{"id":13789,"date":"2021-09-10T09:07:50","date_gmt":"2021-09-10T09:07:50","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/09\/10\/asian-stocks-rebound-on-news-from-china\/"},"modified":"2021-09-10T09:07:50","modified_gmt":"2021-09-10T09:07:50","slug":"asian-stocks-rebound-on-news-from-china","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/09\/10\/asian-stocks-rebound-on-news-from-china\/","title":{"rendered":"Asian Stocks Rebound On News From China"},"content":{"rendered":"
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Asian stocks mostly trod positive territory as easing concerns about Sino-US tensions and clarifications that Chinese regulatory crackdown on gaming companies were not as harsh as originally reported, lifted sentiment in the region. Hang Seng led the region’s rally with a gain of close to 2 percent.<\/p>\n

China’s Shanghai Composite managed to gain 0.27 percent over previous close to end trade at 3703.11 as sentiment was supported by news of conversation between the presidents of US and China.<\/p>\n

Japan’s Nikkei 225 index rallied 373 points or 1.25 percent to end trading at 30,381.84, just about a percent away from the 52-week high of 30714.52.<\/p>\n

Shinsei Bank gained more than 20 percent as rival lender SBI Holdings’ launched an unsolicited bid on it and announced plans to increase its stake to 48 percent through a tender offer. Marine transportation business<\/span> Kawasaki Kisen Kaisha gained more than 5 percent.<\/p>\n

Pharmaceutical company Eisai Co dipped more than 8 percent after Biogen, with whom it is jointly developing Alzhiemer drug Aduhelm admitted to unexpected delays in launch of the drug.<\/p>\n

Korean Stock Exchange’s Kospi Index gained 11.06 points or 0.36 percent to close at 3125.76. The day’s trading range was between 3103.38 and 3131.54. Ilsung Construction Co was the lead gainer with a rally of close to 30 percent.<\/p>\n

The Hang Seng Index of the Hong Kong Stock Exchange gained 489 points or 1.91 percent from previous close to finish trading at 26,205.91. The day’s high was at 26,205.91 and low was at 25,870.71. <\/p>\n

Australia’s S&P ASX200 gained 37 points or 0.5 percent to close at 7,406.60, around 2.96 percent below its 52-week high of 7632.80. Sentiment was lifted following easing of coronavirus<\/span> related restrictions.<\/p>\n

Nickel Mines gained 8.54 percent as positive investor sentiment in the electric vehicle (EV) battery market spilled over to nickel, a key component in lithium-ion batteries, used in generating power for electric vehicles.<\/p>\n

Mining stocks Alumina Ltd, South32 Ltd and Mineral Resources Ltd too rallied more than 5 percent as aluminium prices hit multi-year highs.<\/p>\n

Medical device maker Polynovo Ltd declined more than 5 percent following news of resignation of its chief operating officer. Legal business services provider Omni Bridgeway slipped following unfavorable legal decision in the Brisbane floods class action suit.<\/p>\n

The NZX50 of the New Zealand Stock Exchange shed 31.38 points or 0.24 percent to close at 13,064.39. At closing levels, the index was 4.25 percent below the 52-week high of 13643.78.<\/p>\n

Specialty retailer Kathmandu Holdings gained 2.82 percent whereas electric utilities business Infratil Ltd advanced 1.81 percent. Seafood company Sanford corrected 3.27 percent in the day’s trade. <\/p>\n

On Thursday, the U.S. benchmarks had closed weak as traders weighed in delta virus-impacted growth concerns as well as a lower jobless claims reading. Nasdaq-100 closed at 15,561.05, around 0.38 percent lower than the previous close whereas Dow Jones Industrial Average ended at 34,879.38, down from the earlier close by 0.43 percent. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n