News Column

Hong Kong recoups losses

August 12, 2014



Hong Kong stocks ended modestly higher on Tuesday, marking their second day of gains and recovering losses logged at the end of last week.

The Nikkei 225 in Tokyo gained 30.79 points, or 0.2%, to 15,161.31. The yen slipped, trading at 102.274 from 102.237 on Monday.

The Hang Seng Index in Hong Kong added 43.49 points, or 0.2%, to 24,689.41

Chinese PC maker Lenovo Group climbed 3.6%, after both J.P. Morgan and Deutsche Bank raised their price targets for the stock.

Meanwhile, index heavyweight Tencent Holdings extended a three-day winning streak, improving by 0.8%, as investors awaited the online major's interim results, due out on Wednesday.

However, online card and board game developer Boyaa Interactive International dived 8.4%, following an 11% surge in the previous day. The Chinese firm said Tuesday net profit nearly doubled for the first half of the year.

Elsewhere, Australian markets advanced, with banking shares strong. Westpac Banking Corp. gained 1.9%, Commonwealth Bank of Australia rose 1.6%, and National Australia Bank zoomed 1.4% higher.

In other markets;

The Shanghai CSI 300 index slid 8.30 points, or 0.4%, to 2,357.05

In Singapore, the Straits Times STI Index docked 3.06 points, or 0.1%, to 3,303.39

In Korea, the Kospi index was up 2.10 points, or 0.1%, to 2,041.47

The Taiex Index in Taiwan skidded 9.79 points, or 0.1%, to 9,163.12

In New Zealand, the NZX 50 regained 6.18 points, or 0.1%, to 5,055.81

Australia's S&P/ASX 200 gained 73.29 points, or 1.3%, to 5,530.32


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Source: Baystreet Foreign Markets Wrap (Canada)


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