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Asian Shares Gain Off US Lead With China Starting Lunar New Year Break

Stock MarketsFeb 14, 2018 11:14PM ET
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© Reuters. Asian shares gain

Investing.com - Asian shares rose on Thursday in holiday-thinned trade as they took a lead from the US overnight and shrugged off higher-than-expected consumer prices in the United States.

The S&P/ASX 200 rose 1.14% as miner gained with Rio Tinto (LON:RIO) up 2.93% and BHP up 3.48%. Australia also reported jobs data with the employment change up by 16,000 workers, compared to a gain of 15,300 seen for a steady unemployment rate of 5.5% and a participation rate of 65.6% as expected.

The Nikkei 225 rose 1.63%. Japan reported core machinery orders for December with a slump of 11.9% on month, compared to a 1.9% decline seen and a fall of 5.0% on year, compared to a gain of 2.2% expected. The data will be followed later by industrial production seen up 2.7% on month.

China starts the Lunar New Year holidays on Thursday which run through Feb. 21, with other markets in Asia on shorter holidays including Hong Kong for Thursday and Friday and Singapore for Friday and Monday.

Overnight, U.S. stocks were higher after the close on Wednesday, as gains in the Technology, Financials and Basic Materials sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average gained 1.03%, while the S&P 500 index gained 1.34%, and the NASDAQ Composite index added 1.86%.

Asian Shares Gain Off US Lead With China Starting Lunar New Year Break
 

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