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Gold and other metals prices settled higher on Wednesday, getting a boost from the Chinese central bank’s decision to cut the reserve-requirement ratio for banks in an aim to boost growth.
Gold for April delivery GCJ5, +0.59% added $4.20, or 0.3%, to settle at $1,264.50 an ounce after falling by more than $16 on Tuesday.
Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, -0.89% ) down 0.6%
Hong Kong (Hang Seng Index HSI, +0.56% ) up 0.5%
Shanghai (Shanghai Composite Index SHCOMP, +0.99% ) up 1% (at break)
Sydney (S&P/ASX 200 XJO, +0.68% ) up 0.5%
Seoul (Kospi SEU, -0.67% ) down 0.8%
Mumbai (Sensex 1, +0.44% ) flat
Taipei (Taiex Y9999, -0.31% ) down 0.4%
Concerns about Greece's plans to renegotiate its bailout rattled most Asian markets on Thursday and put pressure on the euro, but Shanghai and Hong Kong rallied after China cut the amount of funds banks must hold in reserve.
Traders mostly took their cue from New York, which was hit by news that the European Central Bank would not allow Greek lenders to use government bonds to borrow cash, cutting off much needed access to liquidity.
Tokyo tumbled 1.00 per cent despite a surge of more than 10 per cent in Sony, while Sydney, which has risen for the past 10 sessions, was 0.15 per cent higher. Seoul shed 0.76 per cent and Taipei lost 0.32 per cent, while Singapore dipped 0.50 per cent.
MALAYSIA share prices opened flat on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.77 points to 1803.79.
Volume was 26.49 million lots worth RM13.15 million.
Losers outnumbered gainers 68 to 58.
MALAYSIA share prices closed higher on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 21.76 points to 1,803.02. Volume was 2.5 billion lots worth RM2.7 billion. Gainers outnumbered losers 467 to 399.
