Asia report: Most markets higher on day of little data
Most markets in Asia finished higher on Thursday, as investors seemingly brushed off Wall Street’s weak Wednesday session overnight as US President Donald Trump threatened a government shutdown.
In Japan, the Nikkei 225 was down 0.42% at 19,363.77, as the yen turned weaker against the dollar, last losing 0.24% at JPY 109.30.
On the mainland, the Shanghai Composite was off 0.48% at 3,271.99, and the smaller, technology-heavy Shenzhen Composite fell 0.61% to 1,890.48.
South Korea’s Kospi was up 0.4% at 2,375.84, while the Hang Seng Index in Hong Kong added 0.43% to 17,518.60.
Markets in Hong Kong enjoyed a full session, after trading was cancelled on Wednesday due to the threat posed by Typhoon Hato.
Gaming stocks in the special administrative region were lower after Hato caused a serious power outage in Macau on Wednesday, with both Melco International Development and Sands China under the cosh.
In Seoul, Samsung Electronics launched its Galaxy Note 8 smartphone overnight, a year after it released the fire-prone Note 7 which ended up embroiled in a total and wide-ranging recall of all handsets, after a number of seemingly spontaneous combustions were reported.
The technology giant’s stock finished 0.08% higher.
Stateside, markets were still reacting to Trump’s comments on Tuesday that he would willingly “close down” the government to ensure he has the money to build his border wall with Mexico.
During his campaign, Trump said the wall would be paid for by Mexico, although it wasn’t clear how this would be achieved given the Mexican government’s public opposition to the wall.
Trump also caused concern for trade in the region this week, telling a rally in Arizona that the United States would “end up probably terminating NAFTA”.
Oil prices were lower during Asia trading, with Brent crude last down 0.44% at $52.34 and the West Texas Intermediate down 0.56% at $48.14.
In Australia, the S&P/ASX 200 was 0.14% firmer at 5,745.48, underpinned by strength in the information technology and materials subindexes.
Travel agency Flight Centre Travel Group was up 10.66% after it reported its full-year earnings, which were down 5.6% although that still remained above analyst expectations.
Across the Tasman Sea in New Zealand, the S&P/NZX 50 was off 0.1% at 7,868.41, led lower by Metro Performance Glass.
The glass maker lost 10.8% after it said it was expecting flat half-year results, despite a significant contribution from recent acquisition Australian Glass Group.
Both of the down under dollars were weaker against the greenback, with the Aussie last off 0.13% at AUD 1.2667 and the Kiwi retreating 0.11% to NZD 1.3858.