Asian share markets closed higher on Tuesday mainly driven by rise in commodity-related stocks for base metals and crude oil prices and HSBC climbing in Hong Kong after its results beat forecasts.
Major bourses across Asia closed marginally higher particularly Japan's Nikkei (1.1%), Australia's S&P/ASX 200 (1.5%), South Korea's Kospi Composite (0.6%) and New Zealand's NZX-50 (1.3%) higher
However the Dow Jones Industrial Average (“DJIA”) futures were down 16 points in screen trade.
According to Shinichiro Matsushita, Daiwa Securities analyst "There still is concern that the market is heading towards overheated, but the mood is positive, supported mainly by better-than-expected U.S. manufacturing data, suggesting growth in the July-September quarter.
The Dow Jones Industrial Average rose 1.3% while S&P 500 gained 1.5% to the good, in New York on Monday. Both were powered to their highest closes since Nov. 4, 2008, boosted by data indicating a rise in manufacturing activity across the globe, while many financial stocks advanced upon strong profit reporting from U.K. banking heavyweights of HSBC and Barclays.
Hong Kong's Hang Seng Index rose by 0.5%, with HSBC's 6.4% rise powering most of the gains after the bank posted decline of 57% in year to date first-half net profit, but still above analysts' expectations
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment