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Overnight Markets: S&P 500 back to record on bank earnings

by Himanshu Singh on Jan 16, 2014 at 03:51

On the downside, Regeneron Pharmaceuticals Inc. declined 4.3% amid an analyst downgrade.

In Asia, shares gained on Thursday in late morning trade as better-than-projected bank earnings boosted investor confidence and drove US stock gauges to record highs.

The MSCI Asia Pacific Index rose 0.2% to 140 as of 11:24 a.m. in Tokyo. Japan’s Topix (TPX) index rose 0.8%. South Korea’s Kospi index advanced 0.3%. Australia’s S&P/ASX 200 Index added 0.9%. New Zealand’s NZX 50 Index was little changed.

Hong Kong’s Hang Seng Index gained 0.4% and China’s Shanghai Composite Index gained 0.1%.

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