Asian shares mostly gain

Dhaka,  Mon,  21 August 2017
Published : 16 Mar 2017, 11:05:21
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Asian shares rise after fed hike

Asian shares mostly gain
Asian stock markets mostly gained Thursday after the US Federal Reserve raised interest rates and a Eurosceptic party lost Dutch elections, but Japanese stocks were steady.

Tokyo's Nikkei 225 index was flat at 19,578.06 while the Shanghai Composite gained 0.6 per cent to 3,262.90. Hong Kong's Hang Seng added 1.2 per cent to 24,084.14.

Seoul's Kospi rose 0.5 per cent to 2,144.37. Benchmarks in New Zealand, Taiwan and Singapore gained while Malaysia fell. Sydney's S&P-ASX 200 fell 0.1 per cent to 5,770.20.

The Fed raised short-term interest rates by a quarter of a percentage point, its third such move since the end of 2015. The move was widely expected. 

Stocks rose as investors took the Fed's widely anticipated rate hike in stride. The S&P 500 index jumped 0.8 per cent to 2,385.26. The Dow Jones industrial average rose 0.5 per cent to 20,950.10. 

The Nasdaq composite picked up 0.7 per cent to 5,900.05. Gains were widespread, and seven stocks rose on the New York Stock Exchange for every one that fell.

Benchmark US crude rose 26 cents to $49.12 per barrel in electronic trading on the New York Mercantile Exchange. The contract soared $1.14 on Wednesday to $48.86. 

Brent crude, used to price international oils, added 30 cents to $52.11. It gained 89 cents the previous session to $51.81.

The dollar gained to 113.40 yen from Wednesday's 113.38 yen. The euro weakened to $1.0726 from $1.0732, according to AP.
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