15 Aug '11, 9am

Asian stocks up as Tokyo gets growth boost

HONG KONG - Asian stocks put on solid gains on Monday, with Tokyo getting a boost from better-than-expected GDP figures that showed the country is on the road to recovery after its devastating tsunami. Asia followed a positive end to Wall Street's week with green screens all over the region giving dealers hope after a turbulent few days during which they were battered by eurozone debt fears and a US credit downgrade. Tokyo closed 1.37 percent, or 122.69 points, higher at 9,086.41 and Sydney jumped 2.64 percent, or 110.3 points, to 4,282.9. Hong Kong rocketed 3.26 percent, or 640.09 points, to 20,260.10 and Shanghai was 1.30 percent, or 33.60 points, to the better at 2,626.77. Seoul was closed for a public holiday. In New York on Friday the Dow Jones Industrial Average finished up 1.13 percent, at 11,269.02, taking its net loss over a very volatile week to just 1.53 percent...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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