Asia-Pacific stocks were mixed on Wednesday, as optimism continued to drive stocks, with India’s Sensex touching a record high and a rally in the shares of Australian miners.
India’s premier benchmark – the BSE Sensex – touched a record high of 56,188.49 and was currently trading 0.27% higher. The rally in India was driven by the country’s largest IT services company -- Tata Consultancy Services – whose shares were trading up 1.36%.
Down under in Australia, the rally in mining shares drove benchmark, the ASX 200, 0.27% higher. The ASX Metal and Mining Index was trading 1.58% higher. Iron ore prices, which soared 9% on Tuesday, gave mining stocks a boost.
Chinese stocks were mixed in the morning. In Chinese autonomous region, Hong Kong, the benchmark Hang Seng index slipped 0.50% after jumping earlier.
Chinese tech stocks listed in the city pared morning gains, losing steam after their Tuesday rally. Tencent Holdings’ shares gained 1.27% after an earlier rally of 3%. Food delivery giant Meituan was up 3.53%, JD.com popped 14.44%, while Alibaba lost over 1.44%, reversing morning gains.
The Shanghai Composite was up 0.36%, and the Shenzhen Component was trading near the flatline, up 0.05%.
On Tuesday, the Asian behemoth’s cybersecurity regulator said Chinese companies that wished to go public — including those planning to list overseas — must conform to two main aspects of a wider set of regulations. The remarks came after policy uncertainty this summer had essentially halted Chinese listings in the US, after a huge growth in overseas offerings earlier this year.
Stocks in Wall Street as well rallied overnight. The Dow Jones Industrial Average rose 30.55 points, or less than 0.1%, to 35,366.26. The S&P 500 added 0.1% to a new closing high of 4,486.23. The NASDAQ Composite gained 0.5% to 15,019.80, also a new closing high.