Asian stocks gain on Japan earnings optimism, China rebound

Hong Kong - Asian shares rose, throwing off morning weakness as Japanese shares climbed for the first time in three days while Chinese stocks erased declines in afternoon trading.

The MSCI Asia-Pacific Index gained 0.1% at 5:25 in Hong Kong. Japan’s Nikkei came within two points of the 20 000 milestone before paring that gain, closing at 19 919.82.

Tokyo stocks climbed as investors maintained positive sentiment on corporate earnings outlook. Shares in Shanghai and Shenzhen rebounded amid mounting speculation that policy makers are trying to stabilize the market.

MSCI announced the results of its May 2017 semi-annual index review which included replacing China Huishan Dairy Holdings with Meitu and removing Cathay Pacific Airways from regional indexes.

Pakistan’s benchmark index fell almost 1% after eight consecutive days of gains after MSCI said six Pakistani stocks will be added.

The index provider last June announced that it will reclassify the nation’s indexes to emerging markets, coinciding with the current semi-annual index review.

Summary

Shanghai Composite Index +0.7%, Hang Seng Index -0.1%, HSCEI -0.2%, Taiex -0.1%. Chinese stocks erase early declines amid suspected state support Sensex +0.8%, Nifty 50 +0.7%.

Indian stocks rise, Led by Exporters, metals on earnings outlook Australia’s S&P/ASX 200 +0.2% Japan’s Topix +0.3%, Nikkei 225 +0.3% .

Stratis Times Index -1.1%, FTSE Bursa Malaysia KCLI little changed, SET Index +0.6%, JCI -0.7%.