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Overnight Markets: S&P 500 hits 5-year high on China export data
by Himanshu Singh on Jan 11, 2013 at 05:07
In Asia, shares oscillated between gains and losses on Friday as China’s inflation increased more than forecast that may discourage further monetary policy easing to support an economic recovery. In Japan, stocks rose after the government approved 10.3 trillion yen ($116 billion) of stimulus measures.
The MSCI Asia Pacific Index dropped 0.1% to 132 as of 12:54 p.m. in Tokyo, erasing gains of 0.3%.Japan’s Nikkei 225 Stock Average advanced 1.2%. China’s Shanghai Composite Index dropped 0.5%.
Hong Kong’s Hang Seng Index swung between gains and losses. Australia’s S&P/ASX 200 Index lost 0.2%. South Korea’s Kospi Index dropped 0.8% after the nation’s central bank left its key rate unchanged as expected.
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