Market Updates
Kospi Climbs 1.4%
Elena
26 Apr, 2006
New York City
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Asian markets finshed higher, lifted by improved global consumption outlook, following a rebound in oil prices and strong U.S. consumer confidence report. The Nikkei rose 0.5% to 17055.30, boosted by industrial and consumer-oriented stocks. South Korea
[R]7:45AM Asia finished in the positive.[/R]
Asian-Pacific benchmarks advanced across the region, lifted by improved global consumption outlook, following a rebound in oil prices and strong U.S. consumer confidence report. The Nikkei crossed the 17,000-key level for the first time in three days to rise 0.5% to 17055.30. The Japanese index was boosted by industrial and consumer-oriented stocks. Tech shares also gained on improved earnings estimates. Nikon jumped 8.5% on news that it would exceed its 2005 profit by 25%. Among other gainers, Canon rose 1.2% and Advantest gained 0.7%. South Korea’s Kospi surged to 1.4%, strongly supported by financial stocks, led by Kookmin Bank, up 2.8%. Australia’s All Ordinaries reached a historic high of 1.1%. Hong Kong’s Hang Seng added 0.6% on strong blue chips. Taiwan Weighted index climbed 0.5% to a five-year peak on blue-chip shares.
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