Investing.com – Asian stock markets were mixed on Thursday, as shares in Chinese lenders advanced following a surprise rate hike by the nation’s central bank, while shares in Japanese power providers weighed on the Nikkei.
During late Asian trade, Hong Kong's Hang Seng Index advanced 0.55%, South Korea’s Kospi Composite rose 0.43%, while Japan’s Nikkei 225 Index edged 0.11% lower.
The People’s Bank of China on Wednesday raised its benchmark interest rate by 0.25% to 6.56%, the third rate increase this year and its fifth rate hike in the latest round of monetary tightening.
Shares in Chinese lenders gained after Barclays and Citigroup both said China’s rate increase would be positive for banks’ net interest margins.
Bank of China Hong Kong shares climbed 1.5%, HSBC Holdings rose 0.9%, while shares in the nation’s largest lender Industrial and Commercial Bank of China jumped 1.1%.
Elsewhere, shares in Japanese nuclear power utilities declined after the nation’s Trade Minister, Banri Kaieda, said the government would carry out stress tests on all nuclear reactors to address concerns in the wake of the Fukushima nuclear crisis.
Tokyo Electric Power Company shares dropped 3.35%, Kansai Electric Power Company tumbled 8.4%, while shares in Tohoku Electric Power Company plunged 8.5%.
Japanese automakers slumped after the Nikkei Business Daily reported Japan's top seven car makers were likely to post their first combined drop in consolidated net profit, with the total projected to fall 35% in the fiscal year ending next March.
Toyota shares dropped 0.8%, Honda retreated 0.95%, while shares in Nissan sank 1.6%.
The outlook for European stock markets was broadly higher ahead of a widely expected interest rate bump by the European Central Bank later in the day.
The EURO STOXX 50 futures pointed to a gain of 0.35%, France’s CAC 40 futures added 0.3%, the FTSE 100 futures eased up 0.15%, while Germany's DAX futures edged 0.2% higher.
Later in the day, U.S. payroll processing firm ADP was to publish a report on non-farm payrolls, while the country was also to release its weekly report on initial jobless claims.
During late Asian trade, Hong Kong's Hang Seng Index advanced 0.55%, South Korea’s Kospi Composite rose 0.43%, while Japan’s Nikkei 225 Index edged 0.11% lower.
The People’s Bank of China on Wednesday raised its benchmark interest rate by 0.25% to 6.56%, the third rate increase this year and its fifth rate hike in the latest round of monetary tightening.
Shares in Chinese lenders gained after Barclays and Citigroup both said China’s rate increase would be positive for banks’ net interest margins.
Bank of China Hong Kong shares climbed 1.5%, HSBC Holdings rose 0.9%, while shares in the nation’s largest lender Industrial and Commercial Bank of China jumped 1.1%.
Elsewhere, shares in Japanese nuclear power utilities declined after the nation’s Trade Minister, Banri Kaieda, said the government would carry out stress tests on all nuclear reactors to address concerns in the wake of the Fukushima nuclear crisis.
Tokyo Electric Power Company shares dropped 3.35%, Kansai Electric Power Company tumbled 8.4%, while shares in Tohoku Electric Power Company plunged 8.5%.
Japanese automakers slumped after the Nikkei Business Daily reported Japan's top seven car makers were likely to post their first combined drop in consolidated net profit, with the total projected to fall 35% in the fiscal year ending next March.
Toyota shares dropped 0.8%, Honda retreated 0.95%, while shares in Nissan sank 1.6%.
The outlook for European stock markets was broadly higher ahead of a widely expected interest rate bump by the European Central Bank later in the day.
The EURO STOXX 50 futures pointed to a gain of 0.35%, France’s CAC 40 futures added 0.3%, the FTSE 100 futures eased up 0.15%, while Germany's DAX futures edged 0.2% higher.
Later in the day, U.S. payroll processing firm ADP was to publish a report on non-farm payrolls, while the country was also to release its weekly report on initial jobless claims.