Asia Markets Closing Report | Wednesday, April 27, 2022:
Source: cnbc.com Major Chinese indexes surge more than 2%, bouncing back from days of losses Eustance Huang 4-5 minutes SINGAPORE — Shares in Asia-Pacific were mixed on Wednesday as mainland Chinese stocks bounced back after days of losses. The Shanghai Composite gained 2.49% to close at 2,958.28 while the Shenzhen Component soared 4.372% to 10,652.90. The CSI 300, which tracks the largest mainland-listed stocks, rose 2.94% to 3,895.54. Hong Kong's Hang Seng index rose about 0.2%, as of its final hour of trading. China's industrial profits rose 8.5% year-on-year in the January-March period, official data showed Wednesday. "I actually am quite impressed at how industrial production and profits have held up in China so far and I actually think that the Covid impact will not be as great as perhaps some analysts think," David Chao, global market strategist for Asia-Pacific ex-Japan at Invesco,