04 Jan '12, 4am

Asian markets mostly up after US, Europe rally

Asian markets mostly up after US, Europe rally

HONG KONG: Asian shares mostly rose in the region's first full day of trade Wednesday as investors took a strong lead from Wall Street and Europe thanks to upbeat economic data on both sides of the Atlantic. However, confidence remained fragile as Europe's debt woes continued to linger, with the euro under pressure and dollar also struggling against the safe-haven yen. Tokyo's first session of 2012 saw it gain 1.92 per cent, or 161.22 points, to 8,560.11 and Sydney shot up 2.11 per cent, or 86.6 points, to 4,187.8. But Seoul gave up 0.49 per cent, or 9.19 points, to finish at 1,866.22. In the afternoon Hong Kong slipped 0.46 per cent and Shanghai shed 0.44 per cent. Sentiment was given a lift by manufacturing data from the United States and Europe. The US Institute for Supply Management said Tuesday its manufacturing index hit 53.9 per cent in December, an increase of 1.2 ...

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

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