Indian Prime Minister Narendra Modi gestures when arriving at the headquarters of the Bharatiya Janata Party (BJP) in New Delhi, India, on June 4, 2024.
Adnan Abidi | Reuters
Asia-Pacific markets were mixed on Wednesday, with Indian stocks stabilizing after a sharp sell-off in the previous session as investors assessed the outcome of India’s general election.
The Nifty 50 index edged up 0.61% and the BSE Sensex rose 0.75%.
On Tuesday, the Nifty 50 fell 5.93% and the Sensex fell 5.74%, their biggest losses since 2020, after Prime Minister Narendra Modi’s Bharatiya Janata Party failed to vote in the lower house of parliament. Can obtain an absolute majority of seats.
this All India Market Capitalization IndexOn June 4, the Mumbai stock index fell by more than 31.06 trillion rupees, or about $371 billion.
Modi remains on track for third term in power after BJP-led National Democratic Alliance 294 seats lockedmore than the 272 people needed by the coalition to form a government.
Elsewhere, Australia’s first-quarter gross domestic product increased by 1.1% year-on-year, slightly lower than the 1.2% expected by a Reuters survey.
Australia’S&P/ASX 200 Index It rose slightly by 0.45%.
However, Japan’s Nikkei 225 Index It fell 1.07%, while the broader Topix dropped 1.42%.
Korean Cospi The Kosdaq rose 1.13%, with the small-cap Kosdaq rising 0.45%.
Hong Kong’s Hang Seng Index rose 0.33%, and mainland China’s CSI 300 Index fell 0.33%.
Overnight, the U.S. Dow Jones Industrial Average rose as Wall Street sought to regain its footing after a rocky start to the month.
The 30-stock Dow Jones Industrial Average rose 0.36%, the S&P 500 rose 0.15% and the Nasdaq rose 0.17% to 16,857.05 points.
U.S. Treasury yields were significantly lower, with the benchmark 10-year Treasury note sliding about 7 basis points.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
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