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Most Asian markets end higher after volatile trade

28 May 2013 Evaluate

Most Asian equity markets ended higher, although gains were modest due to lack of fresh triggers. Japan’s Nikkei recovered and ended higher after plunging sharply in early trades presumably on some heavy selling by hedge funds. Chinese market ended at an over two-month high, boosted by gains in heavyweight financial counters and property developers on rotational buying following a retreat in small cap stocks. Hong Kong market went home with green mark with heavyweight China Taiping Insurance surging nearly 12% after it announced a $13.3 billion restructuring plan while its rivals slipped on a downgrade.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,321.32

28.24

1.23

Hang Seng

22,924.25

238.20

1.05

Jakarta Composite

5,176.23

91.10

1.79

KLSE Composite

1,776.16

9.03

0.51

Nikkei 225

14,311.98

169.33

1.20

Straits Times

3,406.08

14.78

0.44

KOSPI Composite

1,986.22

6.25

0.32

Taiwan Weighted

8,263.05

-17.05

-0.21

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