Investors watch tech stocks after Nasdaq hits all-time high


SINGAPORE – Asia-Pacific stocks were mixed in trading Wednesday morning following overnight gains in the states that saw the tech-heavy Nasdaq Composite hit record highs.

Mainland stocks fell in early trading, with the Shanghai Composite falling 0.16% and the Shenzhen holding falling slightly. Hong Kong’s Hang Seng index rose 0.47%.

The Nikkei 225 in Japan was below the flat line while the Topix index was down 0.36%.

Minutes of the Bank of Japan’s April monetary policy meeting, released on Wednesday, showed that members agreed that stimulus measures, particularly in advanced economies, could lead to a “faster than expected” recovery for Japan and other countries.

South Korea’s Kospi climbed 0.19%. Meanwhile, stocks in Australia fell as the S & P / ASX 200 fell 0.5%.

MSCI’s broadest index for Asia Pacific stocks outside of Japan traded 0.31% higher.

Tech stocks mixed

Asia Pacific technology stocks were mixed in trading Wednesday morning.

Hong Kong-listed Chinese tech stocks were broadly higher, with Alibaba up 1.58% and Baidu up 2.12%. However, NetEase stock lost 1.01%. The broader Hang Seng TECH index rose 0.76%.

In Japan, shares in conglomerate SoftBank Group fell 0.71%, while South Korean Naver rose 9.08%.

Those moves came after the Nasdaq Composite hit a new intraday record on Wall Street overnight, climbing 0.79% to 14,253.37 that day.

The S&P 500 also gained 0.51% to 4,246.44, while the Dow Jones Industrial Average climbed 68.61 points to 33,945.58.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its competitors, closed at 91.804 after a previous low of 91.719.

The Japanese yen changed hands at 110.76 per dollar after weakening below 110 against the greenback earlier this week. The Australian dollar was trading at $ 0.7543, staying above the $ 0.752 level it has been trading around for much of the week to date.

Oil prices rose on the morning of Asian trading hours, with the international benchmark Brent crude oil futures rising 0.43% to $ 75.13 a barrel. US crude oil futures rose 0.33% to $ 73.09 a barrel.