Wednesday 8 January 2014

Stock markets in Asia rally

Stock markets in Asia logged strong gains on Wednesday as the stronger dollarspurred interest and bargain hunters moved in.

The dollar was last seen trading at ¥104.86 from ¥104.61 on Tuesday.

The benchmark Nikkei 225 index closed 307 points or nearly 2% higher at 16,121, while the wider Topix closed up 22 points or 1.79% at 1,306. The Hang Seng advanced 283 points at 22,996 in Hong Kong. 

Data that showed the US trade deficit narrowed to its lowest level in four years in November also boosted investor confidence.

Among the biggest stock movers, shares of games giant Nintendo charged over 10% higher after news that China has formally authorised game consoles to be sold in the country.

Shares of Mitsubishi Motors tumbled 3.7% after it confirmed it would raise up to $2.3bn via a share placing. 

Elsewhere Suzuki Motor rallied 3.0% while TDK rose 2.4% as the dollar advanced against the yen.

SourCe:  LiveCharts

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