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发表于 2010-1-10 10:26 PM
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Asian Stocks Advance as China Trade Figures Boost Metal Prices
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By Shani Raja and Anna Kitanaka
Jan. 11 (Bloomberg) -- Asian stocks rose, lifting a benchmark index of the region’s equities for the 13th day in 14, after Chinese trade figures boosted metals prices.
BHP Billiton Ltd., the world’s biggest mining company, gained 1.9 percent as copper rose in after-hours trading in New York. Posco, the steelmaker that is due to report earnings on Jan. 14, jumped 3.1 percent in Seoul after Hyundai Securities Co. raised its share-price estimate. Industrial & Commercial Bank of China Ltd. climbed 3.3 percent after the government approved stock index futures.
The MSCI Asia Pacific Index excluding Japan Index added 1.5 percent to 433.82 as of 10:05 a.m. in Hong Kong. Japanese markets are closed today for a holiday. The broader MSCI Asia Pacific Index, which includes Japan, increased 34 percent last year on optimism growth around the region is accelerating.
“The whole recovery story is unfolding very well,” said Nader Naeimi, a Sydney-based strategist at AMP Capital Investors, which oversees about $75 billion. “It shows that recovery in China is on track and the fact that export numbers are very strong shows external demand from the developed world is gaining traction as well.”
Australia’s S&P/ASX 200 Index rose 0.9 percent, while South Korea’s Kospi Index added 0.5 percent. Taiwan’s Taiex Index increased 0.8 percent.
China’s Shanghai Composite Index rose 1.5 percent, the most in two weeks, led by brokerages and banks. The China Securities Regulatory Commission on Jan. 8 cleared an overhaul of trading laws that will permit short sales and stock-index futures, fanning speculation trading volumes will increase.
Futures on the Standard & Poor’s 500 Index gained 0.4 percent. The gauge rose 0.3 percent to a 15-month high on Jan. 8 as speculation the Federal Reserve will leave interest rates near zero overshadowed an unexpected decrease in jobs. |
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