Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Settings
Settings
Dynamic quotes
OFFON

school135perm Homepage > News > Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Tech Stocks Rebound in Asia Trading

0
12/28/2017 | 03:01am CET
By Kenan Machado 

Tech stocks continued to rebound early Thursday in South Korea and Taiwan, leading those markets higher, as other indexes in Asia were little changed.

The Kospi and Taiex each rose 0.8% after rebounding Wednesday following worries about iPhone demand.

Samsung Electronics and smaller chip maker SK Hynix each rose more than 1.5% in South Korea on Thursday, while Taiwan Semiconductor Manufacturing and Apple product assembler Hon Hai Precision Industry logged similar gains.

Meanwhile, Hyundai Heavy Industries rebounded 4% after its record 29% plunge a day earlier. The world's largest shipbuilder said earlier this week it would sell stock in 2018 to raise money to fund operations. It also gave guidance through next year.

Elsewhere in Asia, market moves were small. Benchmarks in Japan, New Zealand and Australia are on at the cusp of setting fresh record or multiyear closing highs Thursday.

Investors are reluctant to buy Japanese markets given "bets on further stimulus (from the Bank of Japan) coming through equities are far less now," said Vishnu Varathan, an economist at Mizuho Bank.

The U.S. continued to drift early Thursday in Asia, with analysts saying typical year-end demand for the currency from large firms has been lower. The WSJ Dollar Index, down the past three sessions, was recently off 0.1%, at its lowest level of the month.

The Australian dollar rebounded further on gains in commodity prices. U.S. copper futures on Wednesday barely rose but still notched a 15th-straight gain, the longest streak since at least 1984, according to financial-data firm FactSet.

Reports that China's largest producer, Jiangxi Copper, had been ordered to halt output for a week to curb pollution fueled recent gains.

"It seems increasingly likely that production cuts to protect the environment (in China) are going to be an ongoing feature of the metals-market landscape," said Ric Spooner, chief market analyst at CMC. That should help support mining stocks and the Australian dollar, he said.

Write to Kenan Machado at [email protected]

0
Latest news "Markets"
03:00pMARKET SNAPSHOT : This Epic Stock-market Rally Will Get A Second Wind From Stellar Earnings
02:03pMARKET SNAPSHOT : This Epic Stock-market Rally Will Get A Second Wind From Stellar Earnings
10:19aWall Street hits new highs on earnings optimism, data
01/12ADRs End Slightly Higher; Xunlei, Bitauto, Infosys Trade Actively
01/12Lumber and gold stocks boost TSX, offset drop in pot stocks
01/12MARKET SNAPSHOT : Stocks End At Records, Book Weekly Gains As Earnings Season Kicks Off
01/12MARKET SNAPSHOT : Stocks Hit Records In Broad Rally, But Facebook Tumbles On Newsfeed Overhaul
01/12EUROPE MARKETS : European Stocks Rise, Euro Jumps After German Progress In Coalition Talks
01/12MARKET SNAPSHOT : Stocks Hit Records In Broad Rally, But Facebook Tumbles On Newsfeed Overhaul
01/12USDA GRAIN STOCKS : U.S. Verbatim Text For Dec 2017
Latest news "Markets"
Advertisement
Copyright © 2018 Surperformance. All rights reserved.