Asian stocks rose, with the regional benchmark index headed for its biggest gain in nine months, amid signs the Japanese and U.S. economies are improving and assurances on stimulus efforts by the Federal Reserve.
Japan’s Topix index rose 3.2% and the benchmark Nikkei 225
Stock Average jumped 3.5%, extending gains for a second week. Reports
Friday showed the economy strengthened in May as industrial production
rose the most since 2011, retail sales climbed and consumer prices
halted a six-month slide, bolstering Prime Minister Shinzo Abe’s push to
end a deflationary malaise.
China’s Shanghai Composite Index fell 4.48% for the week,
despite 1.5% Friday’s rise. Fitch Ratings on Thursday cut its 2013
growth forecast for the world’s second-largest economy on concern a
surge in money market rates will curb demand.
Hong Kong’s Hang Seng Index advanced 2.7%, while the Hang
Seng China Enterprises Index of mainland companies gained 1.7%. South
Korea’s Kospi index gained 1.6%. Singapore’s Straits Times Index
increased 1.2%. New Zealand’s NZX 50 Index rose 0.5%, while Australia’s
S&P/ASX 200 Index lost 0.2%.
Japanese exporters gained as the yen fell against the
dollar for a second day. A weaker yen boosts the value of overseas
income at carmakers and electronics manufacturers when repatriated.
Toyota gained 1.5%, Honda Motor Co. rose 2.2% and Panasonic Corp. jumped
6.7%.
Japanese lenders advanced. Mitsubishi UFJ climbed 4.1%.
Sumitomo Mitsui Financial Group Inc. rose 2.9% and Mizuho Financial
Group Inc. gained 4.6%.
Chinese developers rallied after 21st Century Business
Herald reported companies may be allowed to sell new shares and bonds to
ease the cash crunch in the world’s second-largest economy.
China Overseas Land rose 4.6% and Guangzhou R&F Properties Co. gained 3.9% and China Resources Land Ltd. gained 4.2%.
Sands China Ltd., a Macau casino operator controlled by billionaire Sheldon Adelson, added 1.1%.
Комментариев нет:
Отправить комментарий