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Stocks in Asia rise following positive data from the US | |
(about 5 hours later) | |
Stocks in Asia were mostly up on Thursday, following Wall Street's lead and buoyed by a positive jobs survey in the US, together with hopes of further stimulus measures in the eurozone. | Stocks in Asia were mostly up on Thursday, following Wall Street's lead and buoyed by a positive jobs survey in the US, together with hopes of further stimulus measures in the eurozone. |
Japan's Nikkei 225 closed up 1.67% in one of its best days in three weeks. | |
Oil prices rebounded slightly, too, from fresh lows seen earlier this week, giving a boost to investor confidence. | Oil prices rebounded slightly, too, from fresh lows seen earlier this week, giving a boost to investor confidence. |
The latest US jobs report found that private payrolls rose by 241,000 in December, up from 227,000 in November. | The latest US jobs report found that private payrolls rose by 241,000 in December, up from 227,000 in November. |
Further fresh figures from the US showed the country's trade deficit narrowed to an 11-month low in November, with the drop in oil prices cutting the cost of imports. | Further fresh figures from the US showed the country's trade deficit narrowed to an 11-month low in November, with the drop in oil prices cutting the cost of imports. |
The price of oil traded in the United States, known as West Texas Intermediate crude, has fallen below $50. | The price of oil traded in the United States, known as West Texas Intermediate crude, has fallen below $50. |
While the price of Brent crude had dipped below $50 a barrel for the first time since May 2009, hitting $49.66 a barrel, it later recovered to $51.20. | While the price of Brent crude had dipped below $50 a barrel for the first time since May 2009, hitting $49.66 a barrel, it later recovered to $51.20. |
More good news | More good news |
Other good news for investors in Asia came from Europe. | Other good news for investors in Asia came from Europe. |
The latest eurozone inflation figures showed inflation turned negative in December, with prices down 0.2% from a year earlier, but the data means the European Central Bank may be forced to try fresh stimulus measures to kick-start the economy. | The latest eurozone inflation figures showed inflation turned negative in December, with prices down 0.2% from a year earlier, but the data means the European Central Bank may be forced to try fresh stimulus measures to kick-start the economy. |
In Hong Kong, the Hang Seng was up 0.79% in afternoon trade, while the Shanghai Composite was bucking the trend, down 1.4% despite the good economic news from the US. | |
Du Changchun, an analyst at Northeast Securities in Shanghai, said profit-taking was one factor behind Shanghai's market falling on Thursday. | |
"Furthermore, the momentum for blue-chips seems to have weakened because of shrinking turnovers," he said. | |
Australia's share market, the S&P/ASX 200, finished the day up 0.52%. | |
In South Korea, the benchmark Kospi was up 1.11% in line with the majority of regional indexes. |