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Asian shares open up on positive US data | Asian shares open up on positive US data |
(about 1 hour later) | |
Asian shares opened higher on Friday after better-than expected economic data out of the US. | Asian shares opened higher on Friday after better-than expected economic data out of the US. |
US industrial production in September rose 1% and weekly jobless claims dropped to a 14-year low, easing fears of slowing growth. | US industrial production in September rose 1% and weekly jobless claims dropped to a 14-year low, easing fears of slowing growth. |
Federal Reserve members also suggested that the central bank could extend its bond buying program to provide a boost. | Federal Reserve members also suggested that the central bank could extend its bond buying program to provide a boost. |
Japanese shares were up despite business confidence in October falling to its lowest in a year and half. | Japanese shares were up despite business confidence in October falling to its lowest in a year and half. |
The Nikkei 225 was up 0.1% at 14,758.14. | |
The Reuters Tankan survey added to further evidence that policymakers in Japan may have to introduce more stimulus measures to boost the economy from a sales tax hike. | |
Greater China shares | |
Hong Kong shares made modest gains as upbeat US data was offset by ongoing worries about the global economy. | |
The benchmark Hang Seng Index was 0.8% higher at 23,084.45 points. | |
In China, the Shanghai Composite was trading flat as investors awaited third-quarter economic growth figures from China due next week. | |
In Australia, shares on the benchmark S&P/ASX 200 were up 0.8%. | |
Shares of the world's biggest mining company BHP Billiton were up 0.5% after it announced that it would list a planned spin-off company in London next year, along with Australia and South Africa. The move was to appease investors as it tries to focus on its most profitable operations. | Shares of the world's biggest mining company BHP Billiton were up 0.5% after it announced that it would list a planned spin-off company in London next year, along with Australia and South Africa. The move was to appease investors as it tries to focus on its most profitable operations. |
In South Korea, shares were bucking the uptrend after they ended at an eight-month low on Thursday. | |
The benchmark Kospi was lower 0.1% at 1,917.00 points. |