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ASIA PACIFIC [Star, The (South Africa)]
[June 25, 2014]

ASIA PACIFIC [Star, The (South Africa)]

(Star, The (South Africa) Via Acquire Media NewsEdge) Stocks climbed yesterday and Hong Kong stocks rebounded from the previous session's 1.7 percent slump.

The MSCI Asia Pacific index had gained 0.2 percent to 144.94 by 6.33pm in Hong Kong as utilities advanced. The Hang Seng index rose 0.3 percent and the Hang Seng China enterprises index and the Shanghai composite index both added 0.5 percent.

Gail India, a distributor of natural gas, jumped 4.6 percent in Mumbai to lead power companies higher. Coolpad Group jumped 13 percent in Hong Kong after the smartphone maker said profit increased. Inpex, a Japanese oil explorer, tumbled 3.3 percent as the price of crude oil slid.

"After a lacklustre start, most of the major markets in the Asian region have turned positive despite a lack of leads to drive sentiment," Stan Shamu, a market strategist at IG, wrote in a note.

"Markets in China have somewhat found their footing after a dismal session [on Monday]." - Bloomberg The Star (c) 2014 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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