asia rally ticks along as tokyo extends surge to 12th day
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Asia rally ticks along as Tokyo extends surge to 12th day

Arab Today, arab today

Arab Today, arab today Asia rally ticks along as Tokyo extends surge to 12th day

Wall Street has a good thing going.
London - Arab Today

European stock markets advanced solidly Wednesday as Wall Street set new all-time highs, with even Madrid shrugging off its worries after Spain's threat to suspend Catalonia's autonomy.

Analysts cited strong IBM results as the main driving factor for the Dow, which established itself comfortably above the 23,000 level a day after breaching it for the first time.

"In what is becoming an almost daily occurrence US markets have once again opened at record highs, with the Dow above 23,000 and the S&P 500 getting ever closer to the 2,600 level," said Michael Hewson, chief market analyst at CMC Markets UK.

In Europe, Frankfurt added 0.4 percent to set a new closing record of 13,043.03 points, having risen to nearly 13,100 points during the session.

London and Paris also gained 0.4 percent for the day.

Madrid rose 0.6 percent despite political trouble around Catalonia.

Spain said Wednesday it would take the unprecedented step of seeking to suspend Catalonia's autonomy if the region's leader does not abandon his independence bid, on the eve of his deadline to give a final answer.

- UK's rate guessing game -

Analysts said investors were also focused on London which was digesting data showing British unemployment sticking to a 42-year low point.

Sterling fell with markets not certain whether the Bank of England will raise interest rates next month amid rising British inflation, as data has shown wages are not keeping up with price rises despite the tight jobs market.

"The UK is a key focus for markets this week as traders try to determine whether or not the Bank of England will follow through on warnings that interest rates could rise at an upcoming meeting," said Craig Erlam, senior market analyst at Oanda trading group.

In Asia, Tokyo's main stocks index ended up 0.1 percent at another 21-year high -- but Seoul dropped 0.1 percent, and Taipei, Manila and Jakarta also turned negative.

Hong Kong edged 0.1-percent higher to rack up a fifth successive day of gains that have left it at a 10-year high, while Sydney and Wellington were both marginally higher.

Shanghai was up 0.3 percent. Chinese dealers are watching Beijing, where the Communist Party on Wednesday kicked off its congress to hand Xi Jinping a second five-year term, consolidating his already immense power at the helm of the world's number-two economy.

Markets are hoping the leadership provides some idea about future policy, particularly in tackling the country's titanic debt mountain and possible further liberalisation.

 - Key figures around 1530 GMT -

London - FTSE 100: UP 0.4 percent at 7,542.87 points (close)

Frankfurt - DAX 30: UP 0.4 percent at 13,043.03 (close)

Paris - CAC 40: UP 0.4 percent at 5,383.81 (close)

Madrid - IBEX 35: UP 0.6 percent at 10,273.4

EURO STOXX 50: UP 0.3 percent at 3,617.47

New York - DOW: UP 0.6 percent at 23,133.14

Tokyo - Nikkei 225: UP 0.1 percent at 21,636.05 (close)

Hong Kong - Hang Seng: UP 0.1 percent at 28,711.76 (close)

Shanghai - Composite: UP 0.3 percent at 3,381.79 (close)

Euro/dollar: UP at $1.1769 from $1.1766 at 2100 GMT

Pound/dollar: DOWN at $1.3179 from $1.3194

Dollar/yen: UP at 113.00 yen from 112.20 yen

Oil - Brent North Sea: DOWN 11 cents at $57.77 per barrel

Oil - West Texas Intermediate: DOWN five cents at $52.06

Source: AFP

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asia rally ticks along as tokyo extends surge to 12th day asia rally ticks along as tokyo extends surge to 12th day

 



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asia rally ticks along as tokyo extends surge to 12th day asia rally ticks along as tokyo extends surge to 12th day

 



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