European stocks showed a mixed performance while Asian markets rose
Stock markets in Asia and Europe had a mixed day, with most stock markets in the Asia-Pacific region rising across the board while European markets had a mixed day. While South Korea's bullish rally moved Asian markets, European stocks were under pressure from lower quality luxury stocks.
South Korea leads Asia's stock rally.
South Korea topped Asia-Pacific shares on Wednesday, helped by gains in technology stocks. South Korea's Kospi closed the day up 1.98% at 2,450.08, its highest in two weeks, while chip giant Samsung Electronics gained 2.71%.
Japan's Nikkei 225 rose a significant 0.6% to 31,936.51, hitting a more than two-week high. This calm can be attributed to a recent Reuters Tankan survey, which found business morale unchanged among major Japanese companies.
Hong Kong's Hang Seng Index was up 1.4% in late trading hours, on course for a fifth consecutive session high. Investor optimism in Hong Kong rose on Wednesday after Bloomberg reported that the government is considering boosting construction investment to bolster the economy.
Mainland Chinese markets finished higher, with the benchmark CSI 300 index up 0.28% to 3,667.55.
European stocks show mixed returns
European shares fell on Wednesday, with luxury conglomerate LVMH dragging the sector lower on disappointing sales and Novo Nordisk added Ozympic after a positive update on its diabetes treatment.
The pan-European stock index STOXX 600 rose 0.1% for the week, with most regional markets neutral. France's blue-chip index FCHI is lower than most, posting a 0.6% drop on daily charts.
LVMH fell to a 6.6% 10-month low after reporting a 9% rise in third-quarter revenue, pointing to slower growth as a large post-expenditure charge. Shares in Hermès and Kering each fell more than 2 percent.
Vintage Finance is committed to in-depth research and reporting on traditional financial news, tracing the journey of world markets and economies from the Stone Age to the Stone Age.
