Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

ASIA MARKETS: Nikkei Up, But Chinese Stocks Dip On Profit-taking Ahead Of Holiday

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/28/2017 | 12:29pm CET

By Kenan Machado

Kospi down again, while Japan stocks poised for best monthly performance this year

Asian equities finished mostly lower on Thursday, with rising bond yields boosting finance stocks in Japan and Australia, though Chinese markets experienced selling pressure ahead of a week-long holiday.

Japan's Nikkei Stock Average closed up 0.5%, recovering from Wednesday's declines when companies paid dividends. Shares of banks and insurers, which are large holders of U.S. government bonds, drove gains in Tokyo shares.

Overnight, yields on 10-year U.S. Treasurys posted their biggest one-day gain since March, after Republicans in Washington released a plan to overhaul the tax code, which they hope will help economic growth. Those yields rose further in Asian trading on Thursday.

"The plan leaves scope for details to be adjusted, allowing compromises and resultant conciliation, which is likely to boost its chances of getting passed," said Mizuho Bank analyst Zhu Huani.

Banking stocks also drove Australia's benchmark index higher, with the S&P/ASX 200 up 0.1%.

Chinese markets faced selling pressure ahead of a week-long break. The Shanghai Composite Index closed down 0.2%. Hong Kong's Hang Seng Index fell 0.8% to a six-week low amid declines in property developers, Tencent (>> Tencent Holdings Ltd) and China Construction Bank (>> China Construction Bank Corporation) .

"People are hesitating to buy shares in the market given holidays next week," said Ivan Ip, a stock strategist at UOB Group in Hong Kong.

Though the city's stock exchange will be open for three days next week, a full-week closure in mainland China for the National Day holiday will significantly reduce trading volumes, analysts said

Already, Chinese stock investment flows to Hong Kong are down. Hong Kong's biggest share listing of the year posted a strong debut on Thursday. ZhongAn Online P&C Insurance (>> Zhong An Real Estate Limited) , a Chinese insurer, opened up 16%, but ended up just 9.2%.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
12:04aDJU.S. Stocks Rise to New Highs, Buoyed by Telecoms and Financial Firms
12/12DJU.S. Crude-Oil Stocks Seen Decreasing in DOE Data
12/12DJMARKET SNAPSHOT : Dow, S&P 500 Finish At Records As Fed Meets; Nasdaq Bucks Trend
12/12 WALL STREET STOCK EXCHANGE : S&P, Dow close higher; Brent falls after hitting $65
12/12DJU.S. Stocks Rise to New Highs, Buoyed by Telecoms and Financial Firms
12/12 WALL STREET STOCK EXCHANGE : S&P, Dow close higher; Brent falls after hitting $65
12/12 WALL STREET STOCK EXCHANGE : S&P, Dow close higher; Brent falls after hitting $65
12/12 WALL STREET STOCK EXCHANGE : S&P, Dow rise with help from banks; Nasdaq lags
12/12 TSX advances, lifted by Valeant, financial services
12/12DJHealth-Care Stocks Up on Deal Expectations - Health Care Roundup
Latest news "Markets"
Advertisement