Investing.com – Most Asian stocks traded higher Thursday following a rebound in U.S. equities on Wednesday, though Middle East geopolitical tensions still loom large.
In Asian trading Thursday, Japan’s Nikkei 225 rose 0.44% as USD/JPY traded higher after the Ministry of Economy Trade and Industry said that Japanese retail sales fell 0.3% last month following a 1.6% gain in June. That was still better than the drop of 0.6% for July economists expected.
Hong Kong’s Hang Seng added 0.48% while the Shanghai Composite lost 0.13%. Stocks in Hong Kong were led by energy companies, which advanced on the Syria concerns. Oil prices have soared in recent days on speculation Western nations are planning a military offensive against Syria.
British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria while "authorizing necessary measures to protect civilians" on Wednesday.
The U.N. Security Council was studying draft language, and with a veto possibly to come from Syrian allies Russia and China resulting in a deadlock, U.S. and U.K. policymakers may look beyond diplomatic deadlocks and seek ways to justify military strikes without a U.N. Mandate.
Australia’s S&P/ASX 200 fell 0.4% after the Australian Bureau of Statistics said that Australian private new capital expenditure rose 4% in the second-quarter following a 4.1% first-quarter decline. The first-quarter number was revised up from a drop of 4.7%.
Analysts had expected Australian private new capital expenditure to rise just 1% in the second quarter. New Zealand’s NZSE 50 inched up 0.02%.
Despite the tumult in emerging Asian shares in recent days, South Korea’s Kospi jumped 1.18%. Data showed foreign investors were net buyers of South Korean bonds and stocks this month.
Singapore’s Straits Times Index rose 0.71%. S&P 500 futures fell 0.11% a day after the benchmark U.S. index rose 0.27%.
In Asian trading Thursday, Japan’s Nikkei 225 rose 0.44% as USD/JPY traded higher after the Ministry of Economy Trade and Industry said that Japanese retail sales fell 0.3% last month following a 1.6% gain in June. That was still better than the drop of 0.6% for July economists expected.
Hong Kong’s Hang Seng added 0.48% while the Shanghai Composite lost 0.13%. Stocks in Hong Kong were led by energy companies, which advanced on the Syria concerns. Oil prices have soared in recent days on speculation Western nations are planning a military offensive against Syria.
British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria while "authorizing necessary measures to protect civilians" on Wednesday.
The U.N. Security Council was studying draft language, and with a veto possibly to come from Syrian allies Russia and China resulting in a deadlock, U.S. and U.K. policymakers may look beyond diplomatic deadlocks and seek ways to justify military strikes without a U.N. Mandate.
Australia’s S&P/ASX 200 fell 0.4% after the Australian Bureau of Statistics said that Australian private new capital expenditure rose 4% in the second-quarter following a 4.1% first-quarter decline. The first-quarter number was revised up from a drop of 4.7%.
Analysts had expected Australian private new capital expenditure to rise just 1% in the second quarter. New Zealand’s NZSE 50 inched up 0.02%.
Despite the tumult in emerging Asian shares in recent days, South Korea’s Kospi jumped 1.18%. Data showed foreign investors were net buyers of South Korean bonds and stocks this month.
Singapore’s Straits Times Index rose 0.71%. S&P 500 futures fell 0.11% a day after the benchmark U.S. index rose 0.27%.