Asia Shares at 10-Year High
Asia Shares at 10-Year High

Asia Shares at 10-Year High

Asia Shares at 10-Year High

Upbeat earnings reports helped drive global stock markets to record highs on Wednesday, as investors turned their focus to a US Federal Reserve meeting for fresh insight on the outlook for monetary policy in the world’s biggest economy.
Oil prices extended a bull run on hopes that major producers would maintain their output cuts. The dollar firmed ahead of a Fed rate decision and digital currency bitcoin surged to a record high, news outlets reported.
The pan-European STOXX 600 index climbed to its highest level since August 2015 as stock markets in London and Frankfurt gained 0.5 to 1.2% in early trade.
That followed a rally in Asia, where stock markets hit 10-year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9%, led by a 1.3% jump in South Korea.
Japan’s Nikkei 225 average finished up 408.47 points or 1.86% at a 21-year high of 22,420.08, while the broader Topix index closed 1.17% higher at 1,786.71.
Shares of Japanese multinational Sony rose more than 11%, after the company announced record annual profit in 2017 owing to strong sales of semiconductors and favorable exchange rates.
South Korea’s economic growth accelerated to its fastest pace in seven years last quarter. Growth in Taiwan during the same period was the strongest in 2 1/2 years.
Seoul stocks rallied to close at fresh record highs, led by technology shares. The benchmark Kospi jumped 33.04 points or 1.31% to finish at 2,556.47. Market heavyweight Samsung Electronics climbed 3.9% to close at 2,861,000 won, while Samsung SDI jumped as much as 9% and SK Hynix added 3.8%, RTTNews reported.
Australian shares gained ground as Chinese steel futures rose and the latest survey from the Australian Industry Group revealed growth in the country’s manufacturing sector for the thirteenth successive month in October. The benchmark S&P/ASX 200 rose 28.80 points or 0.49% to 5,937.80 while the broader All Ordinaries index ended 29.10 points or 0.49 percent higher at 6,005.50.
India’s Sensex was up over 1% to touch a record high after data showed core sector growth hit a six-month high in September and the World Bank’s Doing Business 2018 report ranked India among the top 10 ‘improvers’ globally in ease of doing business.
Benchmark indexes in Taiwan, Singapore and Indonesia were up between 0.1% and 0.3% while Malaysia’s KLSE Composite index was declining 0.2%.

Short URL : https://goo.gl/69Le2R
  1. https://goo.gl/CSYgA4
  • https://goo.gl/NBzgUU
  • https://goo.gl/BonTJ3
  • https://goo.gl/LN4fD2
  • https://goo.gl/2Tcgup

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
World Shares Snap Five-Day Losing Streak
World stocks steadied near three-week lows on Wednesday and...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...
Egypt to Get $2b From IMF in July
Egypt is set to be given the fourth $2 billion tranche of the...

Add new comment

Read our comment policy before posting your viewpoints