TOKYO (AP) – Global shares were mostly higher yesterday as investors welcomed encouraging economic data and quarterly earnings reports from big companies.
European shares mostly headed higher in early trading.
Benchmarks advanced in Asia as jitters eased over United States (US) House Speaker Nancy Pelosi’s visit to Taiwan. The gains followed a strong rally on Wall Street.
France’s CAC 40 added 0.5 per cent in early trading to 6,501.54, while Germany’s DAX gained 0.7 per cent to 13,688.05.
Britain’s FTSE 100 fell 0.3 per cent to 7,426.95.
The future for the Dow industrials inched up less than 0.1 per cent while that for the S&P 500 also was little changed, up by less than 0.1 per cent.
Analysts said geopolitical risks remained.
“Despite the easing in immediate concerns, investors will be looking out for any potential escalation in US-China tensions, with any economic sanctions from China likely to negatively affect risk sentiment and positioning in Asian markets,” said Anderson Alves of ActivTrades.
Alves said investors are also watching US non-farm payrolls, due today, for indications on hiring, and how that might affect interest rate policy.
Japan’s benchmark Nikkei 225 added 0.7 per cent to finish at 27,932.20. Australia’s S&P/ASX 200 lost earlier gains, shedding just one point to 6,974.90. South Korea’s Kospi added 0.5 per cent to 2,473.11. Hong Kong’s Hang Seng rose 2.1 per cent to 20,174.04, while the Shanghai Composite climbed 0.8 per cent to 3,189.04.
India’s Sensex lost 0.6 per cent and the Taiex in Taiwan also fell 0.5 per cent.
Earnings remain in focus this week as investors parse the latest results and statements from companies to better understand how inflation is affecting businesses and consumers.
Oil prices rose following OPEC’s decision to boost production in September at a much slower pace than previous months. Benchmark US crude added 50 cents to USD91.16 a barrel.
On Wednesday, US crude oil fell four per cent to settle at USD90.66 per barrel.
Brent crude, the international standard, added 29 cents to USD97.07 a barrel.
Upcoming data on the US jobs market could help investors determine how the Federal Reserve will move ahead with its interest rate policy, which has been aggressive in an effort to try and tame inflation.
In currency trading, the US dollar edged up to JPY134.24 from JPY133.85. The euro cost USD1.0166, little changed from USD1.0170.
