Business and Economy

Japan leads Asian shares higher, buoyed by Wall St record

Published

6 years ago

January 4, 2018

North Korea said Tuesday leader Kim Jong Un was briefed on his military's plans to launch missiles into waters near Guam. But the comments also appeared to signal a path to defuse the deepening crisis with Washington, holding out the possibility that friction could ease if the U.S. (Photo by energepic.com,pixels, CC0)

Shares fell in South Korea despite signs tensions with its rival in North Korea may be easing (Pexels photo)

TOKYO — Asian shares were mostly higher on Thursday, led by Japan, on optimism over the coming year that pushed Wall Street to new record highs. Shares fell in South Korea despite signs tensions with its rival in North Korea may be easing.

KEEPING SCORE: Japan’s benchmark Nikkei 225 advanced 2.5 per cent to 23,337.47 during the celebratory first trading session of the year, when female employees of the Tokyo exchange appear in colorful kimono. Australia’s S&P/ASX 200 edged up 0.1 per cent to 6,077.70. South Korea’s Kospi lost 0.6 per cent to 2,470.71. Hong Kong’s Hang Seng added 0.5 per cent to 30,698.54, while the Shanghai Composite gained 0.4 per cent to 3,382.91. Shares in Southeast Asia were mostly higher.

WALL STREET: Big gains for technology and health care companies helped U.S. stocks set records again. The Standard & Poor’s 500 index rose 0.6 per cent to 2,713.06. The Dow Jones industrial average added 0.4 per cent to 24,922.68 and the Nasdaq composite surged 0.8 per cent to 7,065.53. The Russell 2000 index of smaller-company stocks gained 0.2 per cent to 1,552.58. All four finished at record highs.

NORTH KOREA: Shares fell in South Korea on selling of automaker stocks despite surprise overtures from Pyongyang suggesting North Korean leader Kim Jong Un may seek better ties with the south. Seoul quickly offered to meet and talk, and the two sides made preliminary contact on a newly reopened cross-border communication channel. It was unclear if those moves will vanquish the shadow cast over the region by North Korea’s missile launches and its strongest-ever nuclear bomb test.

ENERGY: Benchmark U.S. crude rose 26 cents to $61.89 a barrel in electronic trading on the New York Mercantile Exchange. It added $1.26, or 2.1 per cent, to $61.63 a barrel on Wednesday. Brent crude, used to price international oils, picked up 12 cents to $67.96 a barrel in London.

CURRENCIES: The dollar rose to 112.66 yen from 112.36 yen. The euro was flat at $1.2014.