Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

ASIA MARKETS: Asian Markets Push Higher, Driven By Tech And Consumer Stocks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/03/2018 | 04:55am CET

By Kenan Machado

Hong Kong hits new 10-year high; Samsung boosts Kospi

Asia-Pacific stocks gained early Wednesday, building on a rally for tech and consumer stocks in the U.S.'s first trading day of 2018.

In China, the CSI 300 -- made up of the biggest companies on both the Shanghai and Shenzhen indexes -- climbed 1.2%.

Overnight, the Nasdaq Composite jumped 1.5%, with Apple (>> Apple) climbing 1.8%. On Wednesday morning, Samsung Electronics (>> Samsung Electronics Co Ltd) rose 3% shortly after opening, though it was recently 1.2% higher. The Kospi index gained 0.3%.

The Taiex in Taiwan, where many Apple suppliers are based, climbed 0.7% to hit a fresh five-week high; index heavyweight Taiwan Semiconductor Manufacturing (>> Taiwan Semiconductor Mfg. Co. Ltd.) climbed 2.2%.

Tech stocks also helped push Hong Kong's Hang Seng Index to another 10-year high; it rose 0.4%. Tencent Holdings (>> Tencent Holdings Ltd) , Sunny Optical Technology (>> Sunny Optical Technology (Group) Co. Ltd) and AAC Technologies Holdings (>> Aac Technologies Holdings Inc) all rose about 2% Wednesday morning.

"There is a lot of anticipation that earnings will increase" for the sector, said Shane Chanel, an equities adviser at ASR Wealth Advisers. But he cautioned that any misstep could burst the market's bubble.

Indexes in New Zealand and the Philippines set all-time records on Wednesday. Japan's Nikkei was an outlier, down slightly in morning trading.

Despite strength for large mining companies BHP Billiton (>> BHP Billiton Limited) and Rio Tinto (>> Rio Tinto plc) , the S&P/ASX 200 was just 0.1% higher, due to declines in consumer and health-care stocks.

The U.S. dollar, which on Tuesday logged its largest drop in four years, as the WSJ Dollar Index fell for a seventh-straight session. It was recently up 0.1%.

   And bitcoin   has managed to stay above $15,000, according to price data from CoinDesk. 
 

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
11:50a EUROPE MARKETS : European Stocks Follow Wall Street Into The Red, As Burberry Falls Short
11:50a EUROPE MARKETS : European Stocks Follow Wall Street Into The Red, As Burberry Falls Short
11:08a Global stocks pull back from record highs, set for second day of losses in new year
11:03a Stocks pull back from record highs, set for second day of losses in new year
11:03a Stocks pull back from record highs, set for second day of losses in new year
10:45a European shares dip as UK trading updates disappoint
10:31a FTSE edges down, Interserve in post-Carillion scare
10:23a LONDON MARKETS : FTSE 100 Falls For Third Straight Day As Burberry, Pearson Drop Sharply
05:06a ASIA MARKETS : Asian Markets Mostly Slide Lower Following U.S. Selloff
04:03a ASIA MARKETS : Asian Markets Slide Lower Following Late U.S. Selloff
Latest news "Markets"
Advertisement