Asia Markets: Asian markets shoot higher, as tech stocks rebound


Asian stock indexes jumped to across-the-board gains in early trading Friday, following the previous days roller-coaster trading that left markets in the red. Thursday’s gains in the U.S. and Europe apparently helped brighten sentiment as the week came to an end, as did the prospect of easing trade tensions between the U.S. and China.

Japan’s Nikkei NIK, +0.44%   was up 0.5%, as precision instruments, metals and shipping led the early gainers. Medical-device maker Terumo 4543, +2.45%   was up 2%, as were Sumitomo Metal Mining 5713, +2.03%   and major shipper Mitsui O.S.K. 9104, +2.58%  

Chinese stocks were higher, looking to end a rough week on an up note. The Shanghai Composite SHCOMP, -0.39%   was up 0.3% after four straight declines and the Shenzhen Composite 399106, -0.74%   rose 0.4%. Insurers posted gains, with New China Life Insurance 601336, +1.38%  up almost 2%. Tech stocks rebounded and Henan Shuanghui 000895, +1.52%   recovered 1.5% after the meat producer closed a slaughterhouse because of African swine fever, reversing some of Thursday’s slide.

Hong Kong’s Hang Seng Index HSI, +0.52%  , down for five straight days, gained 0.7% as tech stocks recovered. Lenovo 0992, +5.87%   jumped 5.6% and Tencent 0700, +3.19%   was up 3%. Financials were also solid, with insurer Ping An 2318, +0.80%   up 1% following its quarterly results.

Korea’s Kospi SEU, +0.27%   rose 0.4% as Samsung 005930, -0.11%   and HK Hynix 000660, +0.00%   pared the previous day’s losses.

Singapore’s benchmark STI, +0.62%  , which has fallen six days in a row, was up 0.6%, and indexes in Taiwan Y9999, +0.42%   and Malaysia FBMKLCI, +0.34%   rose as well.

New Zealand’s NZX 50 NZ50GR, +0.48%   jumped 0.6% as it neared a fourth straight day of gains and came close to its record closing high, set in July. Australia’s benchmark XJO, +0.15%   posted modest gains as mining companies, such as Fortescue Metals FMG, -1.76%  , fell.

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