• Asian Stocks close: most stocks rose, following U.S. equity indexes

Market news

13 May 2014

Asian Stocks close: most stocks rose, following U.S. equity indexes

The most Asian stock indices increased, following U.S. equity indexes. The Dow Jones and S&P 500 closed at all-time highs, supported by expectation that U.S. economy is improving.

The weaker-than-expected economic data in China had a negative impact on stock markets. Retail sales in China increased 11.9% in April, from a 12.2% rise in March. Analysts had expected an increase of 12.2%. China’s industrial production rose 8.7% in April, from an 8.8% rise in March. Analysts had forecasted an increase of 8.9%. Fixed asset investment in China climbed 17.3% in April, from a 17.6% gain in March. Analysts had expected a 17.8% rise.

The Japanese index Nikkei 225 profited from the weak yen due to decreasing demand for the safe-haven currency.

Indexes on the close:

Nikkei 225                     14,425.44           +275.92        +1.95%

Hang Seng                     22,352.38             +90.77       +0.41%

Shanghai Composite      2,050.73                -2.14       -0.10%

Nissan Motor Co. shares climbed 5.1%, beating estimates of its full-year profit.

Sharp increased 5.0% after the company forecast that the profit would nearly triple in the current fiscal year.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.