Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Shares mostly higher in Asia following Standard & Poor's 500 index close above 2,000 points

FILE - In this Tuesday, Aug. 19, 2014, file photo, trader Leon Montana works on the floor of the New York Stock Exchange. U.S. stocks opened slightly higher on Tuesday, Aug. 26, 2014, as investors weighed the latest batch of corporate deal news and mixed economic reports on home prices and demand for big-ticket items. The Standard & Poor's 500 index held at 2,000, extending the prior day's gains. (AP Photo/Richard Drew, File)

Enlarge Image

FILE - In this Tuesday, Aug. 19, 2014, file photo, trader Leon Montana works on the floor of the New York Stock Exchange. U.S. stocks opened slightly higher on Tuesday, Aug. 26, 2014, as investors weighed the latest batch of corporate deal news and mixed economic reports on home prices and demand for big-ticket items. The Standard & Poor's 500 index held at 2,000, extending the prior day's gains. (AP Photo/Richard Drew, File)

TOKYO - Asian stock markets were mostly higher Wednesday after the latest record close for the Standard & Poor's 500, though gains were modest and Japan and Hong Kong lost ground after early advances.

KEEPING SCORE: Japan's Nikkei 225 fell 0.3 per cent to 15,480.72 by early afternoon and Hong Kong's Hang Seng lost a smidgen to 25,067.18. South Korea's Kospi added 0.2 per cent to 2,071.53 while Australia's S&P/ASX 200 was steady at 5,638.10. Benchmarks in mainland China, India, Taiwan and Southeast Asia were higher.

SPILLOVER: The S&P 500's 0.1 per cent gain to a record close of 2,000.02, supported by strong U.S. consumer confidence data, provided upward momentum ahead of the release of key economic data in Japan later this week. The Dow Jones industrial average also closed higher Tuesday, gaining 0.2 per cent to 17,106.70.

ANALYST TAKE: Investors remain cautious over the outlook for China and Japan, the world's second and third-largest economies. "There is more noise about weak lending in August, which would mean the second straight month of poor credit expansion" in China, Dariusz Kowalczyk of Credit Agricole said in a research note. "This bodes ill for third-quarter growth, given that government stimulus is directed mainly through infrastructure spending, which is funded by lending."

EUROPE: Investors took heart from the U.S. gains, moderating geopolitical tensions and dovish comments by the European central bank governor, Mario Draghi, indicating more stimulus is in the pipeline. Germany's DAX rose 0.8 per cent Tuesday and France's CAC-40 added 1.2 per cent. Britain's FTSE 100 gained 0.7 per cent after being closed Monday for a holiday.

CURRENCIES: The dollar dropped to 104.01 yen from 104.10 yen late Tuesday. The euro slipped to $1.3160 from $1.3169.

ENERGY: Benchmark U.S. crude for October delivery was up 3 cents at $93.89 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 51 cents to close at $93.86 on Tuesday.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Election 2014
Brandon Sun Business Directory
The First World War at 100
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates