Asian stocks to end week higher after Draghi’s expanded stimulus
January 23, 2015 8:35 am
Asian stocks advanced with the regional benchmark index set to end the week higher following the European Central Bank expanded asset-purchase program.
The MSCI Asia Pacific Index rose by 0.2% to 140.1 in early trade in Tokyo. Japanese stocks advanced with the benchmark index posting its first weekly gain of the year following the announcement of expanded stimulus by the European Central Bank. Chinese stocks also advanced with its benchmark index set for its longest weekly winning streak since 2006 on manufacturing data that was better than expected. The manufacturing data signified a stabilizing economy for Asia’s giant.
The Topix Index added 1% to 1,403.22 at the end of trade in Tokyo. For the week, the gauge has advanced a total of 2.9% with the daily trend showing three rising shares for every one dropping. Among the gauge’s 33 industry groups, steelmakers, shipping lines, and insurance companies were the best performers. The Nikkei 225 Stock Average rose by 1.1% to 17,511.75 for weekly gain totalling to 3.8%. The Shanghai Composite Index is on a four-day winning streak, rising by 1.8% to 3,404.04. The gauge was able to rebound from all of the week’s loss. Hong Kong’s Hang Seng China Enterprises Index added 1.8%. Meanwhile, the Hang Seng index climbed by 1.3% as the CSI 300 Index increased by 1.5%. Australia’s S&P/ASX 200 and South Korea’s KOSPI Index rallied by 1.51% or 81.88 points to 5,501.82 and 0.79% or 15.27 points to 1,936.09 respectively.
Japan’s Teijin Ltd. surged by 5% while Yaskawa Electric Corp. rose by 5.7%. Yamato Holdings Co., meanwhile, shed 3.4%. Meanwhile, in China China Life Insurance Co. headed the Hong Kong-traded mainland shares by adding 2.7% and reaching its highest level since January 2011. PetroChina Co. rose by 1.6% Citic Securities Co. along with Haitong Securities Co. jumped by at least 3% each. Industrial & Commercial Bank of China Ltd. reached its highest for the week.
China’s preliminary Purchasing Manager’s Index was at 49.8 for the month of January from HSBC Holdings Plc and Markit Economics.
After benchmark rates were maintained at record lows by the ECB, an expanded stimulus package was announced. In the meeting of the European Central Bank, President Mario Draghi confirmed an broadened stimulus asset-purchase program that contained both private and public securities that reached 60 billion euros or $69 billion per month. Draghi says that the buying will extend up to September 2016.
Meanwhile, US stocks recovered the year’s losses to reach a four-day winning streak as the European Central Bank announced a broader stimulus plan. Financial companies along with the transportation sector boost as earnings reported went better than estimations.
The material has been provided by InstaForex Company – www.instaforex.com
Asian stocks advanced with the regional benchmark index set to end the week higher following the European Central Bank expanded asset-purchase program.
The MSCI Asia Pacific Index rose by 0.2% to 140.1 in early trade in Tokyo. Japanese stocks advanced with the benchmark index posting its first weekly gain of the year following the announcement of expanded stimulus by the European Central Bank. Chinese stocks also advanced with its benchmark index set for its longest weekly winning streak since 2006 on manufacturing data that was better than expected. The manufacturing data signified a stabilizing economy for Asia’s giant.
The Topix Index added 1% to 1,403.22 at the end of trade in Tokyo. For the week, the gauge has advanced a total of 2.9% with the daily trend showing three rising shares for every one dropping. Among the gauge’s 33 industry groups, steelmakers, shipping lines, and insurance companies were the best performers. The Nikkei 225 Stock Average rose by 1.1% to 17,511.75 for weekly gain totalling to 3.8%. The Shanghai Composite Index is on a four-day winning streak, rising by 1.8% to 3,404.04. The gauge was able to rebound from all of the week’s loss. Hong Kong’s Hang Seng China Enterprises Index added 1.8%. Meanwhile, the Hang Seng index climbed by 1.3% as the CSI 300 Index increased by 1.5%. Australia’s S&P/ASX 200 and South Korea’s KOSPI Index rallied by 1.51% or 81.88 points to 5,501.82 and 0.79% or 15.27 points to 1,936.09 respectively.
Japan’s Teijin Ltd. surged by 5% while Yaskawa Electric Corp. rose by 5.7%. Yamato Holdings Co., meanwhile, shed 3.4%. Meanwhile, in China China Life Insurance Co. headed the Hong Kong-traded mainland shares by adding 2.7% and reaching its highest level since January 2011. PetroChina Co. rose by 1.6% Citic Securities Co. along with Haitong Securities Co. jumped by at least 3% each. Industrial & Commercial Bank of China Ltd. reached its highest for the week.
China’s preliminary Purchasing Manager’s Index was at 49.8 for the month of January from HSBC Holdings Plc and Markit Economics.
After benchmark rates were maintained at record lows by the ECB, an expanded stimulus package was announced. In the meeting of the European Central Bank, President Mario Draghi confirmed an broadened stimulus asset-purchase program that contained both private and public securities that reached 60 billion euros or $69 billion per month. Draghi says that the buying will extend up to September 2016.
Meanwhile, US stocks recovered the year’s losses to reach a four-day winning streak as the European Central Bank announced a broader stimulus plan. Financial companies along with the transportation sector boost as earnings reported went better than estimations.
The material has been provided by InstaForex Company – www.instaforex.com
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