By Dow Jones Newswire
Asia-Pacific stocks put up mild gains Wednesday, led by a turn higher for Japanese stocks following muted moves in the U.S. and a steady yen, while Australia’s benchmark also rebounded.
The Nikkei /zigman2/quotes/210597971/delayed JP:NIK -2.13% turned slightly higher after a soggy start, to post four gains in the past five days. Some profit-taking was underway after this week’s gains were being balanced out by the dollar-yen hitting session highs of ¥109.93. That helped automakers, which jumped to start the week. Toyota /zigman2/quotes/203803129/delayed JP:7203 -2.13% was up 1.7%. Other export-related names also saw a lift, with Sony /zigman2/quotes/201361720/delayed JP:6758 -3.89% climbing 2.7% and Hitachi /zigman2/quotes/203839937/delayed JP:6501 -3.52% up 3%.
In China, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.11% was up slightly after starting the day lower, dragged down by energy and financial names. Meanwhile, Shenzhen’s benchmark /zigman2/quotes/210598015/delayed CN:399106 +0.24% was essentially flat after Tuesday’s outperformance. That came as Facebook confirmed it struck data partnerships with several Chinese electronics firms, including Huawei.
Australia’s S&P/ASX /zigman2/quotes/210598100/delayed AU:XJO -0.75% was up 0.5%, with the materials sector jumping more than 1% as big miners BHP Billiton /zigman2/quotes/201448516/delayed AU:BHP -1.01% and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -1.61% were in rally mode, while New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR -2.03% was up 0.6% to lock in a second straight record-high close. South Korea’s markets were closed for a holiday.
Singapore shares /zigman2/quotes/210597985/delayed SG:STI -0.19% closed lower, failing to cash in on early gains tied to banking stocks. Hutchison Port /zigman2/quotes/203429374/delayed SG:NS8U 0.00% continued its rebound, gaining a further 3.5%. Malaysian stocks /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.70% advanced, while Taiwan’s Taiex jumped about 0.9%.