Asia Markets
Tech Rebound Lifts Asian Stock Markets
Asian stock markets largely gained on Tuesday, following strong overnight rallies on Wall Street and a rebounding tech sector.Shanghai and Tokyo finished in the green, although Hong Kong fell back. Other regional exchanges were similarly mixed.In Japan, the Nikkei 225 opened higher on New York cues and held ground, finishing up 0.9% as traders again waded back into AI- and semiconductor-related shares.The benchmark Nikkei 225 rose 594.21 to 70,062.32, although losing issues outnumbered gainers 121 to 103.Leading the upside was advanced materials maker Taiyo Yuden, up 8.3%, while IT conglomerate NEC declined 3%.In economic news, Japan's industrial production in May rose 0.5% from April, but was down 1.7% on the year, reported the Ministry of Economy, Trade and Industry.In Hong Kong, the Hang Seng Index opened lower and drifted, closing down 0.6% despite a firming tech sector.The broad gauge Hang Seng fell 145.66 to 22,881,02 as losing issues outnumbered gainers 78 to 15. The Hang Seng TECH Index gained 1.8% on the day, but the Mainland Properties Index fell 1%.Leading the upside was computer maker Lenovo, gaining 8.2%, while Nongfu Spring declined 8.4%.On the mainland, the Shanghai Composite rose 0.5% to 4094.40.In economic news, mainland China's manufacturing purchasing managers index logged at 50.3 in June from 50.0 in May, and striking modestly above the mark that separates growth from contraction, reported the National Bureau of Statistics.The nation's non-manufacturing PMI posted at 50.2 in June, up from 50.1 in May.On the other regional exchanges, the South Korean KOSPI rose 1%; the Taiwan TWSE gained 2.5%; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index fell 0.7%, and the Thai Set advanced 0.9%. In late trading in Mumbai, the Sensex was down 0.3%The MSCI All Country Asia Pacific Index rose 0.7% on the day.
Hang SengNikkei 225Shanghai Composite