(Bloomberg) -- Asian equities gained even as concerns over potential international fall out from North Korea's nuclear weapons program faded.
The MSCI AC Asia Pacific Index rose 0.2 percent to 153.97 as of 4:30 p.m. in Hong Kong, reversing an earlier drop of the same magnitude. Technology stocks were among the biggest boosts to the gauge after being beaten down on Tuesday. Automakers led gains in Japan.
“The market was in a nervous mood, but it just reversed mainly because geopolitics come and go,” said Nader Naeimi, head of a dynamic investment fund at AMP Capital Investors in Sydney. “If there are signs of diplomacy coming through, in this case from Russia and China trying to find a way to negotiate, then the market's on a rebound.”
Summary
- Topix index +0.6%, Nikkei 225 Index +0.3%
- Japan Stocks Rise as Automakers Provide Boost, Yen Pares Gain
- Hang Seng Index +0.5%, Hang Seng China Enterprises Index +0.7%, Shanghai Composite Index +0.8%, Taiex 0.6%
- China's Big Short Looks More Like a Big Squeeze to Investors
- Hong Kong Stocks Advance as Geely Gains, Phone Companies Slump
- Australia's S&P/ASX 200 Index -0.4%, New Zealand's NZX 50 -0.3%
- Pepper Group Shares Drop Below KKR Indicative Offer Price
- Kospi +0.3%, Kospi 200 Index +0.4%
- Straits Times Index +1%, FTSE Bursa Malaysia KLCI Index +0.1%, Philippine Stock Exchange PSEi Index +0.2%, Jakarta Composite Index -0.9%, Thailand's SET Index +0.1%, Vietnam Ho Chi Minh Index +0.4%
- Sensex Index little changed, Nifty 50 Index +0.1%
- Reliance, Mahindra Put India Sensex on Course for Two-Week High
To contact the reporter on this story: Livia Yap in Singapore at lyap14@bloomberg.net.
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Margo Towie, Jeff Sutherland
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