Asian shares rise; Nikkei jumps after polls

Published: October 23, 2017 11:08:59 | Updated: October 25, 2017 10:17:04


File Photo (Reuters)

Asian shares were mostly higher Monday, with Japan’s benchmark rising on the back of an election victory by the prime minister’s ruling party, which had promised stability and growth.

Japan’s benchmark Nikkei 225 gained 1.0 per cent in morning trading to 21,674.41. Australia’s S&P/ASX 200 inched up 0.1 per cent to 5,913.30. South Korea’s Kospi added nearly 0.1 per cent to 2,490.99.

Hong Kong’s Hang Seng fell 0.6 per cent to 28,316.78, while the Shanghai Composite was little changed but up slightly at 3,380.48, according to AP.

US stocks ended the week with the Standard & Poor’s 500 and Dow Jones indexes reaching their fifth record close in a row. The S&P 500 index rose 13.11 points, or 0.5 per cent, to 2,575.21.

The Dow gained 165.59 points, or 0.7 per cent, to 23,328.63. The Nasdaq composite added 23.99 points, or 0.4 per cent, to 6,629.05.

Benchmark US crude added 22 cents to $52.06 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 16 cents to $57.91 a barrel in London.

The dollar strengthened to 113.85 yen from 113.34 yen late Friday in Asia. The euro fell to $ 1.1767 from $1.1802.

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