Market Report – Rally in Asia

In today’s Market Report… Asian stocks pushed higher as investors continue to pour funds into the region.

South Korea’s benchmark KOSPI hit a one-year high.  It gained 12 percent in July on the back of the greatest net foreign investor buying ever.

Japan’s Nikkei touched a 10-month peak, fuelled by upbeat corporate earnings reports.

Sony shares jumped more than 6 percent after it posted a smaller-than-expected loss the previous day.  Game rival Nintendo declined on weaker quarterly profit.

Toyota shares rose after a TV station reported that Toyota’s loss for the year would be substantially below the $8.9 billion forecast, thanks to strong sales of hybrid cars.

Number two Japanese bank Mizuho Financial saw an unexpected quarterly loss of $47 million.  It was hit by losses on its stock portfolio and credit default swaps.

(NTDTV)