Hong Kong markets jumped to lead gains in Asia on Wednesday, powered by energy and basic material stocks.
In Japan, the Nikkei 225 index gained 88.65 points, or 0.2%, to 38,570.76.
Investors in Asia assessed Japan’s trade data for May, with exports beating expectations. Exports grew 13.5% year on year compared with a 13% increase expected by economists polled by Reuters. Imports growth of 9.5%, however, missed expectations of a 10.4% increase.
Investors also digested the Reuters Tankan index reading which showed business confidence among large Japanese manufacturers fell to +6 from +9 in May. On the flip side, business confidence among non-manufacturers climbed to +31 from +26 in May.
The Tankan measures business confidence among Japanese corporations, and a positive figure means optimists outnumber pessimists and vice versa.
In Hong Kong, the Hang Seng index recovered 514.84 points, or 2.9%, to 18,430.39.
Korean markets were heavily into the plus column, powered by a 1.75% gain in heavyweight Samsung Electronics.
LG Electronics jumped 6.09%, while SK Hynix reversed earlier gains to fall 0.43%.
The Taiwan Weighted Index closed the day with an almost 2% gain at 23,209.54, led by heavyweights Hon Hai Precision Industry (Foxconn), which rose 2.27% and Taiwan Semiconductor Manufacturing Corp, up 4.03%.
CHINA
In Shanghai, the CSI 300 declined 16.84 points, or 0.5%, to 3,528.75
In China, the China Securities Regulatory Commission said it would publish new measures to deepen the reform of Shanghai’s tech-heavy STAR market, according to a Reuters report.
CSRC chairman Wu Qing said the commission will strengthen regulation of high-frequency trading and over-the-counter derivatives.
In other markets
In Singapore, the Straits Times Index dropped 2.22 points, or 0.1%, to 3,304.
In Korea, the Kospi index jumped 33.41 points, or 1.2%, to 2,797.33.
In Taiwan, the Taiex index popped 452.11 points, or 1.2%, to 23,209.54.
In New Zealand, the NZX 50 slumped 96.21 points, or 0.8%, to 11,671.19.
In Australia, the ASX 200 moved lower 8.36 points, or 0.1%, 7,769.72.
