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Asia Pacific equities started Thursday on a positive note and technology stocks bounced back following sharp losses in the previous session.
Japan’s Topix index rose 1 per cent after a 1.4 per cent fall in the previous session. The IT sector ticked 1.5 per cent higher and industrials rose 1.1 per cent. Nintendo and Tokyo Electron rose 2.4 per cent and 2.7 per cent respectively.
Hong Kong’s Hang Seng index was up 0.9 per cent after falling 2.1 per cent in the previous session as investors locked in gains. The technology sector jumped 2.6 per cent with Apple supplier AAC Technology and heavyweight Tencent up 3.9 per cent and 2.5 per cent, respectively. The Hang Seng China Enterprises index of Hong Kong-listed large-cap Chinese stocks rose 1 per cent following a 2.8 per cent fall on Wednesday.
In Sydney the S&P/ASX 200 rose 0.7 per cent as financials rose 0.9 per cent and materials edged up 0.2 per cent.
US equities struggled for direction overnight with the S&P 500 ending the day barely changed at 2,629 as the tech sector sub-index rose 0.9 per cent and energy was off 1.3 per cent on lower oil prices.