INVESTING.COM – Shares in Hong Kong put in a strong showing Wednesday but other markets in the region were subdued with the focus on rallying gold stocks.
Hong Kong has rallied this week, gaining some 2.8% so far. At mid-morning, the Hang Seng Index was up 0.82% to 26,089. The market on track to put one of its strongest showings in about four months. Chinese blue chips have been in focus, climbing about 1% on the Hong Kong market.
Markets in China were weaker. The Shanghai Composite Index was down 0.20% to 3196.56 as of mid-morning.
Underscoring the regional trend down, Japan's Nikkei Index took a breather, dropping 0.66% to 20,062.50 by the lunch break while South Korea's Kospi Index was down 0.14% to 2,392.69.
The market in Thailand edged up 0.19% to 1,572.15 while the much bigger market in Singapore also edged down with the FTSE Straits Times Index down 0.36% to 3,207.23.
Bucking the downward trend, shares in Manila climbed 0.73% to 4,748.75.
Investors across Asia are now looking forward to a raft of economic data coming out on Thursday and Friday as well as the testimony of US Federal Reserve chair Janet Yellen, which should give some indication as to whether and when the Fed might raise interest rates again. A third rate hike this year could hit stocks in Asia markets.