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Asia Markets

June 29, 2018, 8:01 a.m. EDT

Australia caps a sunny quarter in mostly mixed Asia-Pacific stock action

Bullish milestones for Australia and New Zealand as Japan’s Nikkei pulls out June gain and China down 10% for quarter

By Dow Jones Newswire


Getty Images/iStockphoto
People enjoy the sun at Bondi Beach in Sydney, Australia.

Asia-Pacific stocks were mixed on Friday, the last trading day of an up-and-down second quarter.

Australian stocks emerged as stars with June’s outperformance, allowing Australia’s key index (S&P:AU:XJO)   to hit levels last seen at the start of 2008 and New Zealand’s benchmark (NZE:NZ:NZ50GR)   to log a series of record closing highs. Both gave up early Friday gains to close lower for the session, but the move did little to tarnish the quarter.

Japan’s Nikkei (NIKKEI:JP:NIK)   rose 0.2% after mixed trading Friday, as it barely gained for June but avoided logging a fourth monthly drop out of the past five. The transportation and oil sectors fared the worst, with Japan Petroleum Exploration (TKS:JP:1662)   and Inpex (TKS:JP:1605)   each down more than 2%. Sharp Corp. (TKS:JP:6753)   skyrocketed after the company dropped a plan to issue as much as $2 billion in new shares.

In China, the Shanghai Composite (SHG:CN:SHCOMP)   rose 2% after four days of losses, but will record a 10% loss for a quarter that landed it in correction territory. Hong Kong’s Hang Seng Index (HONG:HK:HSI)   was up 1.6% for the session, though down 3.7% for the quarter.

South Korea’s Kospi (KOREA:KR:180721)   flitted between gains and losses but its firmer finish snapped a three-day losing streak after notching a 13-month closing low Thursday. Samsung Electronics (KRX:KR:005930)   fell, though other tech companies gained.

Markets in Taiwan  and Singapore (SES:SG:STI)   rose Friday as well.

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