Asian indices recovered after a weak start Tuesday, led by ship builders. Asian stocks were weak initially on concerns over the state of the US economy following poor housing data. Trade was very thin, but the downside was limited as stocks quickly bounced back.
China Life climbed 7.4 per cent after reporting that first-half profit more than doubled to 23.3 billion yuan ($3.1 billion) on returns from stock-market investments.
Foster's climbed 4.3 per cent. The company boosted second-half profit 16 per cent after increasing sales of more profitable beers and hiking prices for wine.
Hyundai Heavy, the world's biggest shipbuilder, added 4.2 per cent. Samsung Heavy Industries, the second largest, advanced 3.9 per cent.
STX Shipbuilding, the world's sixth-largest shipbuilder, rose 4.7 per cent after the company said it received a $215 million order from Europe to build four bulk carriers.
In Japan, the benchmark Nikkei ended the morning session up 31 points at 16,332.06. The broad TOPIX Index finished at 1,590.18, up 0.15 per cent.
Hong Kong’s Hang Seng added 65 points or 0.28% to 23,642.86 and South Korea’s KOSPI gained 25 points or 1.37% at 1,827.78. Singapore’s Straits Times, however, fell 12 points or 0.36% to 3,376.38.
China Life climbed 7.4 per cent after reporting that first-half profit more than doubled to 23.3 billion yuan ($3.1 billion) on returns from stock-market investments.
Foster's climbed 4.3 per cent. The company boosted second-half profit 16 per cent after increasing sales of more profitable beers and hiking prices for wine.
Hyundai Heavy, the world's biggest shipbuilder, added 4.2 per cent. Samsung Heavy Industries, the second largest, advanced 3.9 per cent.
STX Shipbuilding, the world's sixth-largest shipbuilder, rose 4.7 per cent after the company said it received a $215 million order from Europe to build four bulk carriers.
In Japan, the benchmark Nikkei ended the morning session up 31 points at 16,332.06. The broad TOPIX Index finished at 1,590.18, up 0.15 per cent.
Hong Kong’s Hang Seng added 65 points or 0.28% to 23,642.86 and South Korea’s KOSPI gained 25 points or 1.37% at 1,827.78. Singapore’s Straits Times, however, fell 12 points or 0.36% to 3,376.38.