Publications
Partners
Hong Kong - Asian shares were mixed on Thursday after the Dow on Wall Street ticked up another record high in response to strong earnings and a positive outlook on the US economy by the Federal Reserve.
An early rally in response to the US gains fizzled towards the end of the day as profit-takers moved in.
Tokyo ended flat, edging down 9.04 points to finish at 15 370.26 as the yen strengthened against the dollar; while Sydney was marginally higher, adding 3.54 to 5 522.4 points and Seoul gained 7.42 to 2 020.90 points.
Shanghai lost 11.69 to 2 055.59 points while Hong Kong was a touch lower, dipping 2.41 to 23 520.87 points.
The mood remained largely buoyant after China said on Wednesday that the world's number two economy and key driver of global growth expanded more than expected in the second quarter of the year.
US shares resumed their uptrend on Wednesday as traders welcomed a report from the Fed that said all 12 economic regions of the country continued to expand in the six weeks to July 7.
Pointing to generally higher consumer spending, with strong auto sales outperforming other retail segments, the bank's Beige Book report is the latest to indicate the world's top economy is getting back on track.
It also comes weeks after the Labour Department said far more jobs were created in June than forecast while unemployment slipped.
On Wall Street the Dow jumped 0.45% to a new record, while the S&P 500 gained 0.42% and the Nasdaq added 0.22%.
The US market was also cheering better-than-expected earnings from chip giant Intel and a "landmark" IBM partnership with Apple.
On currency markets the dollar dipped to ¥101.49 in Asian trade from ¥101.69 in New York on Wednesday.
The greenback had enjoyed a rally on Wednesday after Fed chief Janet Yellen told lawmakers on Capitol Hill that interest rates could rise "sooner and be more rapid than currently envisioned" if the jobs market strengthens further.
The euro bought $1.3530 and ¥137.34 in Tokyo, against $1.3524 and ¥137.55 in US trade.
Oil prices extended gains after a bullish US supply report indicated robust demand in the world's top crude consumer.
US benchmark West Texas Intermediate for August delivery rose 83 cents to $102.03 while Brent crude for September gained 39 cents to $107.56 in late trade.
Gold was at $1 304.20 by 10:10 compared with $1 298.75 late on Wednesday.
In other markets:
- Taipei fell 76.49 to 9 408.24 points. Hon Hai shed 0.93% to Tw$106.5 while smartphone maker HTC was 0.73% lower at Tw$136.0.
- Wellington was almost unchanged, dipping 1.86 points to 5 112.39. Contact Energy eased 0.19% to NZ$5.34 and Freightways lost 0.59% to end at NZ$5.02.
- Manila closed 0.49% higher, adding 33.32 to 6 867.36 points. Philippine Long Distance Telephone rose 0.80% at 3 030 pesos and Ayala Land added 0.16% to 30.85 pesos.
An early rally in response to the US gains fizzled towards the end of the day as profit-takers moved in.
Tokyo ended flat, edging down 9.04 points to finish at 15 370.26 as the yen strengthened against the dollar; while Sydney was marginally higher, adding 3.54 to 5 522.4 points and Seoul gained 7.42 to 2 020.90 points.
Shanghai lost 11.69 to 2 055.59 points while Hong Kong was a touch lower, dipping 2.41 to 23 520.87 points.
The mood remained largely buoyant after China said on Wednesday that the world's number two economy and key driver of global growth expanded more than expected in the second quarter of the year.
US shares resumed their uptrend on Wednesday as traders welcomed a report from the Fed that said all 12 economic regions of the country continued to expand in the six weeks to July 7.
Pointing to generally higher consumer spending, with strong auto sales outperforming other retail segments, the bank's Beige Book report is the latest to indicate the world's top economy is getting back on track.
It also comes weeks after the Labour Department said far more jobs were created in June than forecast while unemployment slipped.
On Wall Street the Dow jumped 0.45% to a new record, while the S&P 500 gained 0.42% and the Nasdaq added 0.22%.
The US market was also cheering better-than-expected earnings from chip giant Intel and a "landmark" IBM partnership with Apple.
On currency markets the dollar dipped to ¥101.49 in Asian trade from ¥101.69 in New York on Wednesday.
The greenback had enjoyed a rally on Wednesday after Fed chief Janet Yellen told lawmakers on Capitol Hill that interest rates could rise "sooner and be more rapid than currently envisioned" if the jobs market strengthens further.
The euro bought $1.3530 and ¥137.34 in Tokyo, against $1.3524 and ¥137.55 in US trade.
Oil prices extended gains after a bullish US supply report indicated robust demand in the world's top crude consumer.
US benchmark West Texas Intermediate for August delivery rose 83 cents to $102.03 while Brent crude for September gained 39 cents to $107.56 in late trade.
Gold was at $1 304.20 by 10:10 compared with $1 298.75 late on Wednesday.
In other markets:
- Taipei fell 76.49 to 9 408.24 points. Hon Hai shed 0.93% to Tw$106.5 while smartphone maker HTC was 0.73% lower at Tw$136.0.
- Wellington was almost unchanged, dipping 1.86 points to 5 112.39. Contact Energy eased 0.19% to NZ$5.34 and Freightways lost 0.59% to end at NZ$5.02.
- Manila closed 0.49% higher, adding 33.32 to 6 867.36 points. Philippine Long Distance Telephone rose 0.80% at 3 030 pesos and Ayala Land added 0.16% to 30.85 pesos.
