(MENAFN– ecpulse)
Asian stocks swung between gains and losses on Wednesday amid low volumes with trading in Hong Kong being canceled due to typhoon Utor, which brought maximum wind speeds of 119 kilometers (74 miles) an hour. The city issued a No. 8 storm signal--the third highest.
- MSCI Asia Pacific Index fell 0.1% to 134.90 as of 12:17 in Hong Kong
In Japan stocks bounced between gains and losses then managed to close higher for the first time in a week as the dollar/yen pair traded at a one-week high of 98.30 pushing manufacturers higher as their competitiveness in the global markets improves.
- Nikkei 225 closed 1.32% higher at 14050.16
- Topix closed 1.23% higher at 1171.34
China’s benchmark index rose above 2,100 points yet closed in red on news that coal and aluminum firms may be at risk of defaults due to rising debt levels as the economy slows. Automakers gained on news rival foreign car-makers are being investigated for price-fixing.
- China’s CSI 300 Index closed 0.42% lower at 2349.08
In Australia the benchmark index fell after rising to its highest level in nearly three months as investors digested the latest earnings reports. Oz Minerals fell 4% after posting a $244 million loss for the first-half while WorleyParsons rose 3.4% after reporting strong revenues.
- S&P/ASX 200 closed 0.01% lower at 5157.42
- New Zealand’s NZX 50 closed 0.03% lower at 4524.59
In South Korea the benchmark index hit a new one-and-a-half week high for a second straight session. Hyundai is in focus on news workers could strike next week while Apple suppliers rose on news billionaire investor Carl Icahn took a “large portion” in Apple.
- Kospi closed 0.57% higher at 1923.91
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