Asia Stocks Outside Japan Rebound as U.S. Calms Korea TensionsBy
South Korea’s Kospi rebounds as bargain hunters seek out value
Japan shares fall after holiday, catching up with global rout
Most Asian equities rose as concerns over tensions between the U.S. and North Korea eased after American officials talked down the possibility of an imminent nuclear war.
The MSCI Asia Pacific Index fell 0.1 percent to 158.24 as of 4:44 p.m. in Hong Kong even as gainers outpaced decliners by 16 stocks, while a regional gauge excluding Japan equities gained 0.8 percent, recovering from its steepest three-day drop since November. South Korea’s Kospi rebounded from its worst week since June 2016, while the Topix fell as the market reopened after a holiday during which global equities retreated.
“Military advisers willing to speak to the press reveal there is no good scenario for the use of force,” Michael Every, a senior Asia-Pacific strategist at Rabobank wrote in a note.
- Hang Seng Index +1.4%, Hang Seng China Enterprises Index +1.3%
- Kospi +0.6%, Kospi 200 Index +0.7%
- Japan’s Topix Index -1.1%, Nikkei 225 Index -1%
- Australia’s S&P/ASX 200 Index +0.7%, New Zealand’s NZX 50 +0.6%
- Singapore’s Straits Times Index +0.7%, FTSE Bursa Malaysia KLCI Index +0.3%, Philippine Stock Exchange PSEi Index +0.4%, Jakarta Composite Index +0.7%, Vietnam’s VN Index +0.5%, Thailand markets closed for a holiday
- India’s S&P BSE Sensex Index +0.9%