Stocks in Asia Strengthened Their Positions on March 12

There is no lack of factors that have the potential to influence stocks. For example, most stocks in Asia-Pacific saw gains on the day. As a reminder, U.S. stocks climbed to record highs on Thursday, and this factor affected stocks on the other side of the ocean.

In Australia, the ASX 200 gained 0.79% or 52.9 points to close at 6,766.80 as most sectors finished higher. Interestingly, energy, as well as materials subindexes, added 1.47% and 1.62%, respectively as shares of oil stocks and major miners mostly advanced.

Let’s have a look at Nikkei 225. It gained 1.73% or 506.19 points to end its trading day at 29,717.83 on Friday. At the same time, the Topix index advanced 1.36% or 26.14 points to 1,951.06.

Moreover, South Korea’s Kospi added 1.35% or 40.69 points to finish its trading day at 3,054.39 thanks to tech shares. For example, Samsung Electronics gained 0.98%, and SK Hynix 2,19%. Furthermore, LG Electronics advanced 3.39%.

Mainland Chinese stocks also saw gains on the day. The Shanghai composite added 0.47% or 16.25 points to close at 3,453.08. In the meantime, the Shenzhen component gained 0.22% or 30,66 points to 13,897.03.

However, Hong Kong’s Hang Seng index dropped 1.62% in late-afternoon trade.

As stated above, U.S. stocks rose to record highs on March 11. The S&P 500 added 1% and reached a new closing high on Thursday. It surpassed its previous record from February 16.