GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Asian Shares Lifted by Wall Street Rally, China Leads Gains

Japan's Nikkei 225 jumped 1.0 percent to 21,595.81 and South Korea's Kospi rose 1.5 percent to 2,420.05. Hong Kong's Hang Seng index surged 2.2 percent to 30,108.75 and the Shanghai Composite Index advanced 1.8 percent to 3,212.01.

Associated Press

Updated:February 13, 2018, 10:28 AM IST
facebookTwittergoogleskypewhatsapp
Asian Shares Lifted by Wall Street Rally, China Leads Gains
A visitor is seen as market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo. (Image: Reuters)
Seoul: Asian shares tracked an overnight rally on Wall Street, with China leading Tuesday's gains.

KEEPING SCORE: Japan's Nikkei 225 jumped 1.0 percent to 21,595.81 and South Korea's Kospi rose 1.5 percent to 2,420.05. Hong Kong's Hang Seng index surged 2.2 percent to 30,108.75 and the Shanghai Composite Index advanced 1.8 percent to 3,212.01. Australia's S&P/ASX 200 rose 0.6 percent to 5,854.60. Share benchmarks in Southeast Asia and New Zealand were all higher.

ANALYST'S TAKE: A key question is whether the correction has already hit bottom, said Jingyi Pan, a market strategist at IG. "Nevertheless, the worst is likely not over for this week for the simple reason that we have U.S. CPI sitting as a mammoth event risk this week," said Pan, referring to the Wednesday release of U.S. consumer price index data for January.

WALL STREET: U.S. stocks finished higher on Monday. The Standard & Poor's 500, the benchmark for many index funds, gained 1.4 percent to 2,656. The Dow climbed 1.7 percent to 24,601.27 and the Nasdaq composite advanced 1.6 percent to 6,981.96. The Russell 2000 index of smaller-company stocks rose 0.9 percent to 1,490.98.

WHERE THINGS STAND: Investors remain wary of turbulence. It took just nine days for stocks to plunge 10 percent from their latest peak, which was reached on Jan. 26. A drop of that size is known on Wall Street as a market "correction." According to LPL Financial, it was the swiftest move from a record high to a correction in the history of the S&P 500. The index rose 1.5 percent Friday but still wound up with its worst weekly loss in more than two years.

OIL: Benchmark U.S. crude rose 40 cents to $59.69 per barrel in electronic trading on the New York Mercantile Exchange. It gained 9 cents to $59.29 a barrel on Monday. Brent crude, used to price international oils, advanced 43 cents to $63.03 per barrel in London.

CURRENCIES: The dollar rose to 108.68 yen from 108.66 yen. The euro rose to $1.2293 from $1.2289.

Also Watch

| Edited by: Puja Menon
Read full article
Most Active
Company Price Change %Gain
Reliance 920.80 +4.95 +0.54
Vedanta 251.80 +1.20 +0.48
TCS 3,585.80 -17.90 -0.50
United Spirits 3,250.30 +131.15 +4.20
SBI 266.95 -1.55 -0.58
Company Price Change %Gain
HDFC 1,820.00 +13.95 +0.77
Just Dial 507.40 +42.55 +9.15
Avenue Supermar 1,497.45 +93.25 +6.64
PC Jeweller 192.45 +4.40 +2.34
United Spirits 3,251.00 +128.95 +4.13
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 1,172.10 +60.30 +5.42
Hindalco 245.50 +11.40 +4.87
IOC 163.45 +7.55 +4.84
ONGC 175.45 +7.75 +4.62
HPCL 295.20 +11.95 +4.22
Company Price Change %Gain
ONGC 175.35 +7.70 +4.59
Tata Steel 567.20 +18.80 +3.43
Yes Bank 339.45 +8.95 +2.71
Adani Ports 379.90 +8.70 +2.34
IndusInd Bank 1,914.75 +43.55 +2.33
Top Losers
Company Price Change %Gain
Coal India 275.60 -4.50 -1.61
Tech Mahindra 702.75 -8.60 -1.21
Bharti Infratel 314.85 -3.50 -1.10
ITC 272.30 -2.55 -0.93
ICICI Bank 295.65 -2.05 -0.69
Company Price Change %Gain
Coal India 276.05 -3.80 -1.36
ITC 271.95 -2.85 -1.04
SBI 267.00 -1.50 -0.56
TCS 3,589.45 -15.35 -0.43
ICICI Bank 296.50 -0.75 -0.25