Regional markets rally, China stocks dip at close

Business | 8 Nov 2018 4:01 pm

Regional markets rallied today following the U.S. midterms, in which Democrats regained control of the House of Representatives.

Overnight, Wall Street also rallied.

But with Democrats regaining the House and Republicans the Senate, legislative gridlock is expected.

In Hong Kong, blue chips closed higher after advancing at the break. The Hang Seng Index was up by 0.26 percent, or 67.88 points at 26,215.57.

Tencent Holdings (0700) dipped by 0.20 percent, at HK$292.80, after rising by 1.91 percent earlier.

Hong Kong Exchanges and Clearing (0388), which reported record nine-month earnings yesterday closed higher, up by 0.98 percent at HK$226.60.

In mainland China, stocks closed lower today after opening higher. The Shanghai Stock Exchange Composite Index dipped by 0.22 percent, or 5.71 points at 2,635.63.

The Shenzhen Stock Exchange Composite Index also fell by 0.48 percent, or 6.39 points, at 1,333.98.

In South Korea, the benchmark Korea Composite Stock Price Index added 13.94 points, or 0.67 percent, to close at 2,092.63. Trading volume was moderate at 322.59 million shares worth 5.86 trillion won (US$5.25 billion), with winners outnumbering losers 718 to 131.

In Japan, the Nikkei 225 index gained by 1.82 percent or 401.12 points at 22,486.92 at the close, while the broader Topix index was up by 1.74 percent or 28.82 points at 1,681.25.

Taiwan shares closed up by 36.96 points, or 0.37 percent, at 9,945.31 Thursday on turnover of NT$118.44 billion (US$3.86 billion).

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