View the article online at http://citywire.co.uk/money/article/a646067
Asian markets oscillate after Japan vote
Japanese shares surged after the Liberal Democratic Party, which backs more economic stimulus, reclaimed power in a landslide victory.
Asian markets oscillated between gains and losses on Monday in morning trade as Japanese shares surged after the Liberal Democratic Party, which backs more economic stimulus, reclaimed power in a landslide victory.
The MSCI Asia Pacific Index added 0.1% to 128 as of 11:31 a.m. in Tokyo after rising and falling as much as 0.3%. Japan’s Nikkei 225 Stock Average rose 1.6 percent, heading for the highest close since April.
Australia’s S&P/ASX 200 slid 0.2% and New Zealand’s NZX 50 Index fell 0.2%. South Korea’s Kospi Index dropped 0.1%. Hong Kong’s Hang Seng Index fell less than 0.1%. The Shanghai Composite Index rose 0.7%. Singapore’s Straits Times Index was little changed.
Taiwan’s Taiex Index dropped 0.8% as Apple suppliers Hon Hai Precision Industry Co. and Largan Precision Co. each fell more than 4.5%.
In the U.S., Republican House Speaker John Boehner and President Barack Obama remained deadlocked during their third White House meeting on next year’s budget.
Nissan Motor Co. surged 2.2% as the yen weakened to the lowest since April 2011 against the dollar.
Fairfax Media Ltd., Australia’s second-biggest newspaper company, added 3.9% after selling its remaining 51% stake in Trade Me Ltd., a New Zealand online auction site.Asahi Glass Co. fell 2.5% in Tokyo after the Nikkei newspaper said the glass manufacturer is likely to miss its profit forecast.
News sponsored by:
After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
More about this:
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.