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Most Asian shares advance; Nikkei extends streak

Most Asian shares advance; Nikkei extends streak
AP
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First Published: Fri, Feb 18 2011. 08 30 AM IST
Updated: Fri, Feb 18 2011. 08 31 AM IST
Tokyo: Most Asian shares rose in early trading on Friday, with Japan’s Nikkei 225 stock reversing initial losses to extend a four-day winning streak.
The Nikkei rose 0.1% to 10,844.59 after finishing at a fresh 10-month high the previous day.
South Korea’s Kospi jumped 1.3% to 2,003.04, with tech shares among the day’s best performers. Benchmarks in Taiwan, Singapore and New Zealand also advanced.
Meanwhile, Australia’s S&P/ASX 200 fell 0.1% to 4,935.80.
Shares of ANZ Banking Group Ltd., one of Australia’s biggest banks, tumbled 2.8% despite reporting a 27% rise in first quarter profits. Investors reacted negatively to lackluster lending figures.
In New York on Thursday, stocks finished higher after a strong manufacturing report overshadowed a bigger-than-expected rise in the number of people applying for unemployment benefits.
The Dow Jones industrial average rose 29.97 points, or 0.3%, to 12,318.14. The Dow has been rising steadily and is up 3.6% for the month.
The broader Standard & Poor’s 500 index rose 4.11, or 0.3%, to 1,340.43. The Nasdaq composite rose 6, or 0.2%, to 2,831.58.
In currencies, the dollar edged up to ¥83.34 from ¥83.33 late Thursday. The euro stood at $1.3606 from $1.3604.
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First Published: Fri, Feb 18 2011. 08 30 AM IST
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