Friday, March 25, 2011

Asian shares higher after Wall Street closes up (AP)

BANGKOK ? Most Asian shares rose Friday after Wall Street posted gains on the heels of an improving job market and higher corporate earnings.

Japan's Nikkei 225 was 1 percent up to 9,529.14, with some major car makers gaining lost ground as the country grapples with a deluge of destruction from a massive earthquake on March 11.

Shares of Nissan Motor Co., which lost nearly 5 percent Thursday as it announced it may move some engine production from Japan to the U.S. because of earthquake damage to a Japanese plant, were up 2.2 percent in early Friday trading.

Shares in Toyota Motor Corp., the world's largest automaker, rose 1.4 percent after being pummeled in prior trading sessions.

Elsewhere, the Hong Kong's Hang Seng index rose 0.9 percent to 23,120.13 and South Korea's Kospi moved 0.6 percent higher to 2,048.66.

On Wall Street late Thursday, stronger corporate earnings and signs of a stronger job market lifted stocks. The U.S. government said fewer people applied for unemployment benefits last week, evidence that layoffs are slowing. The average number of unemployment filings over the last four weeks has dropped to its lowest level since July 2008.

The Dow Jones industrial average rose 84.54 points, or 0.7 percent, to close at 12,170.56. The Standard & Poor's 500 index rose 12.12, or 0.9 percent, to 1,309.66. The Nasdaq composite index rose 38.12 points, or 1.4 percent, to 2,736.42.

In Asia early Friday, the dollar was $1.4172, up from $1.4183. The greenback edged up against the yen at 80.99, from 80.95.


Powered By iWebRSS.com

economics precious metals investing in gold investing in silver bullion investing