HONG KONG: Asian markets were broadly higher on Monday as dealers welcomed news that the US econ
omy contracted at a slower than expected pace in the second quarter. Optimism was also carried over after a number of companies revealed earnings for the three months to June showing they seemed to be emerging from the global slump. Hong Kong added 1.14 percent, Sydney 0.46 percent, while Shanghai jumped 1.48 percent on the back of improved manufacturing. Steel and oil firms were also given a lift as commodities prices rose. However, Tokyo was flat as dealers sat back following the recent strong rally. Official data in the US showed Friday a smaller-than-expected 1.0 percent contraction in the world's largest economy in the second quarter, leading to hopes that it is about to emerge from recession.However, the data was tempered by weakness in consumer spending, which limited gains.
For further details visit as : http://timesofindia.indiatimes.com/news/business/international-business/Asian-markets-mostly-up-on-US-economic-data-/articleshow/4852567.cms
omy contracted at a slower than expected pace in the second quarter. Optimism was also carried over after a number of companies revealed earnings for the three months to June showing they seemed to be emerging from the global slump. Hong Kong added 1.14 percent, Sydney 0.46 percent, while Shanghai jumped 1.48 percent on the back of improved manufacturing. Steel and oil firms were also given a lift as commodities prices rose. However, Tokyo was flat as dealers sat back following the recent strong rally. Official data in the US showed Friday a smaller-than-expected 1.0 percent contraction in the world's largest economy in the second quarter, leading to hopes that it is about to emerge from recession.However, the data was tempered by weakness in consumer spending, which limited gains.For further details visit as : http://timesofindia.indiatimes.com/news/business/international-business/Asian-markets-mostly-up-on-US-economic-data-/articleshow/4852567.cms
