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Asian markets open higher
by hlk Thu 26 Apr 2012, 11:26
PETALING JAYA: Asian markets were mostly higher in Thursday's early trade, reflecting the overnight performance on wall street.
US stocks rallied on Wednesday, with Apple's surge giving the Nasdaq its biggest gain of the year, while the Fed chairman reassured markets that the central bank would do more if necessary to lift the economy.
Federal Reserve Chairman Ben Bernanke spurred further gains when he said the U.S. central bank “would not hesitate” to launch another round of bond purchases to drive borrowing costs lower if it looked like the economy needed it.
The Dow Jones industrial average shot up 89.16 points, or 0.69%, to 13,090.72 at the close. The Standard & Poor's 500 Index rose 18.72 points, or 1.36%, to 1,390.69. The Nasdaq Composite Index jumped 68.03 points, or 2.30%, to 3,029.63, and scored its best daily percentage gain since December 20.
On the local front, the FBM KLCI was up 3.73 points to 1,583.08 at 9.15am. Among the top gainers were Dutch Lady, Top Glove and UMW Holdings. Gainers outpaced losers 161 to 142, with 183 counters unchanged.
As for regional markets, Tokyo's Nikkei 225 rose 0.48% to 9,607.16 and Hong Kong's Hang Seng Index gained 0.52% to 20,753.18.
Shanghai's A index was flat at 2,406.79 while Taiwan's Taiex Index was down 0.07% to 7,557.57.
Seoul's Kospi Index was up 0.37% to 1,969.27, while Singapore's Straits Times Index slipped 0.04% to 2,978.52.
Nymex crude oil gained 10 cents to US$104.02 per barrel. Spot gold rose US$1.65 to US$1,645.77 per ounce. The ringgit was quoted at 3.058 to the US dollar.
US stocks rallied on Wednesday, with Apple's surge giving the Nasdaq its biggest gain of the year, while the Fed chairman reassured markets that the central bank would do more if necessary to lift the economy.
Federal Reserve Chairman Ben Bernanke spurred further gains when he said the U.S. central bank “would not hesitate” to launch another round of bond purchases to drive borrowing costs lower if it looked like the economy needed it.
The Dow Jones industrial average shot up 89.16 points, or 0.69%, to 13,090.72 at the close. The Standard & Poor's 500 Index rose 18.72 points, or 1.36%, to 1,390.69. The Nasdaq Composite Index jumped 68.03 points, or 2.30%, to 3,029.63, and scored its best daily percentage gain since December 20.
On the local front, the FBM KLCI was up 3.73 points to 1,583.08 at 9.15am. Among the top gainers were Dutch Lady, Top Glove and UMW Holdings. Gainers outpaced losers 161 to 142, with 183 counters unchanged.
As for regional markets, Tokyo's Nikkei 225 rose 0.48% to 9,607.16 and Hong Kong's Hang Seng Index gained 0.52% to 20,753.18.
Shanghai's A index was flat at 2,406.79 while Taiwan's Taiex Index was down 0.07% to 7,557.57.
Seoul's Kospi Index was up 0.37% to 1,969.27, while Singapore's Straits Times Index slipped 0.04% to 2,978.52.
Nymex crude oil gained 10 cents to US$104.02 per barrel. Spot gold rose US$1.65 to US$1,645.77 per ounce. The ringgit was quoted at 3.058 to the US dollar.
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