South Korea’s Kospi adds 2.6 percent on session

Asia-Pacific stocks were higher Friday. In Hong Kong, the Hang Seng index added 1.84 percent to 30,405.22, closing over 30,000 for the first time and setting a new closing record after rising to 30,562.63 during the session for an all-time intra-day high. Meanwhile in South Korea the Kopsi index gained 2.6 percent to 3,038.06 for that index’s biggest gain in three weeks. Elsewhere, the Shanghai Composite was up 0.49 percent to 5,589.63 while Taiwan’s Taiex was 0.66 percent higher to 9,631.51. In Australia the Sydney Ordinaries added 1.08 percent to 6,716.4 and the S&P/ASX200 was up 1.15 percent to 6,700.6. The Straits Times Index was 1.74 percent higher to 3,771.55 in Singapore, while India’s Sensex gained 2.52 percent to 19,243.17.

Tokyo’s markets made gains. The Nikkei 225 was up 1.36 percent to 16,505.63, while the Topix index added 1.67 percent to 1,573.97 and the Mothers market jumped 4.73 percent to 930.77. Traders, the oil sector, and carmakers were higher. There were also gains in the electronics sector, but office equipment manufacturers were lower.

European markets were also higher. The pan-European FTSE Eurofirst 300 was 0.62 percent higher to 1,576.75. Frankfurt’s Dax was up 0.21 percent to 7,949.17, while the Paris CAC-40 gained 0.6 percent to 5,794.87 and the IBEX jumped 1.42 percent to 15,603.9. Banks, builders, and automobile and truck manufacturers saw gains. Utilities, including telecommunications, natural gas and electricity providers, were all mixed, as was the airlines sector.

London saw gains on advances in the oil and mining sectors. The FTSE 100 was 1.29 percent higher to 6,661.3 and the FTSE 250 was up 0.25 percent to 11,509.6. Miners and the oil sector saw gains, while retailers and the internet sector were mixed. Utilities were lower.

Wall Street was on the rebound at midday on Friday. The Dow Jones Industrial Average was up 0.52 percent to 13,743.45, while the Nasdaq Composite was 1.29 percent higher to 2,786.34 and the S&P 500 added 0.78 percent to 1,526.26. As in other parts of the world, the oil sector gained on higher crude oil prices. The software sector and mortgage providers and others in the financial services sectors all saw gains as well.

Story link: South Korea’s Kospi adds 2.6 percent on session