Asian Shares Mixed; Seoul Market Recoups Early Losses
Business
Asian Shares Mixed; Seoul Market Recoups Early Losses
Asian shares were mixed Wednesday, with the Seoul market mounting a strong recovery after an early selloff as investors took the view that geopolitical tensions in the Korean peninsula will be short-lived. Japan's Nikkei Stock Average was down 0.7%, Australia's S&P/ASX 200 fell 0.3%, and South Korea's Kospi Composite was down 0.4% after losing as much as 2.4% in morning trade. The Shanghai Composite Index was up 0.2%, while Hong Kong's Hang Seng Index rose 0.5%, Taiwan's main index lost 0.2% and India's Sensex gained 0.2%. Dow Jones Industrial Average futures were 47 points higher in screen trade. Sentiment took a hit initially as many Asian investors got their first chance to react to Tuesday's brazen North Korean artillery attack on a South Korean island, but buying quickly picked up on receding fears of a rapid escalation in the conflict.
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