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ASX Hits 2-Week High as Bank Fears Ease

Asia-Pacific markets were trading mixed on Thursday, with Australia’s benchmark index hitting a two week high as concerns on the recent banking turmoil in the U.S. and Europe ease.

In Japan, the Nikkei 225 retreated 100.85 points, or 0.4%, to 27,782.93.

In Hong Kong, the Hang Seng Index gained 116.73 points, or 0.6%, to 20,309.13.

Australian markets rose, led by miners and bank stocks. Top gainers BHP advanced 2.4%, and Rio Tinto, was up 1.8% as well as the “Big Four” banks, which posted gains of 0.93% to 2.3%.

The “Big Four” banks refer to the Commonwealth Bank of Australia, National Australia Bank, ANZ Group, and Westpac Banking Corp

In other markets

In China, the CSI 300 took on 32.79 points, or 0.2%, to 4,006.14.

In Singapore, the Straits Times backtracked 5.36 points, or 0.2%, to 3,257.18.

In Taiwan, the Taiex gained 79.67 points, or 0.5%, to 15,849.43.

In Korea, the Kospi inched forward 9.24 points, or 0.4%, to 2,454.16.

In New Zealand, the NZX 50 surged 196.42 points, or 1.7%, to 11,933.17.

In Australia, the ASX 200 jumped 72 points, or 1%, to 7,122.34.