International
Property, Tech Sectors Undergird Asian Stock Markets
Asian stock markets somewhat shrugged off Middle East turmoil, with tech shares rising on earnings outlooks, and China property issues gaining after a Beijing report indicated the struggling sector may be firming.Exchanges in Japan were closed on holiday.Hong Kong and Shanghai finished in the green, while other regional exchanges were uneven.In Hong Kong, the Hang Seng Index opened higher and rose to the close, finishing up 1.7% in a property-sector-led rally.The broad gauge Hang Seng rose 432.06 to 26,111.84, as gaining issues outnumbered losers 77 to 13. The Hang Seng TECH Index gained 1.7% on the day, while the Mainland Properties Index rose 4.5%.Leading the upside was China Overseas Land, gaining 8.9%, while pork purveyor WH Group declined 5.8%.On the mainland, the Shanghai Composite rose 0.7% to 4,107.51.In economic news, China's housing markets are showing signs of recovery, with transaction volumes in major cities rising in March and price declines shrinking, "indicating a gradual return of buyer confidence and improving market liquidity," reported the official State Council Information Office.On the other regional exchanges, the S. Korean KOSPI rose 0.8%; the Taiwan TWSE declined 0.5%; the Australian ASX 200 declined 0.3%; the Singapore Straits Times Index fell 0.6%, and the Thai Set inclined 0.8%. In late trading in Mumbai, the Sensex was up 0.8%.MSCI All Country Asia Pacific Index rose 0.1%.
$^HSI$^N225$^SSEC