Asian shares push higher on investor optimism

Published: October 20, 2017 11:33:09 | Updated: October 25, 2017 04:39:53


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Asian shares pushed higher on investor optimism over the global outlook despite uncertainties over the outcome of political events in China and Japan.

Japan’s benchmark Nikkei 225 crept less than 0.1 per cent higher to 21,451.78 and South Korea’s Kospi added 0.4 per cent to 2,483.08.

Hong Kong’s Hang Seng index rebounded 0.8 per cent to 28,389.65 after a big selloff the day before while the Shanghai Composite in mainland China edged 0.1 per cent higher to 3,371.87. Australia’s S&P/ASX 200 was up 0.3 per cent to 5,915.10, according to AP.

Major US benchmarks were mostly higher, eking out tiny gains to extend the market’s winning streak.

The S&P 500 index rose less than 1.0 per cent to close at 2,562.10 and the Dow Jones industrial average added less than 1 per cent to 23,163.04.

The Nasdaq composite slid less than 0.3 per cent to 6,605.07.

Oil futures bounced. Benchmark US crude rose 4 cents to $51.55 a barrel in electronic trading on the New York Mercantile Exchange.

The contract lost 75 cents, or 1.4 per cent, to settle at $51.29 per barrel on Thursday.

Brent crude, used to price international oils, added 2 cents to $57.25 per barrel in London.

The dollar strengthened to 113.20 yen from 112.56 yen in late trading Thursday. The euro slipped to $1.1809 from $1.1851.

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