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The Financial Express

Asian stocks rise as tech shares make recovery

| Updated: December 05, 2017 12:51:19


Evaly and Fianancial Express Evaly and Fianancial Express
Asian shares rise marginally

Asian share markets were marginally higher Friday, after an overnight recovery of technology stocks on Wall Street.

Japan's Nikkei 225 was flat at 22,724.11 while South Korea's Kospi rose 0.2 per cent to 2,480.42. Hong Kong's Hang Seng index slipped 0.1 per cent to 29,158.26.

China's Shanghai Composite Index lost less than 0.1 per cent to 3,316.50. Australia's S&P/ASX 200 gained 0.2 per cent to 5,981.20. Stocks in Southeast Asia were mostly higher, reports AP.

The Dow Jones industrial average finished with its biggest gain since March On Thursday and pushed it past the 24,000 mark for the first time.

The Dow jumped 1.4 per cent to 24,272.35. The Standard & Poor's 500 index climbed 0.8 per cent to 2,647.58 and the tech-heavy Nasdaq gained 0.7 per cent to 6,873.97.

Crude oil prices gained after OPEC and a group of allied oil-producing nations agreed to extend crude output cuts until the end of next year.

Benchmark US crude added 20 cents to $57.60 per barrel on the New York Mercantile Exchange. The contract finished at $57.40 per barrel on Thursday, up 10 cents.

Brent crude, used to price international oils, gained 34 cents to $62.97 per barrel in London. It finished at $62.63 a barrel, up 10 cents in the previous day.

The dollar edged higher to 112.57 yen from 112.54 yen while the euro rose slightly to $1.1907 from $1.1904.

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