Asian shares rally after Wall Street gains

Published: July 20, 2017 10:40:52 | Updated: October 20, 2017 18:47:06


Asian share were mostly higher on Thursday after an overnight advance on Wall Street fuelled by strong corporate earnings.

 

Strong trade data and expectations for continued lavish monetary stimulus from Japan's central bank pushed Tokyo's Nikkei 225 index up 0.6 per cent. Nikkei 225 advanced 0.6 per cent to 20,148.72.

 

South Korea's Kospi added 0.1 per cent to 2,432.73. Hong Kong's Hang Seng index rose 0.3 per cent to 26,749.10 and the Shanghai Composite Index added 0.2 per cent to 3,236.58.

 

Australia's S&P/ASX 200 gained 0.5 per cent to 5,762.80. Stocks in Southeast Asia were mixed.

 

US stocks advanced to fresh record highs on Wednesday, led by technology, health care and energy companies. The S&P 500 index rose 0.5 per cent to 2,473.83.

 

The Dow Jones industrial average added 0.3 per cent to 21,640.75. The Nasdaq composite gained 0.6 per cent to 6,385.04. The Russell 2000 index of smaller-company stocks jumped 1.0 per cent to 1,441.77.

 

Benchmark US crude lost 6 cents to $47.26 per barrel in electronic trading on New York Mercantile Exchange. The contract finished at $47.12 a barrel on Wednesday, up 72 cents, or 1.6 per cent.

 

Brent crude, the standard for international oil prices, dipped 5 cents to $49.65 per barrel in London. It gained 86 cents, or 1.7 per cent, to close at $49.70 per barrel in the previous session.

 

The dollar strengthened to 112.12 yen from 111.89 yen. The euro slipped to $1.1507 from $1.1515, according to AP.

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