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Overnight Markets: US stocks end higher in late-day rally
by Himanshu Singh on Mar 05, 2013 at 03:25
In deal news, Ferro Corp jumped 30.8% after A. Schulman Inc offered to buy the company for $563 million, although Ferro rejected the bid.
In Asia, shares climbed on Tuesday in late morning trade amid speculation central bankers will continue stimulus measures and as China maintained its economic-growth target for 2013.
The MSCI Asia Pacific Index climbed 0.7% to 135 as of 10:58 a.m. in Tokyo. Japan’s Nikkei 225 Stock Average advanced 1%, poised for the highest close since September 2008. South Korea’s Kospi Index increased 0.7%. Hong Kong’s Hang Seng Index both added 0.4%.
The Shanghai Composite Index rose 0.3% as China maintained its economic-growth target at 7.5% for 2013. Australia’s S&P/ASX 200 Index climbed 1.6%.
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