Market Report – Asian Stocks Hit 4 Month High

In today’s market report… Asian stocks hit a four-month high Friday, after global economic numbers lifted market sentiment.

Investors in Japan were encouraged by an upward revision in the country’s second quarter GDP numbers, while exporter stocks rose on a mildly weaker yen. The Japanese currency edged back on U.S. job claims and trade data that raised optimism about the world’s top economy. The Nikkei closed 1.6% up, with a 1.4% gain for the week.

Seoul’s KOSPI rose to a 27-month high, lifted by export-dependent stocks like Samsung Electronics and LG Display. The South Korean benchmark closed with a 1% gain.

Strong sales boosted shares of Taiwanese PC makers and technology firms, with the TAIEX closing 0.7% higher.

Lower metal prices weighed on Australian miners, but the benchmark All Ordinaries was still up 0.5% for the week, adding to last week’s near 4% rise.

Investors were cautious in Hong Kong and Shanghai ahead of consumer price data due Saturday, with the Shanghai composite and Hang Seng trading flat in early afternoon trade.

Markets in Singapore, Malaysia, Indonesia, the Philippines and India were shut for the Muslim Eid holiday.

Foto: NTDTV