Asian markets trade mixed; Hang Seng up ~1%

The Shanghai Composite down 0.11%, Hong Kong’s Hang Seng index was 0.3% higher and South Korea’s Kospi was fractionally lower.

Feb 12, 2020 02:02 IST India Infoline News Service

Asian markets were trading mixed on Wednesday’s session, the Nikkei 225 gained 0.47% and the Topix index remained in negative territory. The Shanghai Composite down 0.11%, Hong Kong’s Hang Seng index was 0.3% higher and South Korea’s Kospi was fractionally lower.

Shares of Softbank Group jumped 14% after the media reports said that a judge stateside approved a merger between T-Mobile and Sprint.

On Tuesday, US Federal Reserve Chairman Jerome Powell said the central bank is “closely monitoring” the situation surrounding the ongoing coronavirus outbreak and its potential impact to China and the global economy, though he noted that it is “too early to say” how the disease could hit the US economy.

Overnight on US Market, the S&P 500 closed 0.2% higher at 3,357.75 while the Nasdaq Composite advanced 0.1% to end its trading day at 9,638.94. The Dow Jones Industrial Average rose as much as 138 points before closing flat at 29,276.34.

Meanwhile, oil prices rose for a second day on Wednesday with the Brent crude was up 73 cents, or 1.3%, at $54.75 per barrel and US West Texas Intermediate (WTI) rose 46 cents, or 0.9%, to $50.39.

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