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Asian Stock Markets Mixed, Higher On Commodities, China Outlook

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Last updated: 03/20/2017 06:20:19

06:20 AM EDT, 03/20/2017 (MT Newswires) -- Asian stock markets were mixed but mostly higher, with Hong Kong and Shanghai finishing in the green while Tokyo was closed for a holiday. Other exchanges were mixed.

In India, the Bombay Stock Exchange CEO Ashish Chauhan said the Indian stock market can raise up to $100 billion annually to help fund that nation's much-needed infrastructure projects and other business needs.

The Hong Kong Hang Seng Index rose 0.79% on the strength of capital flows from the mainland, and rising commodities issues. The southbound flow through the Hong Kong-Shanghai and Shenhua Stock Connects reached 3.7 billion yuan, the highest in the most-recent 15 trading days, reported exchange officials.

The broad gauge Hang Seng rose 192.06 to 24,501.99, as gaining issues outnumbered losers 32 to 16.

Leading the upside was coal-miner China Shenhua (1088:HK), up 16.3% after reporting a profit-surge and declaring a special dividend. Also leading were coal-burning power-plant operator China Resources Power (836:HK), up 4.0%; and then phone-service China Mobile (941:HK), up 3.7%.

On the downside were shoe-retailer Belle International (1880:HK), off 3.3%; and then developer China Resources Land (1109:HK), off 2.4%.

On the mainland, the Shanghai Composite rose 0.41% to 3,250.81.

On the other exchanges, the S. Korean Kospi lost 0.35%; the Taiwan TWSE rose 0.04%; the Australian ASX 200 lost 0.36%; the Singapore Straits Times Index lost 0.12%; and the Thai Set gained 0.16%. In late trading in Mumbai, the Sensex was off 0.50%.

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