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Monday, 06 April 2009 09:17:09 GMT
Written by David Song, Analyst, Geng Chen, CFDtrading.com
Full Article
Asian stocks rose for a fourth day on Monday, led by the rally in the Hong Kong market, after Wall Street ended higher on Friday to mark its fourth consecutive week of gains. Broad based gains in financials and basic materials led the markets higher, while shares of Japanese exporters such as Panasonic and Mazda surged higher after the U.S. dollar pushed above 101 Yen for the first time since October.
Asia Session Key Developments
· USD/JPY breaks 101.00 to reach a five-month high
· Oil prices rise 1.5% to $53/bbl
Asian Stock Markets Surge Higher, Led by Higher Commodity Prices, Rising Exchange Rates
Asian stocks rose for a fourth day on Monday, led by the rally in the Hong Kong market, after Wall Street ended higher on Friday to mark its fourth consecutive week of gains. Broad based gains in financials and basic materials led the markets higher, while shares of Japanese exporters such as Panasonic and Mazda surged higher after the U.S. dollar pushed above 101 Yen for the first time since October. Meanwhile, Europe’s largest bank, HSBC, jumped after raising nearly $18 billion in capital.
NKY 225 8857.93
Japan’s Nikkei 225 Stock Average gained 108.09 points, or 1.24% to end the session at 8857.93. Mazda Motor Corp, Japan’s second largest car exporter, surged 10% after the yen declined to a five-month low against the dollar and euro, while Panasonic Corp, the world’s largest consumer electronics maker, jumped 2.3% after Nomura Holdings Inc. raised the stock to “buy”.
HSI 14998.04
The Hang Seng Index rallied 452.35 points, or 3.11% to end at 14998.04, which was led by a 4.25% gain in basic materials. The rise was also powered by a 4.13% advanced in industrials and a 3.46% increase in financials. Aluminum Corp. of China Ltd, the nation’s biggest producer of the metal, jumped 6.4% while PetroChina Co. climbed 3.7% after metals and oil prices continued to push higher, and HSBC Holdings Plc, Europe’s biggest bank, rose 3.4% after raising $17.7 billion from the largest corporate rights offering in the U.K.
ASX 200 3756.60
Australia’s ASX 200 Index rose 21.00 points, or 0.56% to close at 3756.60 in Sydney, powered by a 4.21% gain in telecommunications and s 1.18% advance in financials. Telstra Corp, Australia’s largest telephone company surged 4.6% after underperforming last week, while the National Australia Bank jumped 2.2%, which led banking share higher.
CFDTrading provides news on the economic reports and political events that influence the CFD traders.
Written by David Song, Analyst, Geng Chen, CFDtrading.com
Full Article
Asian stocks rose for a fourth day on Monday, led by the rally in the Hong Kong market, after Wall Street ended higher on Friday to mark its fourth consecutive week of gains. Broad based gains in financials and basic materials led the markets higher, while shares of Japanese exporters such as Panasonic and Mazda surged higher after the U.S. dollar pushed above 101 Yen for the first time since October.
Asia Session Key Developments
· USD/JPY breaks 101.00 to reach a five-month high
· Oil prices rise 1.5% to $53/bbl
Asian Stock Markets Surge Higher, Led by Higher Commodity Prices, Rising Exchange Rates
Asian stocks rose for a fourth day on Monday, led by the rally in the Hong Kong market, after Wall Street ended higher on Friday to mark its fourth consecutive week of gains. Broad based gains in financials and basic materials led the markets higher, while shares of Japanese exporters such as Panasonic and Mazda surged higher after the U.S. dollar pushed above 101 Yen for the first time since October. Meanwhile, Europe’s largest bank, HSBC, jumped after raising nearly $18 billion in capital.
NKY 225 8857.93
Japan’s Nikkei 225 Stock Average gained 108.09 points, or 1.24% to end the session at 8857.93. Mazda Motor Corp, Japan’s second largest car exporter, surged 10% after the yen declined to a five-month low against the dollar and euro, while Panasonic Corp, the world’s largest consumer electronics maker, jumped 2.3% after Nomura Holdings Inc. raised the stock to “buy”.
HSI 14998.04
The Hang Seng Index rallied 452.35 points, or 3.11% to end at 14998.04, which was led by a 4.25% gain in basic materials. The rise was also powered by a 4.13% advanced in industrials and a 3.46% increase in financials. Aluminum Corp. of China Ltd, the nation’s biggest producer of the metal, jumped 6.4% while PetroChina Co. climbed 3.7% after metals and oil prices continued to push higher, and HSBC Holdings Plc, Europe’s biggest bank, rose 3.4% after raising $17.7 billion from the largest corporate rights offering in the U.K.
ASX 200 3756.60
Australia’s ASX 200 Index rose 21.00 points, or 0.56% to close at 3756.60 in Sydney, powered by a 4.21% gain in telecommunications and s 1.18% advance in financials. Telstra Corp, Australia’s largest telephone company surged 4.6% after underperforming last week, while the National Australia Bank jumped 2.2%, which led banking share higher.
CFDTrading provides news on the economic reports and political events that influence the CFD traders.