Thursday, December 18th1.4°C
24295
23979

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

20759


Recent Trending




Today's Market
S&P TSX14286.01+72.62
S&P CDNX665.86+6.83
DJIA17628.02271.15
Nasdaq4722.919+78.608
S&P 5002042.89+30.00
CDN Dollar0.8620+0.0032
Gold1195.40+1.10
Oil55.50-0.97
Lumber337.00+2.80
Natural Gas3.663-0.039

 
Okanagan Companies
Pacific Safety0.13+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.270.00
Cantex0.03-0.005
Anavex Life Sciences0.1701+0.0042
Metalex Ventures0.055+0.005
Russel Metals25.89-1.29
Copper Mountain Mining1.540.00
Colorado Resources0.11+0.005
ReliaBrand Inc0.01990.00
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.215-0.005

 
24130


23615

FEATURED Property
2141170#154 1651 Lynrick Road
3 bedrooms 3 baths
$309,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_



24111

24476


Member of BC Press Council


23860