Australia caps a sunny quarter in mostly mixed Asia-Pacific stock action
Bullish milestones for Australia and New Zealand as Japan’s Nikkei pulls out June gain and China down 10% for quarter
Asia-Pacific stocks were mixed on Friday, the last trading day of an up-and-down second quarter.
Australian stocks emerged as stars with June’s out performance, allowing Australia’s key index XJO, -0.33% to hit levels last seen at the start of 2008 and New Zealand’s benchmark NZ50GR, -0.62% to log a series of record closing highs. Both gave up early Friday gains to close lower for the session, but the move did little to tarnish the quarter.
Japan’s Nikkei NIK, +0.15% rose 0.2% after mixed trading Friday, as it barely gained for June but avoided logging a fourth monthly drop out of the past five. The transportation and oil sectors fared the worst, with Japan Petroleum Exploration 1662, +0.03% and Inpex 1605, -0.09% each down more than 2%. Sharp Corp. 6753, +15.19% skyrocketed after the company dropped a plan to issue as much as $2 billion in new shares.
In China, the Shanghai Composite SHCOMP, +2.17% rose 2% after four days of losses, but will record a 10% loss for a quarter that landed it in correction territory. Hong Kong’s Hang Seng Index HSI, +1.61% was up 1.6% for the session, though down 3.7% for the quarter.
South Korea’s Kospi SEU, +0.51% flitted between gains and losses but its firmer finish snapped a three-day losing streak after notching a 13-month closing low Thursday. Samsung Electronics 005930, -0.32% fell, though other tech companies gained.