Wednesday, 2 May 2012

US Manufacturing helps Asian Stocks to Rise

Strong manufacturing in the two biggest economies, US and China, helped Asian stocks to rise, led by Taiwan and mainland China, while regional bond risk fell.

According to the reports, the manufacturing expanded unexpectedly in the US and Chinese factory index rose in April. The major gains in the Asian Benchmarks was led by the The Shanghai Stock Exchange Composite Index and Taiwan’s Taiex gauge. Trading volumes in China were 41 percent above.

Where, the yen slid against all of its 16 major peers, in Tokyo the MSCI Asia Pacific Index added 0.8 percent as of 2:18 pm, while the Taiex Index hiked 2.3 percent. The Shanghai composite gauge hiked the most in two weeks, 1.8 percent.
While, the won touched the strongest level in a month, the yen weakened 0.3 percent against the dollar. Dow Jones Industrial Average futures was changed a little after the gauge closed at the highest level since 2007 on Tuesday.

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