Asian stocks show mixed performance
On Wednesday, Asia stocks demonstrated mixed performance, just a day after China dropped a hint at its intention to open up its equity markets to foreigners.
The Nikkei Stock Average leapt 0.5%, while Australian S&P/ASX sagged 0.1%, Korean Kospi tumbled 0.4%.
In Hong Kong, the Hang Seng Index edged up 0.3%, and both the Shenzhen Composite Index as well as the start-up focused ChiNext Index gained 0.2%.
Late on Tuesday, China told it’s going to throw open a trading link between Hong Kong and the tech giant Shenzhen exchanges, while scrapping crucial limits on how much foreigners can inject in the country’s stocks in an attempt to entice global investors into its markets.
Daily trading inflows into both Shanghai and Shenzhen. China’s other key market, will remain capped at approximately 13 billion Yuan a day and a great number of Shenzhen-listed companies still won’t be easily accessible.
Early on Wednesday, the Japanese yen was trading weaker to the greenback, giving up some of the steep revenues of the last session, after Japan’s top currency statesman gave a fresh warning that the government would act in case of another yen’s leap.