Trade Concerns Linger, Asia Still Mostly Higher

Asian stocks closed higher on Wednesday, with major markets in the region gaining ground even as trade anxieties lingered in the background.

In Japan, the Nikkei 225 gained 86.19 points, or 0.4%, to 22,625.73, as energy-related names recovered slightly after the last session’s decline. Tech stocks also advanced on the back of gains in their U.S. counterparts overnight, while consumer stocks slipped.

In Hong Kong, the Hang Seng Index took on 165.65 points, or 0.5%, to 31,259.10, amid broad-based gains, with the information technology sector among the best-performers in the afternoon. AAC Technologies was the benchmark’s top gainer, advancing 8.1%, and Sunny Optical jumped 4.8%.

Australian markets advanced, buoyed by gains in resource plays and oil producers. Mining majors Rio Tinto ahead 2.5%, and BHP gained 2%, while the country’s “Big Four” banks closed lower across the board.

CHINA

In Shanghai, the CSI 300 dumped 7.97 points, or 0.2%, to 3,837.35

Despite the improved investor sentiment, trade-related concerns lingered. China reportedly agreed to purchase almost $70 billion in U.S. agriculture and energy products from the U.S. if the latter held off on imposing tariffs against Chinese imports, the Wall Street Journal said on Tuesday.

In other markets

Korean markets were shuttered for holiday

In Singapore, the Straits Times index lost 15.35 points, or 0.4%, to 3,467.81

In Taiwan, the Taiex Index leaped 101.72 points, or 0.9%, to 11,201.83

In New Zealand, the NZX 50 gained 56.42 points, or 0.6%, to 8,813.45

In Australia, the ASX 200 picked up 30.23 points, or 0.5%, to 6,025.11

This article provided by NewsEdge.