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
was up nearly 1% as the index pushed back into positive territory for 2018. SoftBank
was up some 4.7%, and export-reliant companies such as Toyota
were up nearly 2%.
Hong Kong stocks, down for six straight days, roared back to life, with the Hang Seng Index
up 2.5%. Mainland heavyweights including Tencent
, China Construction Bank
and Ping An
were strong while Geely
rebounded more than 8% and beaten-down Macau casinos stocks climbed. But drugmakers remained under pressure on looming price cuts, with Sino Biopharma
Trade hopes helped Chinese stocks rise, with the Shanghai Composite
up 1.1% after three straight declines while the Shenzhen Composite
, which came into today’s trading down 7.5% for the year, was up 0.1%, with Samsung
down 1.1%. Taiwan’s Taiex
was about flat, though chip maker Taiwan Semiconductor
fell after the unveiling of the new iPhones, which feature advanced A12 Bionic chips it produced with partner Apple Inc.
Australia’s ASX 200
was one of the few laggards on the day, down over 0.7%. New Zealand
gained nearly 0.6%. Benchmarks in Singapore
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