The Financial Express

Asian shares rise amid optimism about Hong Kong

| Updated: September 10, 2019 15:19:50

File Photo (Collected) File Photo (Collected)

Asian shares rose on Thursday amid encouraging global developments, including British lawmakers seeking a less chaotic exit from the EU and easing political tensions in Hong Kong.

Japan's benchmark Nikeki 225 rose 2.3 per cent to 21,131.08 in morning trading. Australia's S&P/ASX 200 added 1.0 per cent to 6,618.40, while South Korea's Kospi gained 1.2 per cent to 2,013.04.

Hong Kong's Hang Seng was up nearly 0.4 per cent at 26,620.94, while the Shanghai Composite rose 1.6 per cent to 3,004.54, reports AP.

Shares rallied on Wall Street, reversing Tuesday's losses, when disappointing US manufacturing data and an escalation in the ongoing trade war between the US and China led to a sell-off that ended a three-day winning streak for the market.

The S&P 500 gained 31.51 points, or 1.1 per cent, to 2,937.78. The Dow Jones Industrial Average rose 237.45 points, or 0.9 per cent, to 26,355.47.

The Nasdaq climbed 102.72 points, or 1.3 per cent, to 7,976.88. The Russell 2000 index of smaller company stocks picked up 12.47 points, or 0.8 per cent, to 1,484.76.

Benchmark crude oil edged up 12 cents to $56.38 a barrel. It rose $2.32 to settle at $56.26 a barrel Wednesday. Brent crude oil, the international standard, gained 17 cents to $60.87 a barrel.

The dollar rose to 106.63 Japanese yen from 106.21 yen on Wednesday. The euro strengthened to $1.1032 from $1.1009.

Share if you like