Asia markets trade mixed; ASX hits two-week high as banking fears ease
Asia-Pacific markets were trading mixed on Thursday, with Australia’s benchmark index hitting a two week high as concerns on the recent banking turmoil in the U.S. and Europe ease.
In Australia, the S&P/ASX 200 rose 0.85%, led by miners and bank stocks. Top gainers, BHP and Rio Tinto, were up 2.37% and 1.61% respectively, as well as the “Big Four” banks, which posted gains of 0.8% to 1.7%.
Japanese markets are trading lower, the Nikkei 225 fell 0.73%, while the Topix saw a larger loss of 0.87%.
The Hang Seng index dropped 0.68%, while the Hang Seng Tech index also slid 0.69%, reversing some of the gains made on Wednesday.
South Korea’s Kospi was up 0.21%, while the Kosdaq index gained 0.83%.
|Nikkei 225 Index||*NIKKEI||27727.62||-156.16||-0.56|
|Hang Seng Index||*HSI||20207.64||15.24||0.08|
|S&P/ASX 200||*ASX 200||7122.3||72||1.02|
|CNBC 100 ASIA IDX||*CNBC 100||8199.38||12.15||0.15|
Overnight in the U.S., stocks rose broadly as strong gains in tech helped the Nasdaq rebound after a losing session. Sentiment was also lifted by easing concerns around the state of the banking sector.
ASX hits two week high, led by miners and bank stocks
Australian miners, banks and tech firms led the S&P/ASX 200 to its highest level in two weeks on Thursday.
The index currently trades at 7,120 points, the highest since March 10.