Shares in Asia gain as investors eye scope for better regional outlook
Published Aug 27, 2015 10:04PM ET
Asian shares up on better regional outlook
Investing.com - Asian shares gained on Friday as investors saw signs of regional economic stability in Japan data, though the scope for more market volatility in China remains high.
The Shanghai Composite index rose 1.66%, while the S&P/ASX 200 was up 0.53%. The Hang Seng index gained 0.75% and the Nikkei 225 jumped 2.46%.
In Japan, July national CPI was flat, a better showing than the 0.2% drop seen, while the unemployment rate fell to 3.3% from 3.4%. But household spending eased 0.2%, well below the 1.3% gain expected.
Just after those data sets, Japan reported July preliminary retail sales data showed a gain of 1.6%, better than the 1.1% rise seen.
Investors now looked ahead to the Federal Reserve's annual meeting of top central bankers and economists in Jackson Hole, Wyoming, due to begin later Thursday.
While Fed chair Janet Yellen is not expected to attend, Fed Governor Stanley Fischer is scheduled to participate in a panel discussion about U.S. inflation developments on Saturday.
His comments will be closely watched for further hints regarding the strength of the economy and on the timing of a Fed rate hike.
Overnight, U.S. stocks were higher after the close on Thursday, as gains in the Oil & Gas, Basic Materials and Industrials sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 2.27%, while the S&P 500 index added 2.43%, and the NASDAQ Composite index climbed 2.45%.
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Written By: Investing.com
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