Officials promised details would be forthcoming on solutions discussed during US/China trade talks, which ended Wednesday. Investors’ hopes that a full-blown trade war could be averted were reflected in a strong across-the-board market performance by regional markets.
The Hang Seng saw a fourth consecutive day of gains, up 586.87 points for a closing mark of 26,462.32 (+2.27%). Over 2.75 billion shares were traded with financial institutions leading as the most active stocks (China Construction Bank 461.35M shares traded/+2.34%, Bank of China 421.77M shares/+1.18%, ICBC 291.86M shares/+3.08%).
The index’s top performer was Geely Automotive Holdings Ltd. After weathering a stock value drop of 11% the previous trading day, the owner of the Lotus and Volvo brands bounced back Wednesday, gaining 0.860 for a closing value of HK$11.080 (+8.41%).
Shanghai’s SE Composite (+0.71%) and Shenzhen’s SZSE Component (+0.76%) also saw a bounce. The China A50 index, comprised of a shares from both SHCOMP and the SZSE Component gained 147.03 points, closing at 10,594.45 (+1.41%).
In Japan, the Nikkei 225 saw its third consecutive day of gains, up 223.02 points for a final mark of 20,427.06 (+1.10%). The index’s top performer was Sumitomo Dainippon Pharma Co., Ltd., gaining 230.0 for a closing per share value of ¥3,840.0 (+6.37%).
The other leading regional indexes all followed suit. S.Korea’s KOSPI (+1.95%), Taiwan’s TAIEX (+1.83%), TWSE Taiwan 50 (+1.99%) and Vietnam’s HNX (+0.85%) and Ho Chi Minh Stock Index (+1.08%) all showed gains.