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Asian shares up despite weak US lead | Asian shares up despite weak US lead |
(about 1 hour later) | |
Asian markets traded mostly higher despite a lacklustre lead from Wall Street, where US stocks closed lower. | Asian markets traded mostly higher despite a lacklustre lead from Wall Street, where US stocks closed lower. |
Chinese shares headed higher after the Shanghai and Shenzhen stock exchanges revised rules on short-selling in an attempt to reduce market volatility. | Chinese shares headed higher after the Shanghai and Shenzhen stock exchanges revised rules on short-selling in an attempt to reduce market volatility. |
The Shanghai Composite closed 3.7% higher at 3,756.54, while Hong Kong's Hang Seng finished flat at 24,406.12. | |
The changes prevent short-sellers from borrowing and repaying securities on the same day. | The changes prevent short-sellers from borrowing and repaying securities on the same day. |
It is the latest attempt by authorities to stem recent losses on the market. | It is the latest attempt by authorities to stem recent losses on the market. |
Australian shares were higher after the central bank decided to leave interest rates unchanged at a record low of 2%. | Australian shares were higher after the central bank decided to leave interest rates unchanged at a record low of 2%. |
The move was widely expected by economists and the benchmark ASX 200 index closed up 0.3% at 5,697.90. | The move was widely expected by economists and the benchmark ASX 200 index closed up 0.3% at 5,697.90. |
In Japan, the Nikkei 225 index closed down 0.1% at 20,520.36. | In Japan, the Nikkei 225 index closed down 0.1% at 20,520.36. |
Shares of Toyota ended 1% lower ahead of its earnings report, which showed a 10% rise in first quarter net profit, beating expectations. | Shares of Toyota ended 1% lower ahead of its earnings report, which showed a 10% rise in first quarter net profit, beating expectations. |
In Seoul, the Kospi shares index finished up 1% at 2,027.99, rebounding from its lowest since mid-March on Monday. | In Seoul, the Kospi shares index finished up 1% at 2,027.99, rebounding from its lowest since mid-March on Monday. |