Friday, May 22nd22.0°C
26424
25263

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

26180


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1205.70+1.30
Oil57.45-1.98
Lumber273.30+3.70
Natural Gas2.885-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



24910

FEATURED Property
23031776842 Fawn Creek Road
2 bedrooms 2 baths
$425,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_








Member of BC Press Council


25895