The Canadian Press - ONLINE EDITION

Asian stock markets mostly higher, spurred by expectations of faster US growth

  • Print

Asian stock markets mostly rose Wednesday, spurred by expectations of faster U.S. economic growth.

A decline in the U.S. trade deficit for November, which was partly due to increased domestic oil production, has raised expectations that fourth quarter economic growth will be higher than 3 per cent.

"The markets are rising today because of better economic figures in the US," said Francis Lun, economist at GE Oriental Financial Group in Hong Kong.

Japan's Nikkei 225 rose 1.3 per cent to 16,017.81 and Hong Kong's Hang Seng climbed 0.8 per cent at 22,888.73. Benchmarks in India, Southeast Asia and Taiwan also rose.

China's Shanghai Composite trimmed early gains and was 0.4 per cent down at 2,039.27 by midday. Australia's S&P/ASX 200 shed 0.1 per cent to 5.312.40.

On Wall Street, stocks rallied Tuesday, ending a slump that had ushered in the New Year. The Standard and Poor's 500 climbed the most in three weeks, led by gains for health care stocks.

The S&P 500 rose 11.11 points, or 0.6 per cent, to 1,837.88. The Dow Jones industrial average climbed 105.84 points, or 0.6 per cent, to 16,530.94. The Nasdaq composite gained 39.50 points, or 1 per cent, to 4,153.18.

Investors were also encouraged by the easy passage in a Senate vote late Monday of Janet Yellen's nomination to take the helm at the Federal Reserve. The vote puts an economist in the post who has backed the Fed's recent efforts to stimulate the economy with low interest rates and huge bond purchases.

Investors will get more insight into the Fed's thinking when minutes from the last Federal Open Market Committee meeting are released Wednesday. The Fed announced after that meeting it would begin winding down is $85 billion of monthly bond purchases. That stimulus was a major support for last year's rally in stocks.

Benchmark crude for February delivery was up 22 cents at $93.89 on the New York Mercantile Exchange. The contract rose 24 cents to $93.67 a barrel on Tuesday.

In currencies, the euro rose to $1.3622 from $1.3615 late Tuesday in New York. The dollar rose to 104.91 yen from 104.69 yen.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Spring fashion trends

View more like this

Photo Store Gallery

  • A gosling stares near water at Omands Creek Park-See Bryksa 30 day goose challenge- Day 25– June 21, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A Great Horned Owl that was caught up in some soccer nets in Shamrock Park in Southdale on November 16th was rehabilitated and returned to the the city park behind Shamrock School and released this afternoon. Sequence of the release. December 4, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS

View More Gallery Photos

Poll

What are you most looking forward to this Easter weekend?

View Results

View Related Story

Ads by Google