Home Business Asian Shares Open Up On Positive US Data

Asian Shares Open Up On Positive US Data

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October 17:Asian shares opened higher on Friday after better-than expected economic data out of the US

US industrial production in September rose 1% and weekly jobless claims dropped to a 14-year low, easing fears of slowing growth.

Federal Reserve members also suggested that the central bank could extend its bond buying program to provide a boost.

Japanese shares were up despite business confidence in October falling to its lowest in a year and half.

The Nikkei 225 was up 0.2% at 14,768 points.

The Reuters Tankan survey added to further evidence that policymakers may have to introduce more stimulus measures to boost the economy from a sales tax hike.

In Australia, shares on the benchmark S&P/ASX 200 were up 1%.

Shares of the world’s biggest mining company BHP Billiton were up 0.5% after it announced that it would list a planned spin-off company in London next year, along with Australia and South Africa. The move was to appease investors as it tries to focus on its most profitable operations.

In South Korea, shares were flat after the benchmark Kospi ended at an eight-month low on Thursday.

Source: BBC

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