Asian stock markets traded mostly in the green on Wednesday, buoyed by safe haven demand following CNN’s report that Israel may be preparing for a potential strike on Iranian nuclear sites.
China’s Shanghai Composite Index edged up 6.73 points, or 0.2%, to 3,387.21. Hong Kong’s Hang Seng gained 120.88 points, or 0.51%, to reach 23,802.36. South Korea’s Kospi rose 23.98 points, or 0.92%, to 2,625.78.
However, Japan’s Nikkei slipped 80.83 points, or 0.22%, to 37,448.66 as of 7:45 am.
Asian shares also gained on Tuesday after China slashed key interest rates in a bid to counter an economic slowdown deepened by ongoing trade tensions with the US.
Chinese battery giant CATL surged 17.2% in its Hong Kong debut, after raising around $4.6 billion in the world’s largest IPO so far this year. In Australia, the Reserve Bank cut its benchmark interest rate by 0.25 percentage points to 3.85%, the second rate cut this year, citing inflation now within its target range.
Meanwhile, US stock indexes slipped on Tuesday as Wall Street’s recent rally lost steam, after a strong rebound that had brought markets close to record highs set earlier this year.
The S&P 500 dipped 0.4%, marking its first decline in seven sessions, though it remained just 3.3% below its all-time high. The Dow Jones Industrial Average dropped 114 points, or 0.3%, while the Nasdaq Composite edged down 0.4%.
Treasury yields and the US dollar held steady after a brief shake on Monday, triggered by Moody’s Ratings lowering its outlook on the US creditworthiness due to growing concerns over rising national debt.
China’s Shanghai Composite Index edged up 6.73 points, or 0.2%, to 3,387.21. Hong Kong’s Hang Seng gained 120.88 points, or 0.51%, to reach 23,802.36. South Korea’s Kospi rose 23.98 points, or 0.92%, to 2,625.78.
However, Japan’s Nikkei slipped 80.83 points, or 0.22%, to 37,448.66 as of 7:45 am.
Asian shares also gained on Tuesday after China slashed key interest rates in a bid to counter an economic slowdown deepened by ongoing trade tensions with the US.
Chinese battery giant CATL surged 17.2% in its Hong Kong debut, after raising around $4.6 billion in the world’s largest IPO so far this year. In Australia, the Reserve Bank cut its benchmark interest rate by 0.25 percentage points to 3.85%, the second rate cut this year, citing inflation now within its target range.
Meanwhile, US stock indexes slipped on Tuesday as Wall Street’s recent rally lost steam, after a strong rebound that had brought markets close to record highs set earlier this year.
The S&P 500 dipped 0.4%, marking its first decline in seven sessions, though it remained just 3.3% below its all-time high. The Dow Jones Industrial Average dropped 114 points, or 0.3%, while the Nasdaq Composite edged down 0.4%.
Treasury yields and the US dollar held steady after a brief shake on Monday, triggered by Moody’s Ratings lowering its outlook on the US creditworthiness due to growing concerns over rising national debt.
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