Asia stocks rose on Thursday, tracking an overnight rally on Wall Street, while the safe-haven Japanese yen was held in check as global markets regained a semblance of calm after the Brexit shock.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.5 percent, pulling further away from a one-month low on Friday when it plunged more than 3 percent in reaction to Britain's decision to leave the European Union. The index has dropped about 0.8 percent in the April-June quarter.
"While the full consequences of Brexit are still uncertain, the one thing it has accomplished very successfully is dropping global bond yields to new lows and keeping global monetary policy looser for longer," wrote Angus Nicholson, market analyst at IG in Melbourne.
Japan's Nikkei share average erased earlier gains to end almost flat on Thursday, but suffered its biggest monthly decline in four years as the shock of Britain's vote to leave the European Union sowed deep uncertainty.
The Nikkei ended up 0.06 percent at 15,575.92, giving up most of an earlier rise of almost 1.4 percent while the broader Topix ended down 0.15 percent to 1,245.82, hurt by the yen's rebound.
China stocks ended little changed on Thursday as investors took profits on this week's rebound after heavy selling last week triggered by Britain's vote to leave the European Union.
The blue-chip CSI300 index rose 0.1 percent to 3,153.92, while the Shanghai Composite Index lost 0.1 percent to 2,929.61 points.
Hong Kong stocks extended their bounce on Thursday, tracking global markets as fears stemming from Britain's vote to leave the European Union continued to abate.
The Hang Seng index rose 1.8 percent, to 20,794.37, while the China Enterprises Index gained 1.7 percent, to 8,712.89 points.
For June, both indexes were flat.
During the first half of 2016, the HSI fell 5.1 percent, while the HSCE was down 9.8 percent.
Reference: Reuters
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