Local, regional stocks rise ahead of US inflation data
Most Asian stocks edged higher on Wednesday as oil prices extended a decline on receding concerns about another military flare-up between the United States and Iran, while traders were also nervously awaiting Nvidia's earnings and key US inflation data. In Hong Kong, the benchmark Hang Seng Index put on 0.56 percent to close at 25,652. The Hang Seng China Enterprises Index rose 1.05 percent to…
Asian equities rose on Wednesday as investors welcomed falling oil prices and a lack of fresh tensions between the United States and Iran. Traders also kept a close eye on Nvidia's upcoming earnings report and critical US inflation figures. Hong Kong's Hang Seng Index closed up 0.56 percent at 25,652, while the Hang Seng China Enterprises Index climbed 1.05 percent to 8,533, and the Hang Seng Tech Index increased 0.82 percent to 4,626.
Mainland shares also posted gains, with the Shanghai Composite Index up 0.59 percent to 3,912 and the Shenzhen Component Index advancing 0.69 percent to 13,841. Securities and industrial metals outperformed, while medical services and electrical machinery were among the steepest decliners. Japan's Nikkei 225 index gained 0.62 percent to close at 66,262, following an initial dip, and South Korea's Kospi index saw a 0.97 percent rise to 6,808. Crude oil prices fell more than two percent, with Brent crude falling well under US$90 a barrel.
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