empty
 
 

2017.05.2505:00:00UTC+00Asian Markets Gain After Fed Minutes

Asian markets climbed on Thursday following minutes from the U.S. Federal Reserve meeting while investors looked ahead to the OPEC gathering broadly anticipated to extend output cuts.

Japan's benchmark Nikkei 225 rose 0.36 percent to close at 19,813.13. South Korea's Kospi index jumped 1.1 percent to finish at 2,342.93.

Australia's ASX 200 ended in positive territory, climbing 0.36 percent to 5,78936.

Mainland Chinese markets reversed earlier declines to finish higher. The Shanghai Composite advanced 1.43 percent to 3,107.873 and the Shenzhen Composite added 0.725 percent to 1,811.9033. Hong Kong's Hang Seng Index was trading 0.80 percent higher in afternoon trade.

In South Korea, The world's second biggest chipmaker SK Hynix said the firm's chip foundry business will be spun into a separate company. According to reports, a company spokesperson said the firm has made a decision to raise long-term competitiveness of the foundry business. SK Hynix shares closed little changed at 55,800 won per stock.

In China, regulators fined brokerages Citic Securities, Haitong Securities and Guosen Securities for violating financing rules. Mainland-listed shares of the brokerages closed higher. Citic Securities jumped 3.99 percent, Haitong climbed 2.44 percent while Guosen leaped 3.8 percent. Shares traded in Hong Kong were also higher, as Citic added 2.92 percent while Haiton gained 4.4 percent.

Hong Kong's rating was also downgraded by Moody's. The ratings agency said the Hong Kong downgrade was due to the impact of China credit trends on Hong Kong.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback