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Capital Markets

Nikkei Asia300 Index rises in May on earnings, French election cheer

HONG KONG (Nikkei Markets) -- Asian stocks outside of Japan rose in May after a market-favored outcome in French Presidential elections bolstered global sentiment, while a rally in regional technology companies kept investor spirits high.

The Nikkei Asia300 Index added 3.4% in May. Heavyweight internet giant Tencent Holdings added 9.9% this month after its March quarter earnings beat even the most optimistic estimates in a Bloomberg poll and positivity over its WeChat messaging platform sustained. Apple suppliers Taiwan's Hon Hai Precision Industry and Taiwan Semiconductor Manufacturing added at least 4% each. The Asia300 Index, however, fell 0.4% or 5.6 points to 1,229.14 on Wednesday.

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