Asian shares bounce from largest plunge in 7 months
March 21, 2014 8:11 am
The Asian stocks soared, with a regional index of shares outside Japan bounced back from the largest loss yesterday since August.
Li & Fung Ltd. surged 17% in Hong Kong following the world’s biggest supplier of clothes and toys to retailers listed profit that outmatched analysts’ estimates and suggested to kick off its branding and licensing business. GOME Electrical Appliances Holding Ltd. profited 7.5% in the city as earnings surpassed forecasts. Metcash Ltd. slid 9.8% in Sydney following the consumer goods marketing firm lost profit postulations.
The MSCI Asia Pacific, except Japan Index, ascended 0.3% to 450.45 as of 9:52 a.m. in Hong Kong, paring this week’s glide to 0.8%. The measure dropped 1.7% yesterday, taking its loss this year to 4.1% as figures from exports to industrial output displayed hints of a slowdown in China and Federal Reserve Chair Janet Yellen implied US interest rates might increase in six months following the end of the central bank’s bond-buying program. HSBC Holdings Plc and Markit Economics’ benchmark of Chinese manufacturing will be released on March 24.
Hong Kong’s Hang Seng Index accrued 0.3%. South Korea’s Kospi index advanced 0.6%. Australia’s S&P/ASX 200 Index climbed 0.5 percent. Singapore’s Straits Times Index rose 0.4%. Taiwan’s Taiex index rose 0.2%. Japanese markets are closed today for a holiday. China’s Shanghai Composite Index and New Zealand’s NZX 50 Index both slipped 0.1%.
Meanwhile, Hong Kong’s Hang Seng China Enterprises Index of mainland stocks traded in the city increased 0.3%, after yesterday’s 1.7 percent fall that carried losses from its December 2 high past the 20% threshold that some investors viewed a bear market. Decreased appeared as the yuan dived to a one-year low despite deepening concern on the world’s second biggest economy is decelerating. The CSI 300 Index of China’s 300 biggest companies dropped to a five-year low yesterday as Goldman Sachs Group Inc. trimmed its growth outlook for China.
Yellen this week said the quantitative-easing program used to influence the US economy would end this fall if the central bank kept on tapering it in measured steps. She added there would be a considerable time between the end of the stimulus and the first rate hike in six months.
The material has been provided by InstaForex Company – www.instaforex.com
The Asian stocks soared, with a regional index of shares outside Japan bounced back from the largest loss yesterday since August.
Li & Fung Ltd. surged 17% in Hong Kong following the world’s biggest supplier of clothes and toys to retailers listed profit that outmatched analysts’ estimates and suggested to kick off its branding and licensing business. GOME Electrical Appliances Holding Ltd. profited 7.5% in the city as earnings surpassed forecasts. Metcash Ltd. slid 9.8% in Sydney following the consumer goods marketing firm lost profit postulations.
The MSCI Asia Pacific, except Japan Index, ascended 0.3% to 450.45 as of 9:52 a.m. in Hong Kong, paring this week’s glide to 0.8%. The measure dropped 1.7% yesterday, taking its loss this year to 4.1% as figures from exports to industrial output displayed hints of a slowdown in China and Federal Reserve Chair Janet Yellen implied US interest rates might increase in six months following the end of the central bank’s bond-buying program. HSBC Holdings Plc and Markit Economics’ benchmark of Chinese manufacturing will be released on March 24.
Hong Kong’s Hang Seng Index accrued 0.3%. South Korea’s Kospi index advanced 0.6%. Australia’s S&P/ASX 200 Index climbed 0.5 percent. Singapore’s Straits Times Index rose 0.4%. Taiwan’s Taiex index rose 0.2%. Japanese markets are closed today for a holiday. China’s Shanghai Composite Index and New Zealand’s NZX 50 Index both slipped 0.1%.
Meanwhile, Hong Kong’s Hang Seng China Enterprises Index of mainland stocks traded in the city increased 0.3%, after yesterday’s 1.7 percent fall that carried losses from its December 2 high past the 20% threshold that some investors viewed a bear market. Decreased appeared as the yuan dived to a one-year low despite deepening concern on the world’s second biggest economy is decelerating. The CSI 300 Index of China’s 300 biggest companies dropped to a five-year low yesterday as Goldman Sachs Group Inc. trimmed its growth outlook for China.
Yellen this week said the quantitative-easing program used to influence the US economy would end this fall if the central bank kept on tapering it in measured steps. She added there would be a considerable time between the end of the stimulus and the first rate hike in six months.
The material has been provided by InstaForex Company – www.instaforex.com
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