Most of the Asian equity indices barring Straits Times are trading higher in early deals on Thursday, with investors indulging in some bargain hunting after the previous session's setback. The rebound in Hong Kong and Shanghai, and emerging-market currencies advanced with metals before Chinese factory data, also supported the uptrend. Japanese stock market gained after data showing a larger than expected rise in core machine orders in January lifted investor sentiment. The core machine orders in Japan climbed a seasonally adjusted 13.4 percent on month in January that blew away forecasts for an increase of 7.1 percent following the 15.7 percent contraction in December. China’s stock market was trading up before today’s industrial production data and the closing ceremony of the National People’s Congress. Among other markets in the Asia-Pacific region, Hong Kong, Shanghai, Indonesia, South Korea and Taiwan are trading notably higher. Malaysia is up marginally, while Singapore is trading modestly lower.
Shanghai Composite increased 25.27 points or 1.26% to 2,022.96, Hang Seng rose 95.63 points or 0.44% to 21,997.58, Jakarta Composite soared by 30.7 points or 0.66% to 4,715.09, KLSE Composite climbed 1.69 points or 0.09% to 1,820.29, Nikkei 225 surged by 61.28 points or 0.41% to 14,891.67, KOSPI Composite spurted by 10.41 points or 0.54% to 1,942.95 and Taiwan Weighted was up by 65.38 points or 0.75% to 8,750.11.
On the flip side, Straits Times was down by 8.34 points or 0.27% to 3,089.09.