Stocks in Asia rose Wednesday, with China leading a turnaround from a weak open, with Japan’s Nikkei going the other way and turning lower after an upbeat open..
Chinese stocks overcame a rough beginning to trade higher. The Shanghai Composite SHCOMP, +0.33% was up 1.5% after falling 2.3% Tuesday. Smaller-cap stocks in Shenzhen 399106, -0.24% were also modestly higher. The energy sector, like elsewhere in the region, is the sore spot in China after the overnight plunge in oil prices. But financials were broadly up.
The Nikkei 225 index NIK, +0.37% rose 0.6%, with electronics and cosmetics strong, rising 2-4%. Hong Kong stocks seesawed following Tuesday’s sharp selling. The Hang Seng HSI, -0.41% gained 0.5% in early trading, then was off 0.3%, only to turn higher by about 0.9%. Tencent 0700, -0.86% rebounded more than 1% while China Construction Bank 601939, +2.73% was barely up after an unsurprising set of third-quarter results. And oil stocks were down some 4% to match Tuesday’s plunge in crude. West Texas Intermediate crude CLZ8, +0.14% was higher Wednesday by 0.2%.