Asia report: Stocks mixed after stellar US session overnight

Stock markets were mixed in Asia on Thursday, with Japan’s benchmark index rising more than 2% on the back of a big rally on Wall Street overnight.

In Japan, the Nikkei 225 was up 2.31% at 28,065.28, as the yen strengthened 0.17% on the dollar to last trade at JPY 143.49.

Robotics specialist Fanuc added 2.82%, Uniqlo owner Fast Retailing rose 2.15%, and tech investing giant SoftBank Group advanced 2.44%.

The broader Topix index was 2.19% firmer by the end of trading in Tokyo, settling at 1,957.62.

Fresh data out of Tokyo saw Japan’s economy growing 3.5% year-on-year in the second quarter, beating the 2.9% analysts polled by Reuters had pencilled in,

Compared to the prior quarter, the Japanese economy grew 0.9%, according to the official data.

On the mainland, the Shanghai Composite was down 0.33% at 3,235.59, and the technology-centric Shenzhen Component lost 0.86% to 11,746.92.

South Korea’s Kospi was 0.33% higher at 2,384.28, while the Hang Seng Index in Hong Kong slipped 1% to 18,854.62.

The blue-chip technology stocks were mixed in Seoul, with Samsung Electronics down 0.72% while SK Hynix closed flat.

Oil prices were higher as the region went to bed, with Brent crude futures last up 0.76% on ICE at $88.67, while the NYMEX quote for West Texas Intermediate advanced 1% to $82.76.

In Australia, the S&P/ASX 200 was 1.77% firmer at 6,848.70, after the country saw a record fall in its trade surplus in its data for July.

Exports were down 10% month-on-month and imports expanded by 5%, seeing the trade surplus slide to AUD 8.7bn from AUD 17.1bn in June.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 added 1.12% to 11,677.93, with dairy plays among the gains after the Global Dairy Trade auction index showed strong demand for whole milk and milk fats overnight.

A2 Milk and Fonterra Shareholders’ Fund were both up 1%, while Synlait Milk managed gains of 0.3%.

The down under dollars were both weaker against the greenback, with the Aussie last off 0.2% at AUD 1.4803, while the Kiwi retreated 0.02% to NZD 1.6462.

Reporting by Josh White at Sharecast.com.