Asia Markets: Asian markets rise in cautious trading

Asian stock markets were cautious but mostly in the green in early trading Wednesday as investors held out hope that a weekend meeting between the U.S. and Chinese leaders can ease trade tensions.

Japan’s Nikkei

NIK, +1.02%

  gained 0.8%, helped by so-called domestic-demand companies, which cooled yesterday after recent strength. Consumer products, food and construction companies led the gains, with soap maker Kao

4452, +4.79%

  up 4.3% and beverage maker Kirin

2503, +1.19%

  gaining 1.3%. But trade-sensitive sectors such as auto and steel were underperforming even with a weaker yen as metals prices have been sliding of late. Toyota

7203, -0.88%

  was down 1.5%.

Hong Kong stocks rebounded after yesterday’s lackluster performance. The Hang Seng

HSI, +1.33%

  was up 0.8%, with energy stocks finding their footing after impacts from Friday’s oil slump. With crude prices up in Asia in morning trading, Cnooc

0883, +2.24%

  rose 1.4%. Meanwhile, stock-market heavyweight Tencent

0700, +3.62%

  was up a further 1.9% as the internet firm continues its rebound.

Stocks on mainland China rose as well, with the Shanghai Composite

SHCOMP, +1.05%

  up 0.7% and the smaller-cap Shenzhen Composite

399106, +1.40%

  gaining 0.5%. Consumer names were early gainers, including wine and home-appliance makers. Shanghai Hi-tech Control

002184, +6.85%

  was up the 10% limit while Navtech

300456, +2.28%

  jumped 5%.

South Korea’s Kospi

SEU, +0.42%

  was up slightly, as was Taiwan’s Taiex

Y9999, +1.08%

 , while Singapore’s Strait Times Index

STI, +0.18%

  struggled for direction.

Australia’s ASX 200

XJO, -0.06%

  was down slightly, though Fortescue Metals

FMG, +2.34%

  jumped 2% after a positive assessment by Morgan Stanley. New Zealand’s NZS-50

NZ50GR, +0.46%

  was up 0.5%.

Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.

We Want to
Hear from You

Join the conversation

الموقع يستعمل RSS Poster بدعم القاهرة اليوم