In Tokyo, the Nikkei 225 was up 0.3 per cent at 38,068.22, while South Korea’s Kospi was flat, at 2,632.24. Australia’s S and P/ASX 200 added 0.1 per cent to 8,149.00.
Shares of Eraaya Lifespaces hit a fresh 52-week high on the BSE on Wednesday. The counter opened at Rs 2279.65 with a gain of 5 per cent from the previous close of Rs 2171.10. The 52-week high of the stock is Rs 2,279.65 and the 52-week low is Rs 32.27. The market cap of the company is Rs 4,190 crore.
Meanwhile, Asian shares pushed higher on Wednesday, again led by gains in China, after US stocks climbed to more records in a quiet day of trading.
Chinese property developers surged after Beijing announced a flurry of measures aimed at reviving the housing market after a prolonged downturn. That news also boosted prices for oil, copper and other commodities.
Early Wednesday, US futures were lower and oil prices also declined.
Hong Kong’s Hang Seng index jumped 1.8 per cent to 19,346.68, after gaining more than 4 per cent the day before. The Shanghai Composite index surged 1.8 per cent to 2,913.47 following the announcement of concerted efforts to prop up the world’s second-largest economy.
“Chinese policymakers are throwing everything they’ve got to fight off deflation and breathe life into growth. Will it work long-term? Who knows,” Stephen Innes of SPI Asset Management said in a commentary.
“But for now, Chinese stocks are gobbling up these stimulus efforts like they’re at an all-you-can-eat buffet,” he said.
In Tokyo, the Nikkei 225 was up 0.3 per cent at 38,068.22, while South Korea’s Kospi was flat, at 2,632.24. Australia’s S and P/ASX 200 added 0.1 per cent to 8,149.00.
On Tuesday, US stocks drifted to more records, with the S and P 500 closing 0.3 per cent higher at 5,732.93, the 41st all-time high for this year. Gains were tentative, though, and the index wavered up and down following a surprisingly weak report on US consumer confidence.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)