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.
Loading...
  • NTSB has yet to interview injured engineer in deadly crash
    NTSB has yet to interview injured engineer in deadly crash Associated Press - 21 minutes ago

    National Transportation Safety Board investigators held off questioning the engineer in the deadly Hoboken train crash because of his injuries Friday and struggled to lift clues from the train's black ... … More »

  • The Latest: Investigators say train crew 'very cooperative'
    The Latest: Investigators say train crew 'very cooperative' Associated Press - 28 minutes ago

    The Latest on a commuter train that crashed into a station in New Jersey, killing one person and injuring more than 100 others (all times local): 7:20 p.m. The National Transportation Safety Board says ... … More »

  • PM May orders employment law review as labour market changes
    PM May orders employment law review as labour market changes Reuters - 35 minutes ago

    British Prime Minister Theresa May ordered a review of employment practices on Saturday, saying she wanted to ensure workers' rights were protected under changing business models and a growing trend towards flexible or self-employment. The review … More »

  • Hammond says Brexit deal should not harm economy - Telegraph
    Hammond says Brexit deal should not harm economy - Telegraph Reuters - 39 minutes ago

    British controls on immigration following the country's referendum decision to leave the European Union must not be damaging for the economy, finance minister Philip Hammond was quoted as saying in the Daily Telegraph story on Friday. Hammond told … More »

  • China's yuan joins elite club of IMF reserve currencies Reuters - 47 minutes ago

    China's yuan joins the International Monetary Fund's basket of reserve currencies on Saturday in a milestone for the government's campaign for recognition as a global economic power. It is the first time that a currency has been added to sit … More »

  • Stocks rebound in Deutsche Bank-led volatile trading
    Stocks rebound in Deutsche Bank-led volatile trading AFP News - 56 minutes ago

    US and eurozone shares pushed higher Friday in volatile trade driven by Deutsche Bank's negotiations to settle US charges over its sale of toxic mortgage bonds before the financial crisis. News that Deutsche Bank was close to a much lower … More »

  • Accounting software maker BlackLine files for IPO Reuters - 1 hour 11 minutes ago

    Los Angeles-based BlackLine, founded in 2001 by Chief Executive Therese Tucker, counts Coca-Cola Co (KO.N), Under Armour (UA.N) and Dow Chemical Co (DOW.N) among its 1,500 customers. Reuters reported last week that the company was preparing for an … More »

  • Florida Lottery plans major expansion under huge new deal Associated Press - 1 hour 26 minutes ago

    The Florida Lottery — which just registered more than $6 billion in annual sales — is in line for a large expansion due to a massive new contract that state officials signed this month. Lottery officials, ... … More »

  • Deutsche Bank pressure eases as US fine looks smaller
    Deutsche Bank pressure eases as US fine looks smaller AFP News - 1 hour 31 minutes ago

    Heavy market pressure on Deutsche Bank eased Friday as a knowledgeable source told AFP the US fine over toxic debt it sold would be only $5.4 billion, not the $14 billion originally demanded. A person familiar with the talks between Deutsche Bank … More »

  • A Deutsche Bank settlement overshadows U.S. equities
    A Deutsche Bank settlement overshadows U.S. equities Reuters - 1 hour 39 minutes ago

    Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds. Deutsche shares traded … More »

  • A Yahoo insider believes the hackers could really have stolen over 1 billion accounts
    A Yahoo insider believes the hackers could really have stolen over 1 billion accounts Business Insider - 1 hour 39 minutes ago

    REUTERS/Ruben Sprich Yahoo CEO Marissa Mayer The actual … Continued The post A Yahoo insider believes the hackers could really have stolen over 1 billion accounts appeared first on Business Insider. … More »

  • IMF leader cites 'historic milestone' for China
    IMF leader cites 'historic milestone' for China Associated Press - 1 hour 46 minutes ago

    Christine Lagarde, the managing director of the International Monetary Fund, is calling the inclusion of China's renminbi as the fifth currency in an elite group of the world's reserve currencies an "important ... … More »

  • Chinese yuan set to join IMF's elite currency basket
    Chinese yuan set to join IMF's elite currency basket AFP News - 1 hour 49 minutes ago

    China's yuan is poised to enter the International Monetary Fund's elite SDR basket of currencies, elevating Beijing's banknotes into a family long exclusive to global reserve assets. A symbolic coup for policymakers in Beijing, the move represents … More »

  • Business Highlights Associated Press - 1 hour 53 minutes ago

    ___ Malls, stores consider new ways to protect shoppers More sophisticated cameras. Security robots. Customers feeling shaken by recent attacks at U.S. malls may not notice huge changes — but mall operators ... … More »

  • The only executive to hold a high-ranking position at both Uber and Lyft is leaving Uber
    The only executive to hold a high-ranking position at both Uber and Lyft is leaving Uber Business Insider - 1 hour 55 minutes ago

    Uber Uber’s VP of Driver Growth, Travis VanderZanden, … Continued The post The only executive to hold a high-ranking position at both Uber and Lyft is leaving Uber appeared first on Business Insider. … More »

  • Trump vs Miss Universe: White House race hits new low
    Trump vs Miss Universe: White House race hits new low AFP News - 2 hours 26 minutes ago

    Donald Trump urged voters on Friday to check out the supposed "sex tape" of a former Miss Universe backing his rival Hillary Clinton, provoking the Democrat to label him "unhinged" in a surreal new turn to the White House race. In a pre-dawn … More »

  • Data storage provider Nutanix soars in market debut
    Data storage provider Nutanix soars in market debut Reuters - 2 hours 28 minutes ago

    After getting strong encouragement from investors, the company kept nudging up the asking price for shares from the $11 to $13 range set early last week, co-founder and Chief Executive Officer Dheeraj Pandey said in an interview on Friday. … More »

  • Municipal-bond week in review: Yields sag then finish strong Associated Press - 2 hours 31 minutes ago

    Yields on municipal and Treasury bonds sagged this week on concerns about the health of Germany's largest bank, before retracing their steps on Friday. The 10-year yield on the AP Municipal Bond index ... … More »

  • Nutanix exceeds expectations in upsized IPO Reuters - 3 hours ago

    San Jose, California-based Nutanix's share price exceeds the $13.40 value last placed on its shares in a 2014 funding round, an upgrade encouraging for the many unprofitable technology companies that, like Nutanix, have been weary of testing public … More »

  • US stocks rally on Deutsche Bank deal AFP - 3 hours ago

    US stocks rose strongly Friday as financial shares surged on news that Deutsche Bank was near a settlement with US regulators over its sale of toxic mortgage bonds before the financial crisis. US-traded ... … More »

  • How the Dow Jones industrial average fared on Friday Associated Press - 3 hours ago

    U.S. stocks climbed Friday as banks made a rapid recovery following a steep fall a day ago. Investors hoped Deutsche Bank and the financial system in general were in better shape than they had feared. ... … More »

  • Global stocks jump, euro edges up as Deutsche Bank rebounds
    Global stocks jump, euro edges up as Deutsche Bank rebounds Reuters - 3 hours ago

    By Richard Leong NEW YORK (Reuters) - Stock prices across major markets rose on Friday, while the euro stabilized as Deutsche Bank's shares recovered from record lows on a report it is close to a deal ... … More »

  • Dutch summon Russian ambassador over MH17 comments
    Dutch summon Russian ambassador over MH17 comments AFP News - 3 hours ago

    Dutch Foreign Minister Bert Koenders has summoned Russia's ambassador over "unacceptable" comments by Moscow criticising a report into the downing of flight MH17, officials said on Friday. "Responding to the presentation of the initial findings... … More »

  • Oil up second straight month on OPEC-fuelled rally
    Oil up second straight month on OPEC-fuelled rally Reuters - 3 hours ago

    Oil prices settled mixed on Friday while posting their second straight monthly gain on OPEC's planned output cuts, even as scepticism about the cartel's pledge grew after data suggested another record high in its production. Brent crude settled up … More »

  • Stocks jump, euro edges up as Deutsche Bank rebounds
    Stocks jump, euro edges up as Deutsche Bank rebounds Reuters - 3 hours ago

    By Richard Leong NEW YORK (Reuters) - Stock prices across major markets rose on Friday, while the euro stabilized as Deutsche Bank's shares recovered from record lows on a report it is close to a deal ... … 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.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.152-0.008-5.00%
    N21.SI
    0.12+0.01+12.15%
    40F.SI
    0.115+0.003+2.68%
    40E.SI
    0.113+0.007+6.60%
    43E.SI
    3.97-0.05-1.24%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.186+0.025+15.53%
    AWS.SI
    0.12+0.01+12.15%
    40F.SI
    0.164+0.016+10.81%
    40N.SI
    1.35+0.11+8.43%
    U19.SI
    0.475+0.035+7.95%
    NC2.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.36-0.24-40.00%
    AWG.SI
    0.20-0.06-23.08%
    AWI.SI
    0.27-0.03-11.48%
    BQO.SI
    0.30-0.03-9.09%
    5VP.SI
    0.265-0.025-8.62%
    BKA.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3618-0.0022-0.16%
    USDSGD=X
    1.5296-0.0004-0.03%
    EURSGD=X
    1.7640-0.0041-0.23%
    GBPSGD=X
    74.1220+0.051+0.07%
    SGDJPY=X
    5.6879+0.0039+0.07%
    SGDHKD=X
    3.0355+0.0126+0.42%
    SGDMYR=X
    9,608.6318+65.9189+0.69%
    SGDIDR=X
    4.8930+0.006+0.12%
    SGDCNY=X
    1.0421+0.0012+0.12%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,318.80-7.20-0.54%
    GCZ16.CMX
    19.25+0.06+0.30%
    SIZ16.CMX
    94.00-1.01-1.06%
    ^XAU
    2.21+0.02+1.07%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.16+0.04
    ^FVX
    1.61+0.05
    ^TNX
    2.34+0.06
    ^TYX