Regional markets gain, China stocks dip

Business | 17 Jun 2019 11:50 am

Asian stocks inched higher today, with a rebound in the Hong Kong market helping the mood, as investors remained cautious ahead of a closely-watched Federal Reserve meeting.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1%, after opening slightly weaker. Japan’s Nikkei average ticked up by a similar amount.

Asian markets got a quick boost after Hong Kong’s Hang Seng Index jumpedby 1.4 percent. The Hang Seng fell for three sessions in a row through Friday, after the extradition bill triggered mass protests and some of the worst unrest since Britain handed it back to Chinese rule in 1997.

Mainland Chinese shares dipped. The benchmark Shanghai Composite fell by 0.05 percent, or 1.45 points at 2,880.52. The Shenzhen Stock Exchange Composite Index lost 0.52 percent, or 7.78 points at 1,497.28.

Japan’s Nikkei 225 share average edged up by  0.11 percent to 21,140 but the broader Topix was down 0.24 percent at 1,543.06.

South Korean stocks traded higher as institutions turned net buyers ahead of a Federal Reserve meeting this week and the Group of 20 summit later this month. The benchmark Korea Composite Stock Price Index (KOSPI) added 3.41 points, or 0.16 percent, to 2,098.82 as of 11:15 a.m local time.-Reuters/The Standard 




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