Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Shares in Asia gain on prospects of easier global monetary policies

Published 07/13/2016, 11:22 PM
Updated 07/13/2016, 11:24 PM
© Reuters.  Asian shares gain

Investing.com - Asian shares gained on Thursday as investors turned showed cautious optimism on prospects for easier global monetary policies to lift growth.

The Nikkei 225 gained 0.76% on continued upbeat sentiment over the prospects of economic stimulus. The S&P/ASX 200 rose 0.33% and the Shanghai Composite posted a rise of 0.49%.

Jobs data in Australia showed the employment change for June gain by 7,900, less than the 10,000 gain seen, though full employment clocked in at 38,400 from 2,500 previously, with a participation rate of 64.9%, a tad more than the 64.8% expected and an unemployment rate that came in at 5.8%, up from 5.7%.

The the rise in full-time jobs, the most since November last year, was a positive. The Reserve Bank of Australia has recently said labor market indicators have been "more mixed of late," a likely reference to the job creation. The latest data may comfort the RBA but its next monetary policy decision is likely to depend more on the inflation and growth outlook for the economy.

Ahead the Bank of England reviews policy with expectations of easing and this week Japan signaled more fiscal stimulus and potential new monetary moves.

Overnight, U.S. stocks were relatively flat on Wednesday, as the Dow Jones Industrial Average and S&P 500 Composite index both pared gains after hitting fresh all-time highs, amid crashing oil prices and a weaker dollar.

The Dow added 24.45 or 0.13% to 18,372.12, posting its fourth straight gain and closing at a record-high for the second straight session. At session-highs, the Dow gained more than 40 points to reach an all-time high of 18,390.16. Since plunging 850 points in the immediate aftermath of last month's Brexit decision, the Dow has rallied approximately 1,200 points or more than 7% over the last three weeks.

The S&P 500 Composite index inched up 0.29 or 0.01% to close at 2,152.43, turning positive in the final minutes of the session. At one point, the S&P 500 rose as high as 2,156.45, hitting an all-time record high for the third straight day. For context, analysts set their year-end target for the S&P 500 at 2,150 at the start of 2016. Despite the mild declines, the S&P 500 is in the midst of its strongest 10-day rally since 2011. Entering Wednesday's session, the S&P also experienced its highest upside volume period for a 10-day period dating back to 2009. Stocks in six of 10 sectors closed in the green, as the Telecom and Utilities sectors led. Stocks in the Energy and Consumer Services industries lagged, each falling more than 0.25%.

Meanwhile, the NASDAQ Composite index closed at 5,005.73, down 17.09 or 0.34% on the day. Previously, the NASDAQ closed higher in nine of 10 sessions bouncing from three-month lows in late-June.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.