Asian markets shoot higher, as tech stocks rebound


Asian stock indexes jumped to across-the-board gains in early trading Friday, following the previous days roller-coaster trading that left markets in the red. Thursday’s gains in the U.S. and Europe apparently helped brighten sentiment as the week came to an end, as did the prospect of easing trade tensions between the U.S. and China.

Japan’s Nikkei

NIK, +0.35%

  was up 0.5%, as precision instruments, metals and shipping led the early gainers. Medical-device maker Terumo

4543, +3.15%

  was up 2%, as were Sumitomo Metal Mining

5713, +1.92%

  and major shipper Mitsui O.S.K.

9104, +2.51%


Chinese stocks were higher, looking to end a rough week on an up note. The Shanghai Composite

SHCOMP, -1.34%

  was up 0.3% after four straight declines and the Shenzhen Composite

399106, -1.69%

  rose 0.4%. Insurers posted gains, with New China Life Insurance

601336, +0.74%

 up almost 2%. Tech stocks rebounded and Henan Shuanghui

000895, +0.67%

  recovered 1.5% after the meat producer closed a slaughterhouse because of African swine fever, reversing some of Thursday’s slide.

Hong Kong’s Hang Seng Index

HSI, +0.23%

 , down for five straight days, gained 0.7% as tech stocks recovered. Lenovo

0992, +6.30%

  jumped 5.6% and Tencent

0700, +3.31%

  was up 3%. Financials were also solid, with insurer Ping An

2318, +0.15%

  up 1% following its quarterly results.

Korea’s Kospi

SEU, +0.28%

  rose 0.4% as Samsung

005930, -0.34%

  and HK Hynix

000660, -0.27%

  pared the previous day’s losses.

Singapore’s benchmark

STI, +0.01%

 , which has fallen six days in a row, was up 0.6%, and indexes in Taiwan

Y9999, +0.07%

  and Malaysia

FBMKLCI, +0.28%

  rose as well.

New Zealand’s NZX 50

NZ50GR, +0.60%

  jumped 0.6% as it neared a fourth straight day of gains and came close to its record closing high, set in July. Australia’s benchmark

XJO, +0.17%

  posted modest gains as mining companies, such as Fortescue Metals

FMG, -1.17%

 , fell.

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