Investing.com - Most Asian stocks rose Wednesday, a day after U.S. equities put a sizable dent into the massive losses incurred during Monday’s session.
In Asian trading Wednesday, Japan’s Nikkei 225 jumped 1.01% after the International Monetary Fund raised its GDP growth outlook for the world’s third-largest economy to 1.6% from 1.2% for this year and to 1.4% from 0.7% for 2014. Amid a plunging yen, Japanese stocks have been the best performers in Asia this year.
Hong Kong’s Hang Seng rose 0.24% but the Shanghai Composite inched lower by 0.08%. Asian stocks were lifted by some decent data points out of the U.S. Tuesday.
In economic news, the U.S. Labor Department said the consumer price index fell 0.2% last month after a 0.7% increase in February. Excluding volatile food and energy prices, the CPI rose 0.1% last month.
The U.S. Census Bureau said housing starts increased 7% last month from February to a 1.036 million seasonally adjusted annual rate. That is the first time in nearly five years monthly housing starts have eclipsed 1 million. In March, building permits fell 3.9% from February, to a 902,000 annual rate. The U.S. is the world’s largest oil consumer.
In addition, the Federal Reserve reported that U.S. industrial production rose 0.4% in March, beating expectations for a 0.2% gain after a 1.1% increase the previous month, which supported oil a bit.
Australia’s S&P/ASX 200 advanced 1% lead by gains in the country’s major banks and defensive sectors such as staples. BHP Billiton, the world’s largest mining company, also rebounded ending a two-day skid.
New Zealand’s NZSE 50 added 0.95% after Statistics New Zealand said that consumer price inflation there rose to a seasonally adjusted 0.4% in the first quarter from -0.2% in the fourth quarter. Analysts expected New Zealand’s CPI to rise 0.4% in the fourth quarter.
South Korea’s Kospi fell 0.32% a day after the country unveiled a USD17.2 billion stimulus program aimed at bolstering the economy there.
Singapore’s Straits Times Index rose 0.32% while S&P 500 futures fell 0.26%.
In Asian trading Wednesday, Japan’s Nikkei 225 jumped 1.01% after the International Monetary Fund raised its GDP growth outlook for the world’s third-largest economy to 1.6% from 1.2% for this year and to 1.4% from 0.7% for 2014. Amid a plunging yen, Japanese stocks have been the best performers in Asia this year.
Hong Kong’s Hang Seng rose 0.24% but the Shanghai Composite inched lower by 0.08%. Asian stocks were lifted by some decent data points out of the U.S. Tuesday.
In economic news, the U.S. Labor Department said the consumer price index fell 0.2% last month after a 0.7% increase in February. Excluding volatile food and energy prices, the CPI rose 0.1% last month.
The U.S. Census Bureau said housing starts increased 7% last month from February to a 1.036 million seasonally adjusted annual rate. That is the first time in nearly five years monthly housing starts have eclipsed 1 million. In March, building permits fell 3.9% from February, to a 902,000 annual rate. The U.S. is the world’s largest oil consumer.
In addition, the Federal Reserve reported that U.S. industrial production rose 0.4% in March, beating expectations for a 0.2% gain after a 1.1% increase the previous month, which supported oil a bit.
Australia’s S&P/ASX 200 advanced 1% lead by gains in the country’s major banks and defensive sectors such as staples. BHP Billiton, the world’s largest mining company, also rebounded ending a two-day skid.
New Zealand’s NZSE 50 added 0.95% after Statistics New Zealand said that consumer price inflation there rose to a seasonally adjusted 0.4% in the first quarter from -0.2% in the fourth quarter. Analysts expected New Zealand’s CPI to rise 0.4% in the fourth quarter.
South Korea’s Kospi fell 0.32% a day after the country unveiled a USD17.2 billion stimulus program aimed at bolstering the economy there.
Singapore’s Straits Times Index rose 0.32% while S&P 500 futures fell 0.26%.