Yahoo Finance Asian Equities Rise as Nasdaq Closes At Another Record High
Investing.com – Asian equities were mostly higher in morning trade on Wednesday as the Nasdaq closed at a record high for the second day in a row.
There was some selling of Italian government bonds after the nation’s new Prime Minister Giuseppe Conte promised to bring radical change to the country, including more generous welfare and a crackdown on immigration.
In Asia, Japan’s Nikkei 225 gained 0.2% by 9:45PM ET (01:45 GMT). Official data showed on Wednesday that Japanese workers’ real wages were unchanged in April from the same period last year, compared to a revised 0.7% annual increase in March.
China’s Shanghai Composite slipped 0.2%, while the Shenzhen Component edged up 0.1% in morning trade. Reports on Tuesday suggested that China offered to increase buying of U.S. goods by $25 billion this year. Citing people familiar with the matter, the reports said China would step up purchases of crude oil, coal and farm products.
ZTE Corp (HK:0763) made headlines following reports that the company has signed a preliminary agreement that would lift a ban on buying from U.S. suppliers. The agreement includes a $1 billion penalty against the company plus $400 million in escrow to cover any future violations, reports said.
The company ceased most of its operations since April after a seven-year ban was imposed as the company was found illegally shipping goods to Iran and North Korea.
Elsewhere, Hong Kong’s Hang Seng Index climbed 0.6%, while Australia’s S&P/ASX 200 was up 0.4%.
South Korean markets were closed for a holiday.
Looking ahead, the U.S. trade balance and Australia GDP are due later today, while Japanese Prime Minister Shinzo Abe would meet with U.S. President Trump on Thursday at the White House to discuss the planned U.S. summit with North Korea’s Kim Jong Un.
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