Asian stocks mixed despite Wall Street rally

SEOUL, Korea, Republic Of - Asian stock markets were mixed Friday as investors were reluctant to return to risky assets despite ebbing fear about the Chinese currency devaluations and Wall Street rallies overnight.

See Full Article

The price of oil fell.

KEEPING SCORE: Japan's Nikkei 225 rebounded after a steep fall in the previous session, gaining 0.7 per cent to 17,367.22. Australia's S&P/ASX 200 added 0.2 per cent to 4,919.90. But South Korea's Kospi lost 0.2 per cent to 1,893.86 while Hong Kong's Hang Seng index fell 0.5 per cent to 19,705.63. China's Shanghai Composite Index was down 1 per cent to 2,979.08. Stocks in Southeast Asia were mostly higher.

THE QUOTE: "Asian markets look set for a bounce today, but its sustainability is still an open question," said Angus Nicholson, a market analyst at IG in Melbourne, Australia. "Some sense of stability does seem to have been wrestled into the Chinese yuan this week, but the Chinese equity markets have been more immune to muscular shows of state intervention."

U.S. DATA WATCH: Investors may get more insight into how the U.S. economy and Corporate America are doing on Friday. Reports on consumer sentiment, retail sales and manufacturing are due out. Several big banks, including Citigroup and Wells Fargo, are also scheduled to release quarterly earnings.

WALL STREET: U.S. stocks finished higher with the biggest gain in over a month thanks to a rally in energy stocks. The Dow rose 227.64 points, or 1.4 per cent, to 16,379.05. The Standard & Poor's 500 index gained 31.56 points, or 1.7 per cent, to 1,921.84. The Nasdaq composite added 88.94 points, or 2 per cent, to 4,615.

OIL: The price of crude oil fell again after a rebound in the previous session although it still traded above $30 a barrel. Benchmark U.S. crude fell 58 cents to $30.62 per barrel in New York. The contract rose 72 cents, or 2.4 per cent, to close at $31.20 a barrel on Thursday. Brent crude, a benchmark for international oils, fell 21 cents to $30.67 per barrel in London.

CURRENCIES: The euro rose to $1.0878 from $1.0859, while the dollar fell to 117.99 yen from 118.20 yen.



Advertisements

Latest Economic News

  • Disability in demand: People with autism offer employers a broader talent pool

    Economic CBC News
    He's a former job pariah who's suddenly a hot new hire, a university graduate with astonishing analytical abilities who could barely answer a question during job interviews. Now the very reason Shawn Bolshin couldn't get a job is the very reason he has one. Source
  • Liberals turn to pasta to move past 3 months of fuss and fury over tax fairness

    Economic CBC News
    When the prepared statements were finished and the floor was opened for questions, the first reporter in line wanted to question Bill Morneau, about not just the government's tax changes, but also whether the finance minister's personal wealth was being ethically managed. Source
  • Asian stocks little changed after Wall Street hits new highs

    Economic CTV News
    BEIJING - Asian stocks were little-changed Tuesday after Wall Street's major indexes rose to new highs as China prepared to open a key political meeting. KEEPING SCORE: The Shanghai Composite Index was off 0.1 per cent at 3,374.66 while Tokyo's Nikkei 225 was unchanged at 21,260.89. Source
  • Bombardier to partner with Airbus on CSeries program

    Economic CBC News
    Fred Cromer, president of commercial aircraft at Bombardier Aerospace, speaks to reporters at Bombardier's plant in Mirabel, Que. Source
  • Europe's Airbus to buy majority stake in Bombardier CSeries program

    Economic CBC News
    Fred Cromer, president of commercial aircraft at Bombardier Aerospace, speaks to reporters at Bombardier's plant in Mirabel, Que. Source
  • Netflix sinking deeper into debt to fuel subscriber growth

    Economic CTV News
    SAN FRANCISCO -- Netflix is sinking deeper into debt in its relentless pursuit of more viewers, leaving the company little margin for error as it tries to build the world's biggest video subscription service. The big burden that Netflix is shouldering hasn't been a major concern on Wall Street so far, as CEO Reed Hastings' strategy has been paying off. Source
  • Airbus to buy majority stake in Bombardier CSeries program

    Economic CTV News
    MONTREAL -- European aircraft giant Airbus Group is buying a majority stake in Bombardier's CSeries program. The two aircraft manufacturers announced the partnership Monday evening, weeks after the United States announced 300 per cent preliminary duties on exports of the aircraft following a complaint from Airbus rival Boeing. Source
  • Airbus shakes up industry with majority stake in Bombardier CSeries program

    Economic CTV News
    MONTREAL -- European aircraft giant Airbus Group is shaking up the global airline business by buying a majority stake in Bombardier's CSeries program and assembling the plane in the U.S. to avoid import duties. The two aircraft manufacturers announced the partnership Monday evening, weeks after the United States announced 300 per cent preliminary duties on exports of the aircraft following a complaint from Airbus rival Boeing. Source
  • Securities regulator sets out rules for Canadian marijuana stocks with U.S. interests

    Economic CBC News
    The Canadian Securities Administrators set out "specific disclosure expectations" for marijuana industry firms with investments in the U.S., offering much-anticipated clarity for companies that operate on both sides of the border. The umbrella organization for Canada's provincial and territorial securities regulators put out a staff notice, saying that cannabis companies must tell investors about certain risks when they invest south of the border — where growing and selling marijuana remains…
  • Regulators set rules for cross-border pot listings

    Economic CTV News
    TORONTO -- The Canadian Securities Administrators set out "specific disclosure expectations" for marijuana industry firms with investments in the U.S., offering much-anticipated clarity for companies that operate on both sides of the border. The umbrella organization for Canada's provincial and territorial securities regulators put out a staff notice, saying that cannabis companies must tell investors about certain risks when they invest south of the border -- where growing and selling…