Friday, October 31st7.9°C
23888
22501

Japanese stocks rise as business sentiment improves; China markets closed for holiday

BANGKOK - Japanese stocks surged Tuesday after a business survey showed mounting confidence among the country's powerhouse manufacturers.

The Nikkei 225 in Tokyo rose 1.2 per cent to 14,627.66 after the latest quarterly "tankan" survey showed a sharp improvement from the prior period. Large manufacturers were especially upbeat, with a reading of positive 12, up from 4 in the July survey.

Markets in mainland China and Hong Kong are closed for public holidays and couldn't react to a survey showing that manufacturing in the world's No. 2 economy barely expanded in September.

Tuesday's report by the China Federation of Logistics and Purchasing showed manufacturing expanded for the third month in a row. But the group's purchasing managers' index rose by only a fraction to 51.1 last month from 51.0 in August, less than economists expected.

The federation's report comes a day after a private survey by HSBC also indicated weaker than expected growth in China's massive manufacturing sector.

Elsewhere, South Korea's Kospi rose 0.4 per cent to 2,004.77. Australia's S&P/ASX 200 gained 0.1 per cent to 5,223.10. Benchmarks in Singapore, Taiwan and Indonesia also rose. New Zealand and Malaysia fell.

On Wall Street, stocks fell Monday amid worries that a budget fight in Washington could lead to a failure to raise the nation's borrowing limit. The so-called debt ceiling has to be raised or the government won't be able to pay all of its bills, causing at least a partial shutdown.

But there was no agreement in Congress late Monday, with just hours to go before hitting a shutdown deadline.

The Dow Jones industrial average fell 0.8 per cent to close at 15,129.67. The Standard & Poor's 500 fell 0.6 per cent to 1,681.55. The Nasdaq composite fell nearly 0.3 per cent, to 3,771.48.

Benchmark oil for November delivery was down 36 cents to $101.97 per barrel in electronic trading on the New York Mercantile Exchange. The contract grade fell 54 cents to close at $102.33 a barrel on the Nymex on Monday.

In currencies, the euro rose to $1.3528 from $1.3522 late Monday. The dollar rose to 98.49 yen from 98.28 yen.

___

Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson

The Canadian Press


Read more Business News

23015


Recent Trending




Today's Market
S&P TSX14458.69-68.88
S&P CDNX771.65-9.42
DJIA17195.42221.11
Nasdaq4566.138+16.912
S&P 5001994.65+12.35
CDN Dollar0.8920-0.0014
Gold1174.70-23.90
Oil80.30-0.60
Lumber322.40-1.20
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.11+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.045-0.015
Anavex Life Sciences0.1711-0.0089
Metalex Ventures0.0350.00
Russel Metals32.22-0.35
Copper Mountain Mining1.97-0.05
Colorado Resources0.14+0.005
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.375+0.005

 





FEATURED Property
2086422282 Moyer Road
10083935 bedrooms
$599,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22707