Economy
In reply to the discussion: STOCK MARKET WATCH, Friday, December 23, 2011. [View all]Ghost Dog
(16,881 posts)CANBERA (dpa-AFX) - Most Asian stocks rose in thin holiday trading Friday, as encouraging U.S. employment data and a better-than-expected reading on consumer confidence eclipsed concerns over Europe's unresolved debt crisis.
With the U.S. beginning to show signs of economic recovery and commodities edging higher, the revival in risk appetite helped investors to shrug off the downward revision in third-quarter U.S. GDP growth. The Japanese market was closed for the Emperor's Birthday national holiday.
China's Shanghai Composite rose 0.9 percent, closing just above 2,200 points after a report said China's central bank may continue cutting banks' required reserve ratio to counter growing capital outflows from the country. Also, a quarterly survey published by the People's Bank of China yesterday showed that China's commercial banks anticipate a looser monetary policy in the first three months of next year as economic growth slows and inflationary pressures ease.
Hong Kong's Hang Seng index advanced 1.4 percent in thin holiday trading as signs of a strengthening U.S. job market improved global risk appetite.
Australian shares rose sharply in a holiday-shortened trading, with benchmark S&P/ASX 200 and the broader All Ordinaries rising around 1.2 percent each, as investors cheered the positive U.S. data released overnight. Global miner BHP Billiton ended 1.4 percent higher, Rio Tinto rose 2 percent and smaller rival Fortescue edged up 0.7 percent.
/... http://www.finanznachrichten.de/nachrichten-2011-12/22288726-asian-stocks-higher-as-us-recovery-gains-traction-020.htm