Asia stocks rise as market looks beyond Europe; Nikkei up 0.12%
Published May 09, 2012 10:41PM ET
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.08%, Australia's S&P/ASX200 was up 0.40%, while Japan’s Nikkei 225 Index was up 0.12%.
Earnings took center stage across Asia, as investors grew weary of the debt crisis in Europe, a key export market.
While Greece has been unable to assemble a coalition government in wake of last weekend's parliamentary elections and while yields are spiking in Spanish government bond auctions, Toyota and other companies issued healthy earnings numbers.
Toyota, for example, said earlier it expects to triple its operating profit this year to more than USD12.5 billion, according to Reuters.
In Hong Kong, the top gainers included Esprit Holdings, up 7.49%, Hengan International, up 3.54%, and Henderson Land, up 1.82%.
Top Australian gainers included OM Holdings Limited, up 11.36%, Ramelius Resources, up 8.24%, and Perseus Mining, up 8.18%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.42%, while Germany's DAX 30 futures signaled a gain of 0.24%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.19%.
Dow Jones Industrial Average futures were up 0.20% while the S&P 500 futures were up 0.31%.
Later Thursday, provided no surprises emerge out of Europe, the U.S. will guide markets.
The U.S. will unveil official data on the country's trade balance, followed by government reports on initial unemployment claims and import prices.
The country is also to release government data on the federal budget balance and the Treasury currency report, while Federal Reserve Chairman Ben Bernanke is due to speak.
His comments will be closely watched for any clues to the future possible direction of monetary policy.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.