Asian markets opened on positive note on Thursday (April 24), on speculation that technology companies will post better-than-expected earnings and a cut in trading tax by China will boost investor confidence.
Samsung Electronics advanced after Broadcom reported first-quarter profit better than the analyst estimates. Qualcomm advanced after it raised its earnings forecast.
Japanese benchmark index Nikkei rose 51.71 points, or 0.38%, to trade at 13,630.87.
Hong Kong`s index Hang Seng rose 570.42 points, or 2.26%, to trade at 25,859.66.
China`s Shanghai Composite advanced 294.94 points, or 9%, to trade at 3,573.27.
Taiwan`s Taiex index rose 37.08 points, or 0.41%, to trade at 9,045.57.
South Korea`s KOSPI rose 9.98 points, or 0.55%, to trade at 1,810.77.
Singapore`s Straits Times rose 39.87 points, or 1.25%, to trade at 3,233.71. (8.10 a.m., IST)
Indian ADRs gain as US markets rebound
US stocks ended with a moderate advance on Wednesday (April 23) after a better-than-expected profit report at Boeing and a up-and-down day in the energy markets. The Dow Jones industrial average rose 42.99 points, or 0.34%, to 12,763.22. The NASDAQ composite index added 28.27 points, or 1.19%, to 2,405.21. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, rose to 3.74% from 3.69% late Tuesday. Majority of Indian ADRs ended on a positive note on Wednesday barring HDFC Bank that ended marginally lower 1.16% at USD 106.83.
Gainers:
Company USD % Gain Sterlite 20.98 1.60 ICICI Bank 43.63 0.05 Wipro 12.27 3.81 Infosys 42.19 2.08 Satyam 23.53 1.12 Tata Motors 16.03 2.69 MTNL 5.59 1.64 Tata Communications 24.04 1.65 Dr Reddy`s 15.68 2.48 Patni Computers 12.94 3.11
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