Market news
13.05.2014, 09:35

Asian Stocks close: most stocks rose, following U.S. equity indexes

The most Asian stock indices increased, following U.S. equity indexes. The Dow Jones and S&P 500 closed at all-time highs, supported by expectation that U.S. economy is improving.

The weaker-than-expected economic data in China had a negative impact on stock markets. Retail sales in China increased 11.9% in April, from a 12.2% rise in March. Analysts had expected an increase of 12.2%. China’s industrial production rose 8.7% in April, from an 8.8% rise in March. Analysts had forecasted an increase of 8.9%. Fixed asset investment in China climbed 17.3% in April, from a 17.6% gain in March. Analysts had expected a 17.8% rise.

The Japanese index Nikkei 225 profited from the weak yen due to decreasing demand for the safe-haven currency.

Indexes on the close:

Nikkei 225                     14,425.44           +275.92        +1.95%

Hang Seng                     22,352.38             +90.77       +0.41%

Shanghai Composite      2,050.73                -2.14       -0.10%

Nissan Motor Co. shares climbed 5.1%, beating estimates of its full-year profit.

Sharp increased 5.0% after the company forecast that the profit would nearly triple in the current fiscal year.

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