Asian stock markets recover, led by Japan and Hong Kong


Asian stock markets bounced back Thursday, led by strong gains in Japan and Hong Kong, as the U.S. offered to renew trade talks with China.

After falling for seven of the past nine sessions, Japan’s Nikkei

NIK, +0.96%

  was up nearly 1% as the index pushed back into positive territory for 2018. SoftBank

9984, +4.72%

  was up some 4.7%, and export-reliant companies such as Toyota

7203, +1.83%

  and Honda

7267, +1.96%

  were up nearly 2%.

Hong Kong stocks, down for six straight days, roared back to life, with the Hang Seng Index

HSI, +2.54%

  up 2.5%. Mainland heavyweights including Tencent

0700, +4.99%

 , China Construction Bank

0939, +3.31%

  and Ping An

2318, +2.70%

  were strong while Geely

0175, +8.36%

  rebounded more than 8% and beaten-down Macau casinos stocks climbed. But drugmakers remained under pressure on looming price cuts, with Sino Biopharma

2922, -1.60%

  and CSPC

1093, -2.04%

  both lower.

Trade hopes helped Chinese stocks rise, with the Shanghai Composite

SHCOMP, +1.15%

  up 1.1% after three straight declines while the Shenzhen Composite

399106, +0.71%

  gained 0.7%.

Korea’s Kospi

SEU, +0.14%

 , which came into today’s trading down 7.5% for the year, was up 0.1%, with Samsung

005930, -1.12%

  down 1.1%. Taiwan’s Taiex

Y9999, +0.04%

  was about flat, though chip maker Taiwan Semiconductor

2330, -2.11%

  fell after the unveiling of the new iPhones, which feature advanced A12 Bionic chips it produced with partner Apple Inc.

AAPL, -1.24%


Australia’s ASX 200

XJO, -0.76%

  was one of the few laggards on the day, down over 0.7%. New Zealand

NZ50GR, +0.58%

 gained nearly 0.6%. Benchmarks in Singapore

STI, +0.23%

 , Malaysia

FBMKLCI, +0.41%

  and Indonesia

JAKIDX, -0.57%


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2018-09-13 11:11:00

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