Wall Road highs buoy Asia equities


Tuesday 2.15am GMT

The temper

Simultaneous document highs for Wall Road’s foremost equities gauges and better oil costs have Asian markets in a superb temper on Tuesday.

Standout story

On Monday the Dow Jones Industrial Common, S&P 500, Nasdaq Composite and small-cap targeted Russell 2000 all closed at document highs for the primary time since December 31 1999, based on Monetary Occasions evaluation of day by day Bloomberg knowledge.

Power shares drove positive factors because of a greater than four per cent bounce within the worth of oil, whereas considerations about US greenback power have been sidelined after the dollar closed decrease following a close to-document profitable streak of 10 periods.

Regional tremors

That sentiment coming from the US might have helped buyers look previous two earthquakes this morning, with a 7.four magnitude quake that struck off the coast of Fukushima prefecture in Japan and a 5.6 magnitude temblor off the north island of New Zealand.

Shares in Japan are buying and selling comparatively near par, however Tokyo Electrical Energy Firm, proprietor of the Fukushima Daiichi nuclear energy plant, is down 1.four per cent. The plant was broken and skilled a meltdown in 2011 following the earthquake and tsunami in March of that yr. Native media have reported Tepco as saying it has detected no abnormalities at its nuclear crops.


The yen has strengthened zero.2 per cent to ¥‎one hundred ten.sixty four per greenback following this morning’s earthquake, however had traded by means of the ¥‎111 mark on Monday for the primary time since Might 31. The New Zealand greenback pared positive factors after the earthquake there, however had recovered to be zero.2 per cent stronger.

Aiding with a restoration in almost all Asian currencies was a weaker dollar. The greenback index, a measure of the US foreign money towards a basket of friends, was down zero.2 per cent at one hundred.eighty two.


Japan’s benchmark Topix was up zero.2 per cent, whereas the worth-targeted Nikkei 225 was flat. Australia’s S&P/ASX 200 gained 1.2 per cent, pushed by power shares, whereas Hong Kong’s Cling Seng gained 1.three per cent. China’s Shanghai Composite was up zero.2 per cent and the know-how-targeted Shenzhen Composite rose zero.three per cent.


Rising expectations that Opec members would agree to provide cuts at a gathering later this month in Vienna pushed oil costs up greater than four per cent on Monday. Costs rose an extra 1 per cent in Asia on Tuesday, with Brent crude, the worldwide benchmark, at $forty nine.37 a barrel and West Texas Intermediate at $forty eight.70.

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