News Column

Asia win streak continues

February 12, 2014

Asian stocks rose, as China trade data and comments by U.S. Federal Reserve Chairman Janet Yellen boosted optimism about the world's biggest economies.

Japan's Nikkei 225 index returned from holiday to gain 81.72 points, or 0.6%, to 14,800.06

The Hang Seng Index in Hong Kong ballooned 322.81 points, or 1.5%, to 22,285.79

Camera-maker Canon Inc. rose 1.2% in Tokyo. Agricultural Bank of China Ltd. climbed 2.7%, pacing gains among the nation's lenders listed in Hong Kong as data showed growth in mainland imports and exports last month exceeded estimates.

Toyota Motor Corp. pared its advance to 0.4% after the world's top carmaker said it will recall more than half of all Prius vehicles to update software.

China Construction Bank, the nation's second-largest lender, rose 1.7% to HK$5.43. Industrial & Commercial Bank of China Ltd., the country's biggest, added 1.5% to HK$4.82.

Sony Corp., the maker of Bravia televisions and PlayStation video-game consoles, jumped 3.7% to 1,765 yen. The Nikkei newspaper reported the company is in talks to supply more camera components for Apple Inc.'s new iPhone.

Among stocks that declined, CSL Ltd. fell 3% to A$67.75 in Sydney. Australia's biggest pharmaceutical company reported first-half revenue that missed estimates and profit growth was crimped by charges related to a U.S. lawsuit.


The Shanghai CSI 300 Index gained 5.69 points, or 0.3%, to 2,291.25

China's overseas shipments surged 10.6% last month from a year earlier, according to a government report, defying signs the world's second-largest economy is losing momentum while fueling speculation that fake shipments are resurfacing.

The increase compares with the 0.1% median growth estimate by analysts. Imports rose 10%, according to the government data.

In other markets;

Taiwan's Taiex Index grew 80.31 points, or 1%, to 8,510.87

Singapore's Straits Times Index moved higher 6.35 points, or 0.2%, to 3,035.45

Korea's Kospi Index took on 3.78 points, or 0.2%, to 1,935.84

The New Zealand Exchange 50 index added 21.09 points, or 0.4%, to 4,869.97

In Australia, the S&P/ASX 200 moved 55.56 points, or 1.1%, to 5,310.05

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Source: Baystreet Foreign Markets Wrap (Canada)

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