Asian shares rise as solid US performance lifts spirits

Published: July 18, 2018 11:21:07 | Updated: July 20, 2018 14:42:13

File Photo (Collected)

Asian share markets climbed higher on Wednesday as a sweep of positive news from Wall Street and beyond boosted confidence in the US economy.

Japan's benchmark Nikkei 225 gained 1.0 per cent to 22,921.20 and South Korea's Kospi added 0.3 per cent to 2,304.64. Hong Kong's Hang Seng gained 0.6 per cent to 28,351.53.

The Shanghai Composite index added 0.4 per cent to 2,808.24. Australia's S&P/ASX 200 climbed 0.8 per cent to 6,254.20. Shares rose in Taiwan and Southeast Asia.

US indexes rebounded after a weak start on solid gains for retailers, technology and household goods companies. The S&P 500 index rose 0.4 per cent to 2,809.55.

The Dow Jones Industrial Average gained 0.2 per cent to 25,119.89. The Nasdaq composite jumped 0.6 per cent to 7,855.12, reports AP.

Benchmark US crude dropped 34 cents to $67.74 per barrel in electronic trading on the New York Mercantile Exchange. The contract was relatively unchanged at $68.08 in New York on Tuesday.

Brent crude, used to price international oils, shed 30 cents to $71.86 per barrel.

The dollar rose to 112.95 yen from 112.83 yen late Tuesday. The euro eased to $1.1654 from $1.1664.

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