Mixed Trend In Asian Markets

(RTTNews) - Equity markets in Asia closed on a mixed note on Wednesday ahead of the much-anticipated earnings update from NVIDIA Corp. People's Bank of China holding rates steady as well as worries about the escalation in the Russia-Ukraine conflict also impacted market sentiment.

China's Shanghai Composite Index rallied 0.67 percent to finish trading at 3,368.56. The day's trading ranged between 3,375.25 and 3,333.00. The Shenzhen Component Index gained 0.78 percent to close at 10,875.45.

The Japanese benchmark Nikkei 225 slipped 62 points or 0.16 percent to close at 38,352.34. The day's trading range was between 38,520.45 and 38,180.15.

Tokyo Gas surged close to 13 percent amidst reports of American activist investor Elliott Management taking a 5 percent stake. Sompo Holdings also rallied 11.4 percent. Seven & 1 Holdings gained 6.5 percent followed by DeNA Co that added 5.3 percent. Mercari also recorded an increase of 3.8 percent.

Tokio Marine Holdings declined close to 7 percent followed by MS&AD Insurance Group Holdings that lost 4.9 percent. Keisei Electric Railway, Odakyu Electric Railway and Sumitomo Osaka Cement, all lost more than 3 percent in the day's trading.

The Hang Seng Index of the Hong Kong Stock Exchange added 41 points or 0.21 percent from the previous close to finish trading at 19,623.39. The day's trading range was between a high of 19,752.93 and a low of 19,575.91.

Korean Stock Exchange's Kospi Index edged up 0.42 percent or 10.3 points to close trading at 2,482.29. The day's trading range was between 2,471.79 and 2,489.15.

Australia's S&P/ASX200 closed trading at 8,326.30, dropping 48 points or 0.57 percent, after setting a new 52-week high. The day's trading range was between 8,318.20 and 8,379.80.

Tabcorp Holdings, West African Resources, Healius and Genesis Minerals gained more than 2 percent. Block followed with gains of a little less than 2 percent.

Neuren Pharmaceuticals extended losses with a decline of 7.5 percent. New Hope Corporation, Karoon Energy, Brambles and Netwealth Group, all shed more than 3 percent.

The NZX 50 of the New Zealand Stock Exchange shed 79 points or 0.62 percent to close trading at 12,737.06, versus the previous close of 12,816.32. Trading ranged between 12,700.26 and 12,824.32.

EROAD topped with gains of 5.7 percent. Healthcare business Pacific Edge followed closely with gains of 5.6 percent. Synlait Milk and Genesis Energy, both rallied more than 5 percent. Summerset Group added 2.9 percent.

ANZ Holdings topped losses with a decline of 3.6 percent. Skellerup and Mercury NZ, both slipped more than 3 percent. Fisher & Paykel Healthcare declined 2.6 percent whereas Kiwi Property lost more than 2 percent.

Wall Street had closed on a mixed note on Tuesday amidst anticipation ahead of key earnings updates as well as geopolitical concerns. The Nasdaq Composite added 1.04 percent to close trading at 18,987.47 whereas the Dow Jones Industrial Average slipped 0.28 percent to finish trading at 43,268.94.