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Asia markets exposed varied; ASX down 0.4%, Nikkei up 0.7%

Asia markets exposed varied; ASX down 0.4%, Nikkei up 0.7%

Asian markets opened mixed on Wednesday, as the point of view hit from a lower end in the US stock market offset the good effect of a rise in oil prices.

Australia’s benchmark ASX 200 was down 0.37 % in early trade, with the heavily-weighted financials sub-index downwards 0.69 percent. In New Zealand, the NZX 50 was higher by 0.63 percent in mid-morning trade.

Analysts indicate the approval of the Shenzhen-Hong Kong Stock Connect was part of China’s efforts to open up its financial sector to make it more insistent by international standards.

Net profit of Australian biotechnology firm CSL reported after tax of USD 1.24 billion for the full year terminated June 30, slipping from USD 1.38 billion booked in the previous year. Profit was pulled by CSL’s acquisition of a money-losing flu vaccine business from Novartis.

 Underlying net profit after tax, eliminate the loss from the Novartis flu vaccine acquisition, was up 5.2 %. Investors, however, appeared suspicious, as CSL shares sold off 5.84 percent in morning trade.

Stateside, the Dow Jones industrial average pulled 84.03 points, or 0.45 percent, to 18,552.02; the S&P 500 index ended 12 points lower, or 0.55 percent, at 2,178.15 and the Nasdaq cut down 34.90 points, or 0.66 percent, up to 5,227.11.

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