Image by Werner Kunz (werkunz1) via FlickrJapan's Nikkei Stock Average gained 0.9% to 10125.99, its highest close since June 21. Hong Kong's Hang Seng Index gained 1.3% to 23166.22.
Elsewhere, markets were mixed. South Korea's Kospi declined 0.3% to 1895.54 amid continuing tensions with North Korea. Australia's S&P/ASX 200 gained 0.4% to 4618.51, the Shanghai Composite Index slipped 0.2% to 2866.36, and India's Sensex gained 1.4% to 19405.10.
In Tokyo, investors were heartened by data pointing to upbeat U.S. retail sales over the weekend, which marks the unofficial start to the Christmas shopping season. Roughly 212 million shoppers visited a store or a website over the "Black Friday" weekend, 8.7% more than last year, according to the Washington-based National Retail Federation.
Further gains in the U.S. dollar versus the yen are likely, analysts said, against the backdrop of stronger retail sales, tensions on the Korean peninsula and questions over financial stability in the euro zone after European leaders approved a $113 billion rescue package for Ireland.
Andreas Schuster, head of Japan research at CLSA in Tokyo, said the unfolding dynamic means "the yen is unlikely to strengthen further and indeed might give up some more of its gains; this helps Japanese exporters and lifts the market."
To read full article from source click here
No comments:
Post a Comment