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Japanese shares up ahead of Asian markets | Japanese shares up ahead of Asian markets |
(about 3 hours later) | |
Japanese shares continued to rally, jumping to a seven-year peak on Tuesday after last week's surprise stimulus move by the country's central bank. | |
The Nikkei 225 index rose 3.5% to 16,994.79 after being closed for a holiday on Monday. | |
It hit its highest level since October 2007 at 16,961.73 in morning trade. | |
That follows mixed trading on Wall Street where the S&P 500 and the Dow Jones hit intraday highs before closing lower. | |
Meanwhile, the yen continued to weaken against the dollar, also touching a seven-year high of 114.21 at one point on Tuesday. | |
Shares in automaker Honda were up 2.4% despite news that US authorities opened a probe into whether the automaker failed to report deaths or injuries involving Takata air bags. | |
Rest of Asia | |
In Greater China, Hong Kong stocks were higher 0.2% on profit-taking with the benchmark Hang Seng Index at 23,959.79 points. | |
On the mainland, the benchmark Shanghai Composite was flat at 2,430.02, after ending at an over 20-month high of 2,430.03 the previous day. | |
In South Korea, the benchmark Kospi index was down 1% at 1,933.37 points after data showed that manufacturing activity suffered its worst decline in four months in October. | |
The HSBC/Markit purchasing managers' index (PMI) fell to a seasonally adjusted 48.7 in October from 48.8 in September. A reading above 50 shows expansion in the sector. | The HSBC/Markit purchasing managers' index (PMI) fell to a seasonally adjusted 48.7 in October from 48.8 in September. A reading above 50 shows expansion in the sector. |
Shares of Hyundai Motor fell to its lowest in over four years, down more than 3% after it and affiliate Kia Motors agreed to pay $350mn (£218mn) in penalties to the US government for overstating its fuel mileage figures on vehicles. | Shares of Hyundai Motor fell to its lowest in over four years, down more than 3% after it and affiliate Kia Motors agreed to pay $350mn (£218mn) in penalties to the US government for overstating its fuel mileage figures on vehicles. |
Australian shares were higher with focus on the Reserve Bank of Australia's (RBA) decision to leave interest rates at a record low of 2.5%, which was widely expected. | |
The benchmark S&P/ASX 200 was up 0.2% at 5,518.50 points. |