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Share Name | Share Symbol | Market | Type |
---|---|---|---|
ASX Limited | ASX:ASX | Australian Stock Exchange | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.70 | -1.10% | 62.98 | 62.80 | 63.43 | 63.43 | 62.80 | 63.11 | 310,954 | 09:50:00 |
Stocks across Asia rallied Thursday despite worries about U.S. economic growth, while China shares took a breather having gained 24% since early February.
Markets were higher across the region even though U.S. stocks fell Wednesday.
"At some point this year shares are likely to see a decent correction, with the anticipation of the Fed's first interest rate hike likely to provide the trigger," said Shane Oliver, head of investment strategy at AMP Capital. "However, the trend in shares is likely to remain up," he said, citing economic growth and further easing in Europe, Japan, China and Australia, and only gradual tightening in the U.S., as reasons.
Weak economic data in the U.S. on Wednesday added to concerns about growth there, but encouraged investors hoping for a later U.S. rate increase. Mr. Oliver said that eurozone, Japanese and North Asian shares are likely to outperform.
The Shanghai Composite Index was flat after a whirlwind rally this year. Margin trading--the use of borrowed money for trading--surpassed 1 trillion yuan for the first time yesterday, according to the Shanghai Stock Exchange.
Australia's S&P ASX 00 was up 0.5% after trade figures came in line with expectations. Australia posted a seasonally adjusted trade deficit of A$1.3 billion in February, compared with a deficit of A$1.0 billion in January, the statistics bureau said Thursday. It was the biggest shortfall since September 2014.
In Hong Kong, telecommunications firm PCCW Ltd. jumped 5.1%, after its subsidiary Hong Kong Television Entertainment Co. received a 12-year free-to-air license from the local government.
Write to Chao Deng at Chao.Deng@wsj.com
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