Up except for Tokyo

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HONG KONG: Asian markets mostly rose yesteriday as eurozone debt concerns were eased after Spain unveiled swingeing cuts in a budget that is expected to pave the way for a bailout.
Tokyo stocks closed lower in light trade as dealers look ahead to the release of key China data next week.
The Nikkei 225 Index ended 79.71 points lower at 8,870.16, or 0.89 per cent, while the Topix index of all first-section issues slipped 1.10 per cent, or 8.17 points, to 737.42.
“September is traditionally not a good month for equities, but we’ve managed to pull through decently…,” an equity trading director at a foreign brokerage told Dow Jones Newswires.
“Looking forward to next week, however, the pressure will be back on, with the Japan quarterly Tankan (Japanese economic sentiment survey) not likely to be rosy,” the dealer said.
Chinese shares closed higher on the last day of trade ahead of a week-long holiday. The benchmark Shanghai Composite Index gained 29.85 points, or 1.45 per cent, at 2,086.17.
And Zheshang Securities analyst Zhang Yanbing said the gains were also lifted by “speculation the securities regulator may launch new policies… to boost market performance”.
Seoul rose 0.38 per cent, or 7.51 points, to close at 1,996.21 and Sydney was flat, edging up 2.8 points to 4,387.
In other markets:
* Taipei rose 0.41 per cent, or 31.36 points, to 7,715.16.
* Manila closed 0.84 per cent higher, adding 44.61 points to 5,346.10.
* Jakarta was 0.89 per cent, or 37.54 points, up at 4,262.56.
* Bangkok ended 0.99 per cent, or 12.68 points, higher at 1,298.79.
* Mumbai gained 0.99 per cent, or 183.24 points, to 18,762.74. AFP*

Business Times : marketwatch

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