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Asian markets give back some early gains; Tencent surges

Asian markets jumped to early gains Thursday, but started to slide back as the trading day progressed.

Equities in the region got an initial boost after Wall Street’s recovery in Wednesday trading. Japan’s Nikkei

NIK, +0.44%

  was off its morning high, but still in positive territory by midday in Tokyo.

Hong Kong’s Hang Seng Index

HSI, -0.02%

  was treading water after giving up early gains. Tech giant Tencent Holdings Ltd.

0700, +4.59%

  was last up 4% after surging 7% in early trading following a positive quarterly earnings report.

South Korea’s Kospi

SEU, -0.03%

  rose slightly despite a pullback from Samsung Electronics

005930, -0.40%


Chinese indexes in Shanghai

SHCOMP, -0.25%

  and Shenzhen

399106, -0.25%

  were modestly lower. Singapore’s Strait Times Index

STI, +0.17%

  was in the green following three straight days of losses, and Malaysian stocks

FTSE, -1.38%

  advanced as well, led by bank gains.

In Australia, the S&P/ASX 200

XJO, -0.36%

  was down after a new report showed unemployment rising in April. New Zealand’s index

NZ50GR, +0.68%

  made up about half of the previous day’s losses, as A2 Milk

ATM, +4.16%

  rebounded somewhat following a 13% plunge Wednesday after it issued a warning about its yearly revenue outlook.

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