tsingtao Brewery Co., China’s second-largest beer maker, rose 2.9% in Hong Kong after Citigroup Inc. recommended investors buy the stock. Rio Tinto Group, the world’s number-three mining company, rose 2% in Sydney on higher metal prices.
Advantest Corp., the world’s biggest maker of memory-chip testers, rose 1.5% in Tokyo. Taiwan Semiconductor Manufacturing Co., the world’s largest maker of customized chips, added 2.1%.
Fortescue Metals Group Ltd. added 6.4%. Jiangxi Copper Co., China’s largest publicly traded producer of the metal, climbed 6.4% in Hong Kong.
Mizuho Financial sank 4% amid plans to raise as much as 655 billion yen ($6.8 billion U.S.) from selling shares after local and overseas investments depleted capital. The company said on July 1 that it may set the price for the sale as early as today.
CHINA
China’s Shanghai Composite Index gained 38.55 points, or 1.1%, to 3,497.30.
Gains in Shanghai were aided by data on money-supply growth for June, which suggested there was ample liquidity in the economy.
Aluminum Corp. of China, or Chalco, climbed 4.8% in Shanghai. PetroChina Co., China’s largest oil producer, gained 1.9%. The company’s refining profit climbed to a record in the first half, parent company China National Petroleum Corp. said in a statement in Beijing today.
Elsewhere:
Singapore’s Straits Times Index increased 78.87 points, or 3.4%, to 2,389.42
South Korea’s Kospi index strengthened 35.30 points, or 2.6%, to 1,420.86
Taiwan’s Taiex leaped 99.19 points, or 1.5%, to 6,738.60
New Zealand’s NZX 50 Index ended the day 15.58 points, or 0.6%, higher to 2,764.08
Australia’s S&P/ASX 200 lifted itself 57.40 points, or 1.5%, to 3,924.50
