Asia tracks strong gains in Japan, Hong Kong
U.S.-listed shares of Asian companies rose Wednesday, finding support in a strong performance in their home markets and a second day of gains on Wall Street, where traders reacted positively to a tamer-than-expected consumer inflation report.
The Bank of New York Asia ADR Index was up 1.2% at 145.41, outperforming the broader Bank of New York Composite ADR Index, up 0.7% at 151.25.
Overnight, Japans Nikkei rose 1.6% to close at its highest level since May 19. Hong Kongs Hang Seng added 1% to an almost six-year high, buoyed by the release a day earlier of U.S. producer price data that came in below expectations.
More : marketwatch.com
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Asia Roundup: Markets ride on Wall Street gains
HONG KONG: Asian stocks managed a solid rebound yesterday following Wall Streets lead as investors resigned themselves to a US rate hike later and hoped for some policy clarity from the US Federal Reserve (Fed), dealers said.
They said the gains were encouraging as they suggested investors were calmer about the prospect of higher US interest rates but much would depend on what the Fed had to say on the outlook for monetary policy.
TOKYO: Shares rallied 1.58 per cent as bargain hunters scooped up beaten down stocks, encouraged by overnight gains on Wall Street.
HK, best platform in Asia for marketing films
A survey announced Thursday that Hong Kong's twin events for the entertainment industry, the Hong Kong International Film & TV Market (FILMART) and Hong Kong-Asia Film Financing Forum (HAF), provides the best platform in Asia to market the latest products and to get financing for film productions.
About 70 percent of industry respondents described Hong Kong's FILMART and HAF platform as the most significant film event in Asia, followed by similar events in South Korea and Japan.
The survey was carried out by independent
Asia Roundup: Marts end week mostly higher
Asian stocks closed mostly higher yesterday but gains were capped by limited profit- taking ahead of the release of key US employment data due out later in the day.
Tokyo closed flat, while mild gains were registered in Hong Kong, Seoul, Singapore, Manila, Wellington and Kuala Lumpur which was also buoyed by company tax cuts announced in the Governments latest budget.
Mutual funds supported a solid finish in Mumbai while Bangkok and Jakarta were sharply higher on improved inflation numbers.
Shanghai and Sydney were lower as profit-taking won out on the day.
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Asia Roundup: Marts end on weaker note
HONG KONG: Asian markets closed mostly lower yesterday as investors took profits on Thursdays sharp gains after a volatile week marked by high oil prices and escalating violence in the Middle East, dealers said.
TOKYO: Shares fell for the first day in three as a pullback on Wall Street overnight prompted investors to lock in some of the sharp gains posted Thursday, dealers said. The Nikkei-225 index declined 125.58 points at 14,821.26.
SEOUL: Prices closed 0.15 per cent lower, slipping back after Thursdays sharp gains following a weaker Wall Street performance overnight, dealers said. The
Asia Roundup: Local issues dominate trade
HONG KONG: Asian stocks closed mixed yesterday helped partially by gains on Wall Street but dealers said local issues again dominated trade.
They said an easing in oil prices and a steady dollar had enabled investors to content themselves with domestic factors.
TOKYO: Share prices closed 0.34 per cent higher, supported by positive domestic earnings news and a jump in Wall Streets blue-chip index to a six-year high. The Nikkei-225 index advanced 58.61 points to 17,114.54. Volume was 1.65 billion shares, up from 1.61 billion Wednesday.
SEOUL: Share prices eked out narrow gains for another record finish. The
