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Tech-Sector Strength Lifts Asian Stock Markets

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Last updated: 04/09/2024 06:50:35

06:50 AM EDT, 04/09/2024 (MT Newswires) -- Asian stock markets cautiously gained Tuesday, as traders favored tech issues, noted a strong US dollar, and awaited the Wednesday US inflation report from Washington.

Hong Kong and Tokyo finished in the green, Shanghai was flat, while most other regional exchanges gained.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.1% as a soft yen assisted tech and export issues.

The benchmark Nikkei 225 rose 426.09 to 39,773.13, as gaining outnumbered losers 166 to 57.

Leading the upside was industrial robot maker Yaskawa Electric, up 7.4%, while chemical concern DIC declined 2.1%.

In Hong Kong, the Hang Seng Index opened higher and held ground, finishing up 0.6% on tech-sector strength and after a visit to China by US Treasury Secretary Janet Yellen ended without fireworks.

The broad gauge Hang Seng rose 95.22 to 16,828.07, as gaining issues outnumbered losers 59 to 17. The Hang Seng TECH Index gained 1% on the day, while the Mainland Properties Index rose 0.4%.

Leading the upside was Xinyi Solar, gaining 5.4%, while internet services giant Baidu declined 3.3%.

On the mainland, the Shanghai Composite finished flat at 3,048.54.

On the other regional exchanges, the S. Korean KOSPI fell 0.5%; the Taiwan TWSE rose 1.9%; the Australian ASX 200 gained 0.5%; the Singapore Straits Times Index added 0.7%, and the Thai Set was up 1.9%, after a three-day hiatus. In late trading in Mumbai, the Sensex was down 0.1%.

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