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Wall Street Cues, Earnings Outlook Elevate Asian Stock Markets

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Last updated: 04/23/2024 06:59:28

06:59 AM EDT, 04/23/2024 (MT Newswires) -- Asian stock markets generally forged forward Tuesday on overnight Wall Street cues, and earnings season outlooks.

Hong Kong and Tokyo finished in the green, although Shanghai pulled back. Other regional exchanges finished mostly higher.

In Japan, the Nikkei 225 opened higher and held ground, finishing up 0.3%.

The benchmark Nikkei 225 rose 113.55 to 37,552.16, as gaining issues outnumbered losers 126 to 97.

Leading the upside was Osaka Gas, up 4.8% after the company boosted a profit outlook. Chip-designer Socionext fell 3.7%.

In economic news, in the fiscal year ended in April, 63.1% of small- and medium-sized businesses boosted worker pay, up from

54.3% in the previous fiscal year, reported the Finance Ministry.

In Hong Kong, the Hang Seng Index opened higher and rose to the close, finishing up 1.9% on global cues and more pro-equity market affirmations from Beijing. Tech issues rallied.

The broad gauge Hang Seng rose 317.24 to 16,828.93, as gaining issues outnumbered losers 66 to 15. The Hang Seng TECH Index gained 3.4% on the day, while the Mainland Properties Index rose 1.3%.

Leading the upside was online delivery service Meituan, up 8%, while Zijin Mining lost 3.1%.

On the mainland, the Shanghai Composite fell 0.7% to 3,021.98.

On the other regional exchanges, the S. Korean KOSPI fell 0.2%; the Taiwan TWSE inclined 1%; the Australian ASX 200 inclined 0.4%; the Singapore Straits Times Index rose 1.5%, and the Thai Set inclined 0.6%. In late trading in Mumbai, the Sensex was up 0.1%.

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