Asian Markets Track Wall Street Higher

Asian markets were mostly higher during the morning Asian trade session. Trader sentiment was largely positive as the Asian and Pacific Rim markets tracked overnight gains during the North American trade session on Wall Street.

In Japan, the Nikkei 225 was higher. The Nikkei added over 0.8 percent. In Tokyo, the broader Topix index was up 0.4 percent. Shares of Fast Retailing, the corporation that owns Uniqlo chain of apparel stores, were up five percent. The company did report a better than eight percent fall in their annual operating profit. This was for the three months that finished on November 30.

In Japanese economic news, government data showed that the nation’s household spending for November was down. This number lost more than expected. It fell 0.6 percent annually. The markets expected a fall of 0.1 percent.

In South Korea, the Kospi composite index was up 0.1 percent.

The Asian Markets in Australia and China Largely Positive

In Australia, the benchmark S&P ASX 200 reversed early gains to trade virtually flat.

The stock markets in China, which are under scrutiny as of late as the ongoing trade war with the United States continues, were both higher in early trade. The Shanghai composite was up better than 0.2 percent. The smaller Shenzhen composite was up a fraction. This index was up 0.293 percent.

In Hong Kong, the Hang Seng index was also up a fraction.