(MENAFN- Saudi Press Agency) Asian stock markets crept higher Wednesday after Wall Street steadied and index compiler MSCI signaled Chinese shares will eventually be included in global benchmarks, a development that could attract more portfolio capital to the region, AP reported.
Japan's Nikkei 225 added 0.4 percent to 20,173.55 and South Korea's Kospi inched up 0.1 percent to 2,065.05. Hong Kong's Hang Seng was up 0.3 percent to 27,064.49 while Australia's S&P/ASX 200 was down 0.1 percent at 5,465.30. The Shanghai Composite in mainland China was flat at 5,112.73.
Global stock-index compiler MSCI Inc. said Chinese stocks will be included in its global benchmarks after a few issues related to market accessibility are resolved. After the result of the annual review was announced, the Shanghai benchmark opened slightly lower but soon recovered the loss. The benchmark has surged in the past few days, driven by the expectation that inclusion in MSCI indexes would spur more capital into Chinese markets. Expectations of new economic stimulus measures in China have also boosted Chinese stocks.
Benchmark U.S. crude gained 62 cents to $60.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $2.00 to close at $60.14 a barrel in Nymex floor trading on Tuesday after an Energy Department monthly report predicted a decline in U.S. output later this year and next. Brent crude, a benchmark for international oil, rose 48 cents at $64.88 in London.
The dollar strengthened to 124.53 yen from 124.38 yen. The euro was little changed at $1.129.
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