Arab Today, arab today asian stocks advance as financials gain on china
Last Updated : GMT 13:33:47
Arab Today, arab today
Arab Today, arab today

Asian stocks advance as financials gain on China

Arab Today, arab today

Arab Today, arab today Asian stocks advance as financials gain on China

Singapore - Arabstoday

Most Asian stocks rose, with the benchmark index trading near a two-month high, as Chinese financial shares rose after the country raised interest rates, boosting their profit outlook and countering losses by Japanese nuclear-power generators. Ping An Insurance (Group) Co, the nation\'s No 2 insurer by market value, increased 0.9 per cent in Hong Kong. Bank of Communications Co rose 1.2 per cent in Hong Kong, leading banks higher. Kansai Electric Power Co led a drop by Japanese electricity providers on concern the restart of idled reactors will be delayed by a government order for stress tests on all plants in Japan. The MSCI Asia Pacific Index slid 0.04 point, or less than 0.1 per cent, to 137.39, reversing a gain of as much as 0.2 per cent and earlier declines of 0.4 per cent. About seven stocks gained for every six that fell on the 1,018-member gauge. China raised benchmark interest rates for a third time this year, adding to efforts to slow inflation. \"We\'ve seen a marked cooling in China\'s growth recently and the next reading on inflation should mark a peak,\" said Nader Naeimi, a strategist for AMP Capital Investors Ltd., which has almost $100 billion (Dh367 billion) under management globally. \"That suggests that we\'re coming close to the end of China\'s tightening cycle, and this should be positive for global growth, earnings and investor sentiment.\" Through Wednesday, the Asia-Pacific index lost 2.4 per cent from this year\'s high on May 2 amid concern a slowing US economy, Europe\'s sovereign-debt crisis and China\'s steps to curb inflation will crimp earnings. \"China\'s interest-rate increase had already been factored into the market, but there is concern the country may keep raising rates,\" said Mitsushige Akino, who oversees about $600 million in Tokyo at Ichiyoshi Investment Management Co in Tokyo. \"We need to keep an eye on the movements in Chinese shares.\" Ping An advanced 0.9 per cent to HK$81.95 (Dh38.67). Rival AIA Group Ltd rose 1.7 per cent to HK$27.75, the biggest boost to Hong Kong\'s Hang Seng index. Industrial & Commercial Bank of China Ltd increased 0.2 per cent to HK$5.79. Bank of Communications Co. rose 1.2 per cent to HK$7.46. Financial shares posted the biggest gains on the Hang Seng Index yesterday after Barclays Plc and Citigroup said China\'s rate increase would be positive for banks\' net-interest margins. \"The insurers remain well positioned to benefit when rates rise,\" analysts led by Mark Kellock wrote in a report today. \"China\'s life insurers have reduced their exposure to longer- duration bonds in favour of shorter-dated deposits and cash with the expectation that interest rates would again rise in 2011, at which point they would be able to switch into longer-duration assets at higher rates.\" Japan\'s Nikkei 225 Stock Average declined 0.1 per cent as manufacturers fell amid uncertainty about the extent to which production will be curbed by power shortages from halted nuclear generators. The MSCI Asia Pacific excluding Japan Index, which tracks shares outside of Japan, advanced 0.3 per cent. Hong Kong\'s Hang Seng index climbed 0.1 per cent. South Korea\'s Kospi index rose 0.4 per cent in Seoul while Australia\'s S&P/ASX 200 Index added 0.5 point, or less than 0.1 per cent in Sydney. From / Gulf News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian stocks advance as financials gain on china Arab Today, arab today asian stocks advance as financials gain on china

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday