Asian markets mostly gained on Friday. Japan's Nikkei was 0.2 per cent higher on upbeat industrial output data. Hong Kong's Hang Seng Index rose 1.0 per cent, while South Korea's Kospi added 0.5 per cent. China's Shanghai Composite Friday fell 0.3 per cent. Today metal and resource shares in the regional markets may face pressure after the massive earthquake that hit Chile.
Nippon Oil Corporation
Asian markets ended higher Tuesday. Trading remained thin while markets including China, Hong Kong, Taiwan and Singapore were closed. Japan's Nikkei advanced 0.2 per cent and South Korea's Kospi rose 0.5 per cent, driven by good leads in financial and resources sector. Commodities prices were higher as risk appetite returned. Hong Kong and Singapore bourses resume trading on Wednesday.
US stocks overnight rose overnight as investors were looking for positive corporate results to fuel the rally after a disappointing start of the earnings season. A brokerage upgrade of drugmaker Merck & Co and an upbeat outlook from Kraft Foods Inc has helped to lift the healthcare and consumer sectors. Financial shares also climbed during a hearing over the financial crisis on Capitol Hill.
Overnight US shares ended with modest gains helped by better-than-expected retail sales data and upbeat broker comments. But investors were still cautious ahead of the release of the non-farm payrolls data. Most Asian stocks declined Thursday. China's Shanghai Composite lost 1.9 per cent over fears of possible rates rise while Chinese central bank is tightening liquidity in the interbank money markets.
US stocks closed mixed overnight as the market wobbled after the US Federal Reserve decided to maintain its interest rates at record low to support the subdued recovery. The central bank's upbeat outlook of the economy has led to speculation about a faster interest rate rise.
US shares fell on Thursday as the services sector index declined unexpectedly in November. The contraction also hurt sentiment ahead of the release of unemployment figure.
Last Friday, the Australian shares ended higher for the first time in a week. The benchmark S&P/ASX200 index gained 7.5 points, or 0.19 per cent, to 3,899.6 points, and the broader All Ordinaries index advanced 7 points, or 0.18 per cent, at 3894.4 points.