Some Asian markets rebounded Thursday following Wall Street’s reversal of sharp intraday losses overnight on the back of higher oil prices, but it wasn’t enough to support the Chinese, Australian and Hong Kong markets.
China’s Shanghai composite was lower by 1.22 percent, while the Shenzhen composite dropped 1.4 percent. Concerns were raised over China this week after the People’s Bank of China set the yuan mid-point rate notably lower at 6.5273 to the dollar on Tuesday, down 0.17 percent from Monday’s fix. Today’s mid-point was set at 6.5318.
Hong Kong’s Hang Seng Index was down 0.65 percent, while the Japanese benchmark Nikkei 225 index was up about 0.5 percent. Across the Korean Strait, the Kospi gained 0.41 percent.
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