Earnings, Easing Hopes Lift Asia Markets

Reported by WSJ today that most Asian markets advanced Tuesday on continued hopes for policy easing from central banks and on some positive earnings reports, with Japanese and Hong Kong stocks among those clinching a fourth straight day of gains.

“People are still hopeful that there might be some stimulus” emerging from this week’s policy meetings of the Federal Reserve and the European Central Bank, said Andrew Sullivan, principal sales trader at Piper Jaffray.

South Korea led the region’s gains as the Kospi jumped 2.1% to 1881.99. Hong Kong’s Hang Seng Index climbed 1.1% to 19796.81, Japan’s Nikkei Stock Average rose 0.7% to 8695.06 and Australia’s S&P/ASX 200 Index climbed 0.6% to 4269.2. Each of the four was up for a fourth consecutive trading day.

Defying the regional trend for the second time this week, China’s Shanghai Composite Index dropped 0.3% to 2103.63, its lowest close since March 2009.

“The worrying thing is the number of profit warnings from Chinese companies,” said Mr. Sullivan. “They are really feeling the impact from the global slowdown.”

July was mixed month for regional markets. The Shanghai Composite was the worst performer among major benchmarks, dropping 5.5% for the month; second-worse was the Nikkei, down 3.5%.

Read more

About these ads
This entry was posted in Breaking News, Business, Finance, World Economy and tagged , , , , , , , , , , , , , . Bookmark the permalink.

One Response to Earnings, Easing Hopes Lift Asia Markets

  1. Pingback: Earnings, Easing Hopes Lift Asia Markets | sramirez266

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s