Business

Japan industrial production data lifts stocks



Search company or market
Search company or market:
Refresh this page Launch Marketwatch ticker
London | Wall Street | Asia

Nikkei 225 Index

Last Updated at 26 Sep 2017, 06:45 GMT Nikkei 225 one month chart
value change %
20330.19 -
-0.67
-
-0.33

Asia stocks received a lift from stronger-than-expected Japan industrial production and US consumer confidence data hitting a seven-month high.

Manufacturing output in the world's third-largest economy rose by 2.7% in September from a month earlier, beating forecasts for a 2.2% rise.

The regional benchmark MSCI Asia Pacific Index rose by 1.6% in Tokyo, marking its fourth day of gains.

Japan's Nikkei rose 1.5%, while South Korea's Kospi closed 1.8% higher.

Hong Kong stocks jumped 1.3% and the Shanghai Composite ended up 1.5%.

For many bourses across south-east Asia, it was also a sea of green with Singapore, Malaysia and Indonesia all in positive territory.

The rises followed an upbeat performance on Wall Street overnight, where the S&P 500 jumped 1.2% to close near a record high.

Markets will now be watching for the outcome of the Federal Reserve's two-day policy meeting, which finishes later on Wednesday.

The US central bank is expected to leave its key interest rate unchanged and possibly end its bond-buying stimulus programme.

Stock movers

Image copyright Getty Images
Image caption Wynn gets more than two-thirds of its sales from the Chinese territory of Macau

Japanese airbag manufacturer Takata saw its shares fall by nearly 6% on Wednesday after it was hit with a consumer lawsuit in the US.

Investors will also be digesting a slew of Asian corporate earnings out on Wednesday.

Shares in casino operator Wynn Macau rose 4.9% in Hong Kong after its parent company released better-than-expected earnings despite rising costs.

Wynn Resorts saw revenues of $1.4bn (£869m) in the third quarter, which was higher than estimates because of a revival at its two Las Vegas casinos.

Japan's biggest investment bank, Nomura, rose as much as 4% in Tokyo after it posted strong quarterly results on Tuesday and announced a second share buyback programme.

British lender Standard Chartered did not fare as well, however. Its Hong Kong-listed shares fell to a five-year low after the firm issued a profit warning on Tuesday.