Bloomberg News
Asian stock markets were mostly higher in early trading Wednesday. The gains followed solid advances in Europe overnight as well as for the Dow and S&P. But S&P 500 futures ESU8, -0.19% were down 0.2% in Asia, perhaps signaling things may not be bright again in the U.S. for Wednesday’s trading.
Japan’s Nikkei NIK, +0.35% edged up 0.4%, as steel makers JFE Holdings 5411, +3.37% and Nisshin Steel 5413, +2.47% rallied. While most automakers gained, Mitsubishi Motors 7211, -4.09% sank despite beating earnings expectations Tuesday.
After falling early, Chinese stocks rallied into positive territory. The Shanghai Composite SHCOMP, +0.09% , after notching its best three-day streak in more than two years, and the Shenzhen Composite 399106, +0.16% each were up about 0.1%. Bank and infrastructure stocks, Tuesday’s big gainers, remained active while Facebook-related plays logged gains as the company announced a China unit.
Meanwhile, vaccine maker Kangtai 300601, -8.74% was down 9%, and shares in medical peer Changsheng 002680, -9.96% were halted after seven straight days of steep losses amid the a rabies vaccine scandal.
Hong Kong stocks continued their run of strong gains, as the Hang Seng HSI, +0.80% climbed 0.7%. Financials were again solid, with China Construction Bank 0939, +0.84% rising 1%. Elsewhere, Tencent 0700, +0.64% was up similarly and Sinopec 0386, +2.77% jumped 2.6%.
South Korea’s Kospi SEU, -0.38% dipped slightly, as did indexes in Taiwan Y9999, -0.22% and Australia XJO, -0.40% , while indexes in Singapore STI, +0.83% and New Zealand NZ50GR, +0.23% posted modest gains.