Asian shares mostly rise, taking cue from Wall Street gains

In this Sept. 25, 2017 photo, people are reflected on an electronic board of a securities firm in Tokyo. Asian shares were mostly higher Thursday, Oct. 12, 2017, taking their cue from the latest record highs on Wall Street. Chinese investors are holding back ahead of a key communist party meeting next week. (AP Photo/Koji Sasahara)

TOKYO — Asian shares advanced Thursday, taking their cue from the latest record highs on Wall Street. Chinese investors are holding back ahead of a key communist party meeting next week.

KEEPING SCORE: Japan's benchmark Nikkei 225 added 0.5 percent in early trading to 20,988.06. Australia's S&P/ASX 200 gained 0.2 percent to 5,785.10. South Korea's Kospi rose 0.3 percent to 2,464.88. Hong Kong's Hang Seng advanced 0.2 percent to 28,464.38, while the Shanghai Composite dipped 0.2 percent to 3,382.49.

WALL STREET: The Standard & Poor's 500 index gained 0.2 percent to 2,555.24. The Dow Jones industrial average also rose 0.2 percent, to 22,872.89, and the Nasdaq composite climbed 0.2 percent to 6,603.55. All three indexes finished at all-time highs.

JAPAN RALLY: Japan's Nikkei 225 index has closed at 21 year highs over the past few days, lifted by optimism over the latest economic data and anticipation of strong corporate results in the upcoming quarterly reporting period. Expectations are rising that an Oct. 22 nationwide election for the more powerful lower house of Parliament will reinforce a strong majority for Prime Minister Shinzo Abe's ruling Liberal Democrats, who favor tax cuts for corporations.

THE QUOTE: "Markets expect good results from the upcoming earning seasons and investors are putting bets on Prime Minister Shinzo Abe's victory in the upcoming election," says Jane Fu, sales trader at CMC Markets in Singapore.

ENERGY: Benchmark U.S. crude oil lost 26 cents to $51.04 a barrel. It rose 38 cents to $51.30 a barrel overnight in New York. Brent crude, used to price international oils, fell 31 cents to $56.63 a barrel in London.

CURRENCIES: The dollar rose to 112.41 yen from 112.26 yen. The euro rose to $1.1874 from $1.1819.

___

AP Business Writer Yuri Kageyama can be reached at https://twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

Must Read

Asian shares higher after Wall Street sets new record high

Oct 11, 2017

Asian stocks are advancing after Wall Street's main index closed at a record high and Spain's Catalonia crisis eased after an independence leader backed away from plans to break away immediately

Global stocks sink as US politics weigh on markets' outlook

Jul 18, 2017

Global shares are falling as setbacks for a health care overhaul in the U.S. raised doubts over prospects for a range of reforms backed by President Donald Trump

Canada PM, Washington governor discuss trade, climate change

May 18, 2017

Canadian Prime Minister Justin Trudeau and Washington Gov. Jay Inslee met Thursday to discuss a range of shared interests ranging from trade to climate issues.

More News From aseancoverage.com

Asian shares higher after Wall Street sets new record high

Oct 11, 2017

Asian stocks are advancing after Wall Street's main index closed at a record high and Spain's Catalonia crisis eased after an independence leader backed away from plans to break away immediately

Global stocks sink as US politics weigh on markets' outlook

Jul 18, 2017

Global shares are falling as setbacks for a health care overhaul in the U.S. raised doubts over prospects for a range of reforms backed by President Donald Trump

Canada PM, Washington governor discuss trade, climate change

May 18, 2017

Canadian Prime Minister Justin Trudeau and Washington Gov. Jay Inslee met Thursday to discuss a range of shared interests ranging from trade to climate issues.

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH

About Us

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales@aseancoverage.com

Popular News