• Asian Stocks close: most stocks closed higher and extended gains for second day

Market news

12 August 2014

Asian Stocks close: most stocks closed higher and extended gains for second day

Most Asian stock closed higher and extend gains for second day as tensions over Ukraine and Iraq eased.

Japanese stocks were supported by the weaker yen.

Japan's industrial production decreased 3.4% in June, missing expectations for a 0.5% rise, after a 3.3% decline in May.

On a yearly basis, industrial production in Japan rose 3.1% in June, after a 3.2% increase in May.

Japan's corporate goods price index (CGPI) increased 4.3% in July from a year earlier. That was the 16th straight gain but the pace of rise slowed.

Chinese stocks traded mixed. Investors are awaiting the release of industrial production, retail sales and fixed asset investment in China on Wednesday.

Indexes on the close:

Nikkei 225 15,161.31 +30.79 +0.20%

Hang Seng 24,689.41 +43.39 +0.18%

Shanghai Composite 2,221.59 -3.06 -0.14%

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