Asian stock markets mostly higher

12 February, 2018

Asian stock markets mostly higher

Asian stock markets started broadly higher this week, with commodity prices pushing some key names in the region to the upside as the dollar corrected downwards.

The Japanese equity market was closed in observance of a national holiday.

In South Korea, the Kospi rose more than one percent, supported by technology heavyweights such as Samsung Electronics and SK Hynix. Financial components were also up in the day.

Sydney’s S&P/ASX 200 eased a quarter of a percent as downbeat corporate earnings continued to weigh on market sentiment. Hong Kong's Hang Seng Index, the Shanghai composite and the Shenzhen composite were all up, with tech and financial sectors heading north.

Last week, the Dow Jones industrial average corrected sharply higher, recovering more than 300 points on Friday. The 30-stock index closed at 24,190.90, up 330.44 points, or 1.38 percent.

The S&P 500 was also higher at 2,619.55, adding 1.49 percent, while the tech-heavy Nasdaq composite rose 1.44 percent to 6,874.49.

For the week, the the Dow Jones and the S&P 500 eased 5.2 percent, while the Nasdaq posted a 5.1 percent loss as trading remained choppy following a massive sell-off.

Yields of the benchmark 10-year Treasury bonds were up to 2.85 percent on Friday, still close to a 4-year high reached at the beginning of the previous week.

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