Hang Seng adds nearly 3 percent on session

Most equities markets in the Asia-Pacific region were higher on Wednesday. In Taiwan the Taiex index was up 0.17 percent to 8,493.46. Australia’s S&P/ASX200 gained 0.26 percent to 6,005, while the Sydney Ordinaries added 0.31 percent to 5,997.4. The Shanghai Composite was 0.5 percent higher to 4,980.08, while in South Korea the Kospi index was up 1.34 percent to 1,759.5. The Sensex gained 1.86 percent to 14,248.66 in India, while the Straits Times index added 2.39 percent to 3,321.5 in Singapore and Hong Kong’s Hang Seng index gained 2.84 percent to 22,346.88.

The main exception to the gains in the region came in Tokyo, where the Nikkei 225 traded about even at 15,900.64, the Topix index dropped 0.3 percent to 1,544.89 and the Mothers market fell 0.02 percent to 703.56. Banks were lower after bank lending growth slowed, while exporters such as the glass, auto, and semiconductors sectors saw declines after it was reported that Japan’s trade surplus narrowed in July. The airline sector made gains on lower crude oil prices.

European markets were higher on the session. The Eurofirst 300 gained 1.57 percent to 1,505.51. In Madrid the IBEX added 0.84 percent to 14,359.2, while the Dax was 1.02 percent higher to 7,500.48 in Frankfurt and the Paris CAC-40 was up 1.83 percent to 4,418.17 and had no losers on the day. The construction sector was higher, while steel, airlines and semiconductors also saw gains. The software, utilities, and healthcare sectors were lower on the session.

In London, the FTSE 100 added 1.81 percent to 6,196 and the FTSE 250 was up 2.55 percent to 10,910.7. Miners saw substantial gains after projections that demand will increase, while pubs operators gained on positive broker comments. Some banks and construction-related groups were also higher. The oil sector was mixed, while the utilities and telecommunications sectors declined.

In early afternoon trade the New York equities markets were up even though many banks were lower again. The Dow Jones Industrial Average was 0.59 percent higher to 13,167.93, while the Nasdaq Composite had added 0.67 percent to 2,538.25 and the S&P 500 had gained 0.49 percent to 1,454.17. While banks saw losses, exchange operators and the hotels sector saw some gains on bids speculation. Housebuilders were mixed.

Story link: Hang Seng adds nearly 3 percent on session