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6 years ago

Asian shares rise after Wall Street gains

File Photo (Collected)
File Photo (Collected)

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Asian stock markets followed Wall Street higher Wednesday ahead of a meeting of major industrialised economies overshadowed by tension over US steel tariffs.

Tokyo's Nikkei 225 rose 0.1 per cent to 22,572.46 and Hong Kong's Hang Seng gained 0.4 per cent to 31,221.59. Sydney's S&P-ASX 200 added 0.4 per cent to 6,019.80, reports AP.

The Shanghai Composite Index was unchanged at 3,114.35. South Korean markets were closed for a holiday. Benchmarks in Taiwan and New Zealand rose while Southeast Asian markets declined.

US stocks mostly rose, helped by gains for technology companies and retailers as up-and-down trading related to trade tensions gave way to smaller moves.

The S&P 500 index added 0.2 per cent to 2,748.80 while the Dow Jones industrial average slipped 0.1 per cent to 24,799.98. The Nasdaq composite rose 0.4 per cent.

Mexico announced duties of 15 to 25 per cent on imports from the United States including pork, steel tubes and bourbon in response to Trump's tariff hike.

The government said it would waive tariffs on pork from other countries to ensure adequate supplies.

Benchmark US crude rose 20 cents to $65.72 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 77 cents on Tuesday to close at $65.52.

Brent crude, used to price international oils, added 6 cents to $75.44 per barrel in London. The contract was 6 cents higher the previous session to close at $75.38.

The dollar gained to 109.86 yen from Tuesday's 109.79 yen. The euro advanced to $1.1722 from $1.1715.

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