Business

Asian stocks follow Wall Street higher



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

Nikkei 225 Index

Last Updated at 22 Nov 2017, 06:46 GMT Nikkei 225 one month chart
value change %
22523.15 +
+1.07
+
+0.48
Man looks at Tokyo share board Image copyright Reuters

Asian stocks have risen following a rebound on Wall Street, with shares in Japan also helped by a weaker yen.

US stocks rebounded on Monday following sharp falls in the previous session, with the S&P 500 rising 0.9% and the Dow up 1.2%.

Japan's benchmark Nikkei rose 1.35% to close at 19,899.41, while the broader Topix added 1.6% to 1,607.72.

Shares in exporters such as Sony and Panasonic rose as the yen weakened, with the dollar climbing to 119.49 yen.

Sony shares rose 1.8% while rival Panasonic ended 3.7% higher.

Shares in camera-maker Canon fell initially on reports it may post lower profits because of poor sales in Europe.

According to the Nikkei newspaper, Canon's operating profits fell about 15% to 70bn yen ($586m) in the three months to March. However, Canon shares recovered to close 0.8% higher.

Hong Kong's Hang Seng index reversed the previous day's losses by rallying 2.8% to close at 27,850.49. The Shanghai Composite ended 1.8% higher at 4,293.62.

Australia's S&P/ASX 200 Index rose 0.7% to 5,872.30 after minutes from the Reserve Bank of Australia's (RBA) April meeting raised speculation of a fresh rate cut.

The RBA cut interest rates to 2.25% in February, but has kept them on hold at its past two meetings.

In South Korea, the Kospi index closed down 0.1% at 2,144.79.

Shares of Singapore-based telecoms group Singtel fell 1.6% after it announced plans to delist from the Australian Stock Exchange.

Southeast Asia's biggest telecommunications firm said the decision to lose its secondary listing stemmed from the low market demand for its securities in Australia.

Singtel operates the Optus network in Australia, making it the country's second-biggest telecommunications provider behind Telstra.

More on this story