Kospi index in new record close

Asia-Pacific equities markets were mixed again on Wednesday, but gainers outnumbered decliners. Among the gainers was South Korea’s Kospi index, which closed at a record high when it added 1.34 percent to 2,041.12 on gains in the retail and electronics sector. The gains were also helped by the release of the minutes from the most recent meeting of the US Federal Reserve, which calmed fears that the US economy might be poised to contract. In Australia, the Sydney Ordinaries gained 0.85 percent to 6,744.6 and the S&P/ASX200 was up 0.91 percent to 6,738.3. The Shanghai Composite was 0.97 percent higher to 5,771.46. Hong Kong’s Hang Seng index added 1.21 percent to 28, 569.33, while in India the Sensex jumped 2.07 percent to 18,658.25. On the other hand, the Taiex index dropped 0.8 percent to 9,639.83 in Taiwan and in Singapore the Straits Times index fell 1.33 percent to 3,814.45.

Tokyo’s markets were mixed on the session. The Nikkei 225 was 0.1 percent higher to 17,177.89, but the Topix index dropped 0.11 percent to 1,658.18 and the Mothers market was down 1.75 percent to 857.19. Retailers, traders, and commodities related groups saw gains, but banks were lower on the session.

European markets were mixed as well, with most seeing slight gains. However, the Paris CAC-40 fell a bit, down 0.04 percent to 5,838.49. The FTSE Eurofirst 300 added 0.12 percent to 1,589.53, while Madrid’s IBEX was up 0.01 percent to 14,863.8 and the Dax gained 0.08 percent to 7,986.57. The aerospace sector and airlines were both higher. Utilities, the steel sector and carmakers were mixed, while banks saw declines.

London’s equities markets saw gains on the session. The FTSE 100 was 0.27 percent higher to 6,633 and the FTSE 250 gained 0.74 percent to 11,512.1. Banks were mixed on the session. Financial services groups saw gains, while business services and the construction sector were lower.

Wall Street was mixed in midday trade. The Dow Jones Industrial Average was 0.74 percent lower to 14,060.32 as it lost nearly all of the 120 points it gained on Tuesday, while the S&P 500 dropped 0.37 percent to 1,559.4. On the other hand, the Nasdaq Composite was slightly higher, up just 0.03 percent to 2,804.89. The aerospace sector was lower on delivery delays, while the oil and paper sectors both saw declines on warnings. The metals sector was down on quarterly reports, but there were better reports and gains in the retail sector.

Story link: Kospi index in new record close