Asian shares advanced, with the regional benchmark index reaching the highest level since August 2011, as U.S. stocks jumped to a record high as activity the U.S. service industry grew at the fastest pace in a year. The MSCI Asia Pacific Index added 1.1% to 135.85 at 12:11 p.m. in Tokyo. The Nikkei 225 Stock Average surged 1.3%, Hong Kong's
India's Rupee advanced the most in more than a week amid the U.S. service industry improvement, which spurred stocks to a record high, will increase inflows to emerging markets. The Rupee rose 0.5% to 54.6700 per U.S. Dollar at 10:10 a.m. in Mumbai, the biggest advance since February 25. One-month implied volatility declined 10 basis points to 9.62%.
The Korean Won rose for a second straight day as an advance in U.S. equity markets urged global funds to purchase South Korean stocks. The Won rose 0.2% to 1,084.40 per U.S. Dollar at 10:08 a.m. in Seoul, with one-month implied volatility falling 11 basis points to 6.73%. Overseas funds increased their holdings of the nation's equities and bonds to
The Aussie Dollar advanced versus most of the major counterparts as data showed Australia's economy expanded in the Q4, driven by exports and household consumption. The Dollar gained as much as 0.3% to $1.0285 at 4:52 p.m. in Sydney after rising 0.6% yesterday, the most since February 22. The Australian Dollar climbed 0.2% to 95.87 yen after earlier reaching 95.92,
Before the December's GDP growth data were released by the Australian Bureau of Statistics, the Reserve Bank of Australia made the decision to keep the cash rate at 3%, matching the market expectation, after a cut by 1.25% in 2012. Gross domestic product of the country is expected to rise 0.7% in the Q4 with annually acceleration of 3.1%, the
Service sector of Spain recorded further slow-down in the month of February as new businesses and business activity fell at the faster rates than expected and as new orders dropped more than in the prior month, the Markit Economics reported on Tuesday. The Business Activity Index decreased for the first time in a five-month period in February, when it fell
According to latest ABS Retail Trade figures, seasonally adjusted, Australian retail sale turnover gained 0.9% in January 2013, following a fall of 0.4% in December 2012 and 0.2% in November 2012. The largest input was done by other retailing (2.6%), household goods retailing (1.3%), food retailing (0.3%), cafes, restaurants and takeaway food services (1%), clothing, footwear and personal accessory retailing
The British currency strengthened for a second straight day versus its two major counterparts, the U.S. Dollar and the Euro, after a report showed bigger expansion of the U.K. services than economists expected. Sterling added 0.2% to $1.5151 on Tuesday following an 0.5% advance the day before, after it touched the lowest level in more than 2 years on March
German shares edged higher on speculation that central banks in Europe and the U.S. will extend monetary stimulus. In addition China pledged to raise its budget deficit to spur demand. The DAX Index climbed 1.9% to 7,838.12 by 15:50 in Frankfurt. Deutsche Post AG was the top leader, by gaining the most in seven months after its fourth-quarter profit topped
Shares on Wall Street accelerated on Tuesday as China's government announced its decision to keep its economic growth target at the same level for 2013 and amid optimism the Federal Reserve will maintain its monetary policy in order to support the growth. The S&P 500 futures gained 0.4% to 1,531.2 and the Dow Jones Industrial Average futures added 0.3% to
U.K. equities edged higher, with the FTSE 100 Index heading to its highest level in more than four years, after data showed that U.K. services industries unexpectedly expanded in February and companies reported higher-than-expected corporate profits. The FTSE 100 Index rose 1% to 6,406.39 by 15:31 in London. All but one sector climbed at least 0.4%. John Wood Group jumped
Consumer price index of the Organization for Economic Cooperation and Development area fell notably in January hitting its lowest level since November 2010, a data showed on Tuesday. OECD's inflation decelerated from December's level of 1.9% to 1.7% in January, when the biggest impact had a slower growth of energy price with the rise of 1.8% in January compared to
Service sector activity in the Eurozone slowed down less than previously estimated in February as the inflow of new orders was not as steep as forecast, while new businesses in services declined at the sharper rate than economists expected, the Markit Economics reported on Tuesday. The services activity index of the 17-nation bloc dropped from 48.6 in January to a
Service sector in the U.K. accelerated at the fastest pace in a five-month period in February supported with a notable increase of new businesses, the Markit Economics reported on Tuesday, bringing a sign of the country's economic revival. The Chartered Institute of Purchasing & Supply (CIPS) Purchasing Managers' Index for the service sector advanced from January's 51.5 points to 51.8
Hong Kong equities edged higher on Tuesday amid growing optimism that the Fed will extend easing measures. In addition, Chinese economic growth target for 2013 was maintained at 7.5%. The Hang Seng index rose 0.1% to 22,560.50 points. From all five groups that rallied, consumer goods and utilities sectors posted biggest gains in the benchmark gauge, by adding 1.6% and
The European currency advanced against its major counterpart the U.S. dollar for a second straight day on Tuesday after a report by the Markit Economics showed that manufacturing output in the euro-area declined less than economists initially forecast. The Euro added 0.4% to $1.3072 and it changed to 121.72 yen following a 0.5% drop earlier on Tuesday.
Industrial production in Estonia accelerated in the month of January due to increase of manufacturing and electronic products output, the Statistic Estonia reported on Tuesday. Year-on-year, Estonia's industrial output added 5.5%, when manufacturing output grew 4.2% and energy production was up 17.2%, however mining output recorded loss of 3.4%.
Most blue chips in the Nikkei 225 benchmark gauge edged higher amid speculation Japanese central banks will introduce more monetary easing to bolster the economic growth. However, firms depending on exports shrank, as the Yen climbed against its major counterparts. Taiyo Yuden Co., a ceramic-capacitor maker, jumped 9.2% to pace gains in industrial shares, as its stock rating was upgraded
Wall Street was green on Monday, with the Dow Jones Industrial Average reaching its highest since 2007, as Federal Reserve will continue boosting the economy with its stimulus measures offsetting concerns about the Chinese economy. The Dow Jones Industrial Average rallied 0.3% to 14,127.82, its highest in five years. All but one group in the gauge inched higher. Wal-Mart
China maintained its economic-growth target for 2013 unchanged at 7.5%, reflecting the nation's intention to keep more moderate growth rather than higher growth rates seen in the last decade as a part of the government aim to restructure economy and restore the growth model. Additionally, the government cut its inflation target from 4% last year to 3.5%.
Asian shares rose, with the regional benchmark index reversing two-day losses, on speculation central bankers will take measures and as China kept the economic-growth target for this year. The MSCI Asia Pacific Index jumped 0.6% to 134.66 at 12:50 p.m. in Tokyo. The Shanghai Composite Index rose 1.1% and Japan's Nikkei 225 Stock Average gained 0.6%, while South Korea's Index
U.S. shares climbed on Monday, as the Federal Reserve pledged to extend its stimulus measures to bolster the largest economy's growth offsetting concerns over spending cuts. The Standard's & Poor 500 advanced 0.5% to 1,525.20 after retreating 0.4% earlier. All but two sectors edged higher. Genworth Financial Inc. rallied 6.7% to $9.09, posting biggest gains in the gauge, and
Rural commodities were mixed on Monday, with softs moving higher and grains retreating. Softs found support on fears over spreading coffee leaf rust in Central America and talks that Brazilian farmers will direct more cane to produce ethanol instead of sugar. Wheat declined after the USDA reported that 24% of Kansas wheat crop was rated as good-excellent, compared to 23%
The Philippine Peso rose as stocks jumped toward the highest level touched last week, while the nation's central bank said it might take steps to cap inflows. The Peso gained as much as 0.1% to 40.725 per U.S. Dollar at 10.52 a.m. in Manila, with implied volatility holding at 3.9%. According to the exchange data, foreign investors bought $812 million