Asian markets higher, lifted by US hopes

Asian markets rose Wednesday on hopes for progress in talks in Washington aimed at avoiding the fiscal cliff, while Chinese shares surged as they bounced back from four-year lows.

Data showing Australian growth remained buoyant provided some support, while the dollar and euro remained on a high against the yen on expectations of new monetary easing by the Bank of Japan.

Tokyo ended 0.39 percent, or 36.38 points, up at 9,468.84, Sydney was 0.37 percent, or 16.8 points, higher at 4,520.4 and Seoul climbed 0.61 percent, or 11.86 points, to 1,947.05.

Hong Kong added 2.16 percent, or 470.94 points, to end at 22,270.91, while Shanghai surged 2.87 percent, or 56.77 points, to 2,031.91 after this week hitting its lowest level since January 2009. Dealers were also lifted by speculation that the Chinese government will soon unveil new plans for the economy.

As Republicans and Democrats trade barbs, talks in Washington remain gridlocked just weeks before the package of huge tax hikes and spending cuts is due to take effect on January 1, which would likely tip the US into recession.

On Tuesday President Barack Obama warned Republicans that there would be no deal without them agreeing to raise taxes on the rich, a stand they have made clear they are loathe to budge from.

But he offered a hint of wiggle room, declining to state that the top income tax rate must go up and permanently remain at the 39.6 percent level seen under the Clinton administration.

"We have the potential of getting a deal done," Obama told Bloomberg TV, adding that Republican proposals to close loopholes and cap deductions would not produce sufficient revenue to make a serious cut in the deficit.

On Wall Street the Dow closed down 0.11 percent, the S&P 500 dipped 0.17 percent and the Nasdaq fell 0.18 percent.

In afternoon forex trade the dollar bought 82.24 yen, compared with 81.88 yen in New York late on Wednesday.

The euro bought $1.3120 and 107.91 yen, compared with $1.3096 and 107.22 yen in New York.

Investors have moved to sell the yen since November when Shinzo Abe, the man expected to become Japan's prime minister after this month's election, said he would push the central bank to carry out more aggressive monetary easing measures.

The single currency was also able to extend its recent gains as the European Union cleared an extra two years for Greece to bring its public deficit within EU limits, which was part of a bailout rearrangement deal agreed last month.

The move came a day after Athens launched a debt buyback bid aimed at slicing 20 billion euros from its debt pile.

Australia said economic growth eased to 0.5 percent in the three months to September and 3.1 percent from a year earlier, hit by a slowdown in China, but in line with forecasts and soothing worries it could be headed for a hard landing.

Treasurer Wayne Swan hailed the "solid" data, saying it was more evidence of "the ongoing resilience of the Australian economy in the face of a difficult and volatile global environment".

In Hong Kong HSBC climbed 1.65 percent and Ping An of China surged 5.29 percent after the British lender said it would sell all its 15.6 percent stake in the insurer to Thailand's Charoen Pokphand Group for $9.4 billion.

Oil prices were higher, with New York's main contract, light sweet crude for delivery in January, gaining 54 cents to $89.04 a barrel and Brent North Sea crude for January also adding 56 cents to $110.40.

Gold was at $1,701.65 at 1105 GMT compared with $1,705.44 late on Tuesday.

In other markets:

-- Singapore's Straits Times Index closed up 0.45 percent, or 13.80 points, at 3,075.92.

Olam International sank 5.31 percent to Sg$1.52 while City Developments added 1.80 percent to Sg$11.87.

-- Taipei rose 0.63 percent, or 48.07 points, to 7,649.05.

Smartphone maker HTC rose 1.62 percent to Tw$283.0 while chip giant TSMC was 0.31 percent higher at Tw$96.9.

-- Manila eased 0.33 percent, or 18.56 points, to 5,687.72.

SM Prime fell 3.6 percent to 16.00 pesos, BDO Unibank added 1.9 percent to 73.40 pesos and Megaworld was up 2.3 percent at 2.68 pesos.

-- Wellington fell 0.21 percent, or 8.45 points, to 4,007.25.

Fletcher Building lost 0.8 percent to NZ$7.85, Fonterra shed 2.2 percent to NZ$6.60 and Chorus rose 0.4 percent to NZ$2.79.

-- Kuala Lumpur shares edged up 6.18 points, or 0.38 percent, to close at 1,613.79.

UEM Land Holdings gained 2.4 percent to 2.13 ringgit, while British American Tobacco rose 1.9 percent to 57.70. Tenaga Nasional lost 0.1 percent to 6.94 ringgit.

-- Jakarta ended up 17.19 points, or 0.4 percent, at 4,286.84.

Paper maker Pabrik Kertas Tjiwi Kimia rose 6.25 percent to 2,125 rupiah, retailer Ramayana Lestari Sentosa climbed 3.85 percent to 1,350 rupiah, while food manufacturer Indofood Sukses Makmur slid 1.67 percent to 5,900 rupiah.

-- Mumbai's Sensex index rose 0.23, or 43.74 points, to 19,391.86 points.

Tata Motors was up 1.33 percent at 274.90 rupees and Infosys was down 1.94 percent at 2,382.30 rupees.

-- Bangkok was closed for a public holiday.


Get stories like this on the Yahoo app and discover more every day.
Download it now.
  • How the Dow Jones industrial average fared on Tuesday Associated Press - 18 minutes ago

    Stocks posted modest gains on Tuesday, bringing indexes nearly back to the record levels they reached last week. Homebuilders rose sharply following a big jump in sales of new homes last month, and Best ... … More »

  • Biden vows 'rock solid' NATO ties as allies slam Trump
    Biden vows 'rock solid' NATO ties as allies slam Trump AFP News - 31 minutes ago

    US Vice President Joe Biden promised unwavering commitment to NATO's collective defence Tuesday as he sought to reassure Baltic allies spooked by a resurgent Russia and White House hopeful Donald Trump. "Let there be no doubt -- America's Article 5 … More »

  • Intuit reports 4Q loss Associated Press - 37 minutes ago

    On a per-share basis, the Mountain View, California-based company said it had a loss of 16 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share. The results exceeded Wall Street ... … More »

  • Wall St. edges higher on tech, housing boost
    Wall St. edges higher on tech, housing boost Reuters - 51 minutes ago

    With the U.S. earnings season winding down, investors are also turning their focus to the likelihood of an interest rate hike in the coming months. Federal Reserve Chair Janet Yellen's speech on Friday at Jackson Hole will be scrutinized for clues … More »

  • Markets Right Now: US stocks notch modest gains Associated Press - 58 minutes ago

    The latest on developments in global financial markets (all times local): 4:00 a.m. Stocks managed modest gains in another quiet day of trading that kept major U.S. indexes slightly below the record levels ... … More »

  • Nimble Storage reports 2Q loss Associated Press - 59 minutes ago

    On a per-share basis, the San Jose, California-based company said it had a loss of 47 cents. Losses, adjusted for stock option expense, came to 19 cents per share. The results exceeded Wall Street expectations. ... … More »

  • Oil prices jump on report Iran could support OPEC limits AFP - 1 hour 4 minutes ago

    Oil prices jumped on Tuesday after a new report that Iran could support an effort by OPEC and Russia to freeze production and firm up prices. The Reuters report, citing unnamed sources, said Tehran is ... … More »

  • Housing sector lifts U.S., European stocks; oil rises
    Housing sector lifts U.S., European stocks; oil rises Reuters - 1 hour 19 minutes ago

    Homebuilders helped lift both U.S. and European stock markets on Tuesday, while oil prices got a boost from Iran's positive signals about an output freeze. On Wall Street, technology companies led the Nasdaq to a record intraday high and robust … More »

  • Gold steady ahead of global central bankers meeting
    Gold steady ahead of global central bankers meeting Reuters - 1 hour 24 minutes ago

    NEW YORK/LONDON (Reuters) - Gold was largely unchanged on Tuesday as markets shifted focus from hawkish comments by a Federal Reserve official over the weekend to a meeting of global central bankers later this week that might provide hints on the … More »

  • Grain lower, livestock lower Associated Press - 1 hour 28 minutes ago

    Grain futures were lower Tuesday on the Chicago Board of Trade. Wheat for Sept. declined 7.50 cents at $4.0775 a bushel; Sept. corn fell 4.75 cents to 3.2850 a bushel; Sept. oats was off .75 cent at $1.7150 ... … More »

  • Dollar slips vs yen on Fed rate hike uncertainty
    Dollar slips vs yen on Fed rate hike uncertainty Reuters - 1 hour 37 minutes ago

    The dollar slid against the yen on Tuesday, as investors shifted their focus away from hawkish remarks on U.S. interest rates by Federal Reserve officials and towards a speech on Friday by Fed Chair Janet Yellen. Yellen will speak at the annual … More »

  • Oil up over 1 percent as Iran signals support for OPEC freeze action
    Oil up over 1 percent as Iran signals support for OPEC freeze action Reuters - 1 hour 45 minutes ago

    Oil prices rose more than 1 percent on Tuesday after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market. It refused to join a previous attempt this year by OPEC plus non-members such … More »

  • BOJ Spurs Bond Volatility on Policy Review Markets Can’t Predict Bloomberg - 2 hours 7 minutes ago

    The only sure thing in the run-up to the BOJ board meeting next month may be wilder market swings. Volatile movements in Japanese government bonds are likely because debt investors aren’t able to price in the outcome of the meeting, according … More »

  • Yuan Funds Abroad See Pickup After Luring $604 Million in 2016 Bloomberg - 2 hours 8 minutes ago

    China Asset Management Co. has seen more inflows into equity funds that invest offshore yuan into mainland equities since Britain’s June 23 vote to leave the European Union. CSOP Asset Management Ltd. had its strongest inflows in 14 months in June … More »

  • Social Security rolls back security measures on website Associated Press - 2 hours 22 minutes ago

    The Social Security Administration has rolled back extra security measures on the agency's website after getting complaints from people who had trouble accessing their accounts. For years, workers and ... … More »

  • AIG in talks to sell Lloyd's insurance business to CPPIB - WSJ
    AIG in talks to sell Lloyd's insurance business to CPPIB - WSJ Reuters - 2 hours 41 minutes ago

    (Reuters) - American International Group Inc (AIG.N) is in early talks to sell Lloyd's of London Ltd's insurance operations to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal ... … More »

  • VW, U.S. states to hold settlement talks over excess emissions
    VW, U.S. states to hold settlement talks over excess emissions Reuters - 3 hours ago

    Maryland, Massachusetts, New York and Pennsylvania sued Volkswagen over excess diesel emissions related to its use of cheating software while the state of Washington has filed a notice of penalty against Volkswagen. VW said settlement talks will … More »

  • BRIEF-Hartalega Holdings lays off almost 600 people in Q1 - Nikkei Reuters - 3 hours ago

    Aug 23 (Reuters) - Nikkei: * Hartalega Holdings has fired almost 600 people in a "cost management exercise", which is close to 10 percent of its headcount in Q1 - Nikkei Source text for Eikon:... … More »

  • Spain balcony-jumping craze: most are drunk Brits, study finds
    Spain balcony-jumping craze: most are drunk Brits, study finds AFP News - 3 hours ago

    They're young, mostly British, on holiday, drunk and sometimes high, and they decide to jump from their hotel or apartment balcony into the pool. The so-called "balconing" craze has taken off to such an extent in Spain's Balearic Islands that … More »

  • Campaign's rising rent at Trump Tower came as space expanded
    Campaign's rising rent at Trump Tower came as space expanded Associated Press - 3 hours ago

    Donald Trump's campaign is taking up more space inside Trump Tower in New York -- and paying a lot more in rent. The Republican presidential nominee's campaign paid $35,457 per month for rent and utilities ... … More »

  • European markets rise on better data
    European markets rise on better data AFP News - 4 hours ago

    European stock markets rebounded on Tuesday, driven by improving eurozone data and signs that the initial impact of Britain's shock EU exit vote may not be as bad as feared. Investors were also looking to a speech on Saturday from Federal Reserve … More »

  • Danish lawmakers to visit Australia's Nauru migrant camp
    Danish lawmakers to visit Australia's Nauru migrant camp AFP News - 4 hours ago

    Danish lawmakers will travel to the Pacific island of Nauru to visit a controversial Australian immigration centre and study the use of offshore settlements for asylum-seekers, one of the MPs said Tuesday. Six members of the Danish parliament's … More »


    Aug 23 (Reuters) - Following are Indonesian prices for crude palm oil (CPO) quoted at an auction by PT KPB Nusantara (formerly known as the state marketing centre) on Monday. Buyer Volume Price Terms (tonnes) ... … More »

  • RUBBER-Tokyo futures prices after evening session Aug 23 Reuters - 4 hours ago

    Following are prices for Tokyo rubber futures at the end of the Tokyo market's evening session on Aug 2016. Contract Day Volume Evening Volume * Aug 169.2 - 161.4 13 * Sep 163.8 23 161.8 26 * Oct 161.9 ... … More »

  • Turkey vows 'all kinds of support' for anti-IS Jarabulus operation
    Turkey vows 'all kinds of support' for anti-IS Jarabulus operation AFP News - 4 hours ago

    Turkey pledged Tuesday to give "all kinds of support" to push Islamic State (IS) jihadists out of the Syrian town of Jarabulus near the two countries' border. Foreign Minister Mevlut Cavusoglu made the promise amid reports Ankara-backed rebels were … More »

Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
to view quotes in your portfolios.


  • Most Actives
    Most Actives
    NamePriceChange% Chg
  • % Gainers
    % Gainers
    NamePriceChange% Chg
  • % Losers
    % Losers
    NamePriceChange% Chg

Market Data

  • Currencies
    NamePriceChange% Chg
  • Commodities
    NamePriceChange% Chg
  • Bonds
    TreasuryYield (%)Yield Change