Asian markets rise, yen weakens on Japan stimulus

Asian markets mostly climbed on Friday after data showed the US economy grew more than first expected in the third quarter while traders remain upbeat a deal will be made on averting the fiscal cliff.

The yen eased further against the dollar and euro after the Japanese government announced a huge spending spree to kickstart the economy just weeks before a general election.

Tokyo closed 0.48 percent, or 45.13 points, higher at 9,446.01, Sydney ended up 0.63 percent, or 28.3 points, at 4,506.0 but Seoul finished 0.10 percent, or 1.95 points, lower at 1,932.90, reversing early day gains.

Hong Kong closed 0.49 percent higher adding 107.50 points to 22,030.39, while Shanghai was up 0.85 percent, or 16.63 points, at 1,980.12.

The US Commerce Department said Thursday the economy grew 2.7 percent in the three months to September, faster than the 2.0 percent first estimated, reflecting in part increases in government spending and private inventory investment.

However, growth in consumer spending, which accounts for 70 percent of output, was revised down to 1.4 percent, just slightly above the second-quarter pace.

Also, jobless claims fell back to 393,000 in the most recent week, the Labor Department said Thursday.

The figures provide a general view that the country is gradually getting back on its feet, which will have a positive knock-on effect for the global economy.

Lawmakers in Washington are locked in tough talks on averting the fiscal cliff of tax hikes and spending cuts to come into effect on January 1, which could tip the economy back into recession.

But while Republican House Speaker John Boehner has rejected as "ridiculous" President Barack Obama's first proposal to cut the country's deficit, investors are broadly confident a deal will be achieved by the end of the year.

Wall Street's main indexes finished in positive territory for a second straight day. The Dow was up 0.28 percent, the S&P 500 gained 0.43 percent and the Nasdaq added 0.68 percent.

On currency markets traders sold the yen further after reports said the cabinet of Japan's Prime Minister Yoshihiko Noda approved a $10.7 billion stimulus ahead of December 16 polls that his ruling party is expected to lose.

The yen has taken a hit this month after Shinzo Abe, the leader of the opposition and the man expected to become prime minister after the vote, said he would push a more aggressive monetary easing policy.

In the afternoon the dollar rose to 82.58 yen from 82.10 yen in late Thursday New York trade, while the euro bought 107.46 yen, compared with 106.58 yen. It was also at $1.3012, from $1.2978.

The dollar is up 3.5 percent against the yen in November, while the euro has risen 3.3 percent.

Also providing a little support to Tokyo shares was news of a surprise rise in Japan's factory output for October.

Production grew 1.8 percent from the previous month, the first rise in four months and beating an average market forecast of a 2.2 percent drop.

On oil markets New York's main contract, West Texas Intermediate for January delivery, was down 21 cents to $87.86 a barrel in the morning, and Brent North Sea crude for January dropped 10 cents to $110.66.

Gold was at $1,728.37 at 1040 GMT compared with $1,724.60 late Thursday.

In other markets:

-- Taipei rose 1.02 percent, or 76.62 points, to 7,580.17.

HTC was up 2.7 percent at Tw$266.0 while TSMC gained 2.28 percent to Tw$98.7.

-- Wellington rose 0.83 percent, or 33.32 points, to 4,050.09

Fletcher Building up 1.41 percent at NZ$7.92, Chorus rising 1.8 percent to NZ$3.40 and Telecom Corp down 1.70 percent at NZ$2.31.

-- Kuala Lumpur was up 0.22 percent, or 3.51 points, at 1,610.83.

IHH Healthcare added 3.3 percent to 3.48 ringgit while Axiata Group rose 0.2 percent to 5.92 ringgit.

-- Jakarta ended down 0.99 percent, or 42.95 points, at 4,276.14.

Mobile phone provider Indosat dropped 11.9 percent to 5,550 rupiah and palm oil producer Astra Agro Lestari fell 3.23 percent to 18,000 rupiah.

-- Bangkok rose 1.10 percent, or 14.47 points, to 1,324.04.

Coal producer Banpu lost 0.75 percent to 395.00 baht while energy giant PTT gained 0.63 percent to 320.00 baht.

-- Singapore closed 0.80 percent, or 24.05 points, higher at 3,069.95.

Farm commodities supplier Olam, which has come under attack from US research firm Muddy Waters, was up 0.96 percent to Sg$1.575 after falling sharply over the past two weeks.

-- Mumbai rose 0.88 percent, or 168.99 points, to 19,339.90 points.

Private steel producer Jindal Steel rose 5.39 percent to 402 rupees while state-run oil explorer ONGC rose 4.44 percent to 264.9 rupees.

-- Manila was closed for a public holiday.


Get stories like this on the Yahoo app and discover more every day.
Download it now.
  • Tribune Media completes sale of Tribune Tower, other assets
    Tribune Media completes sale of Tribune Tower, other assets Associated Press - 5 minutes ago

    Tribune Media has completed the sale of several real estate assets, including the Tribune Tower in Chicago. The Chicago-based company announced last month that it was selling the 1925 neo-Gothic tower ... … More »

  • Swiss Exchange confident of post-Brexit access to EU stock market
    Swiss Exchange confident of post-Brexit access to EU stock market Reuters - 6 minutes ago

    The SIX Swiss Exchange said on Wednesday it was confident it can continue serving investors in the European Union without having to set up a new exchange after Britain exits the EU. Switzerland is not part of the EU and currently serves customers … More »

  • Tokyo to propose moving more venues for Olympics
    Tokyo to propose moving more venues for Olympics Associated Press - 12 minutes ago

    Tokyo's original plans for a compact Olympics in 2020 continue to fall by the wayside. A Tokyo government panel is set to propose moving more venues outside of the city — including hundreds of kilometers ... … More »

  • SABMiller investors cheer $100 billion-plus AB InBev takeover
    SABMiller investors cheer $100 billion-plus AB InBev takeover Reuters - 19 minutes ago

    LONDON/BRUSSELS (Reuters) - SABMiller (SAB.L) shareholders overwhelmingly backed the brewer's $100 billion-plus takeover by Anheuser-Busch InBev (ABI.BR) on Wednesday, clearing the last big hurdle for one of the largest corporate mergers in history. … More »

  • The Latest: Obama says people don't give Clinton credit
    The Latest: Obama says people don't give Clinton credit Associated Press - 22 minutes ago

    The Latest on the U.S. presidential election (all times EDT): 9:20 a.m. President Barack Obama says people don't give Hillary Clinton enough credit — perhaps partially because she's a woman. Obama was ... … More »

  • Lufthansa board approves takeover of Brussels Airlines
    Lufthansa board approves takeover of Brussels Airlines Reuters - 34 minutes ago

    Lufthansa (LHAG.DE) said its supervisory board has approved plans to acquire the remaining 55-percent stake in Brussels Airlines via the exercise of a call option as part of its plan to boost its low-cost unit Eurowings via acquisitions. The … More »

  • ING selling $300 million Kotak Mahindra stake - term sheet
    ING selling $300 million Kotak Mahindra stake - term sheet Reuters - 35 minutes ago

    Dutch financial services company ING Group is selling a $300 million stake in Indian lender Kotak Mahindra Bank Ltd in a block trade on Thursday, according to a deal term sheet seen by Reuters. The deal has an upsize option of up to $550 million, … More »

  • Credit Suisse CEO says bank relatively well positioned for Brexit
    Credit Suisse CEO says bank relatively well positioned for Brexit Reuters - 36 minutes ago

    Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam said on Wednesday that his bank was relatively well placed to deal with the impact of Britain's vote to leave the European Union. Credit Suisse's EU investment banking business is run out of … More »

  • Oil climbs on hopes of output-limiting deal in November
    Oil climbs on hopes of output-limiting deal in November Reuters - 44 minutes ago

    Oil prices rose on Wednesday, after sharp losses in the previous session, as the focus shifts to a potential output-curbing deal from OPEC later this year and a surprise drawdown in U.S. crude stocks. Brent crude (LCOc1) was up 59 cents to $46.56 a … More »

  • Tie-up of world's biggest beer makers clears final hurdle Associated Press - 47 minutes ago

    A deal worth over $100 billion to combine the world's two biggest beer companies cleared its last major hurdle Wednesday when the shareholders of SABMiller approved the takeover by Budweiser maker Anheuser-Busch ... … More »

  • Pakistan launches $500 million in Islamic bonds AFP - 50 minutes ago

    Pakistan is set to launch $500 million in Islamic bonds to raise money for its foreign exchange reserves, a senior official said Wednesday, as a three-year IMF bailout package nears a close. The government ... … More »

  • Deutsche Bank relief helps European markets regain footing
    Deutsche Bank relief helps European markets regain footing Associated Press - 51 minutes ago

    European stock markets brushed aside a mixed performance in Asia earlier Wednesday to post solid gains amid some relief over the financial future of Germany's largest bank, Deutsche Bank. KEEPING SCORE: ... … More »

  • BlackBerry outsourcing smartphone design in strategic shift; shares up
    BlackBerry outsourcing smartphone design in strategic shift; shares up Reuters - 57 minutes ago

    BlackBerry Ltd will outsource the development and design of its flagship smartphone, an industry it helped pioneer, as it bets its future on software and services, the Canadian technology company said on Wednesday. The new helped send BlackBerry … More »

  • Germany denies preparing Deutsche Bank rescue plan Reuters - 1 hour 16 minutes ago

    The German government denied it was working on a rescue of Deutsche Bank as Germany's biggest lender boosted its balance sheet by selling its British insurance business on Wednesday. Deutsche is facing a $14 billion fine from the U.S. Department of … More »

  • Owner of Malaysia's Proton shortlists 5 bids for equity sale Associated Press - 1 hour 21 minutes ago

    The owner of Malaysian national carmaker Proton says it has shortlisted five foreign partners for a partnership that includes an equity sale aimed at reviving the loss-making company. Syed Faisal Albar ... … More »

  • Saudis soften oil stance on Iran but OPEC deal still elusive Reuters - 1 hour 22 minutes ago

    OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeria … More »

  • Actuant tops 4Q profit forecasts Associated Press - 1 hour 22 minutes ago

    The Menomonee Falls, Wisconsin-based company said it had profit of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 30 cents per share. The results beat Wall Street expectations. ... … More »

  • Deutsche helps lift European stocks before Yellen, Draghi
    Deutsche helps lift European stocks before Yellen, Draghi Reuters - 1 hour 32 minutes ago

    By Nigel Stephenson LONDON (Reuters) - A recovery in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia ... … More »

  • Dissident SABMiller shareholder Aberdeen disappointed with vote Reuters - 1 hour 41 minutes ago

    LONDON (Reuters) - Aberdeen Asset Management (ADN.L), an SABMiller (SAB.L) shareholder that opposed the brewer's takeover by Anheuser Busch InBev (ABI.BR), said it was "obviously disappointed by not ... … More »

  • BlackBerry is giving up on making its own phones
    BlackBerry is giving up on making its own phones Business Insider - 1 hour 53 minutes ago

    Reuters John Chen, CEO of BlackBerry. It’s the … Continued The post BlackBerry is giving up on making its own phones appeared first on Business Insider. … More »

  • Deutsche gets lift from $1.2 billion sale of Abbey Life to UK's Phoenix Reuters - 1 hour 55 minutes ago

    Deutsche Bank AG (DBKGn.DE) has sold its British insurance business Abbey Life to Phoenix Group Holdings (PHNX.L) as it sheds non-core assets and reduces its balance sheet in an effort to reassure anxious investors and meet regulators' demands. … More »

  • Russian charged for flying drone over Polish PM's office AFP - 1 hour 56 minutes ago

    Polish prosecutors said on Wednesday they had charged a Russian citizen with violating airspace laws for allegedly flying an unauthorised drone over the prime minister's office in Warsaw. Identified only ... … More »

  • Any ECB scheme to buy stocks could total 200 billion euros - ABN AMRO Reuters - 1 hour 57 minutes ago

    The ECB is widely expected to extend its 1.7 trillion euro (£1.47 trillion) asset purchase programme given still low inflation and tepid economic growth, both of which the programme is designed to combat. In a note, ABN AMRO said the structure used … More »

  • Moldova bans Ukraine meat over African swine fever fears Associated Press - 2 hours 2 minutes ago

    Moldovan authorities are banning the import of live animals and meat from Ukraine due to fears of African swine fever. Agriculture Minister Eduard Grama says the ban begins Wednesday after several suspected ... … More »

  • European stocks rebound awaiting OPEC decision
    European stocks rebound awaiting OPEC decision AFP News - 2 hours 4 minutes ago

    European stock markets rebounded on Wednesday, brushing aside a broad retreat across Asia, as investors paid close attention to a meeting of OPEC to tackle a global supply glut. Around 1030 GMT, London's benchmark FTSE 100 index was up 0.7 percent. … 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