Nikkei Rises After US Market Friday Revival

Asian stock markets ended higher, having been boosted by a rebound in US stocks on Friday, with Japan’s Nikkei recording its biggest daily rise since June 2013.

The benchmark Nikkei 225 index closed up 579.72 points, or 4%, at 15,111.23.

Shares in Japanese exporters were boosted as the dollar rose against the yen, reaching 107.345 yen.

Among the gainers, Toyota shares jumped 5.2%, Honda rose 3.5% and shares in Panasonic were up 4.5%.

The rises in Asia followed better-than-expected economic data and earnings from the US, which helped to settle Wall Street on Friday after a tumultuous few days of trading last week.

Disappointing economic news from Germany, China and Japan had led to concerns from investors about the health of the world economy. The potential impact of the Ebola crisis has also hit sentiment.

Hong Kong’s Hang Seng Index closed up 47.05 points at 23,070.26, while on the mainland the Shanghai Composite ended 15.54 points higher at 2,356.73.

Australia’s ASX 200 index closed up nearly 1% at 5,319.44, with the banking and mining sector contributing to the upward movement.

In South Korea, the Kospi index finished up 29.40 points, or 1.55%, at 1,930.06.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza