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Asian markets up ahead of ECB move Asian markets up ahead of ECB move
(about 2 hours later)
Asian markets headed higher on Thursday as investors awaited the outcome of the European Central Bank's (ECB) monetary policy meeting.Asian markets headed higher on Thursday as investors awaited the outcome of the European Central Bank's (ECB) monetary policy meeting.
The ECB is expected to announce a programme of bond purchases, known as quantitative easing, to try to stimulate the eurozone economy.The ECB is expected to announce a programme of bond purchases, known as quantitative easing, to try to stimulate the eurozone economy.
In Japan, the benchmark Nikkei 225 closed up 0.3% at 17,329.02.In Japan, the benchmark Nikkei 225 closed up 0.3% at 17,329.02.
The yen weakened against the dollar to 118.17, compared with 117.96 the previous day.The yen weakened against the dollar to 118.17, compared with 117.96 the previous day.
Mainland Chinese shares continued to rise, building on Wednesday's surge when the market gained 4.7%. The Shanghai Composite index was up 0.4% at 3,336.6. Mainland Chinese shares continued to rise, building on Wednesday's surge when the market gained 4.7%. The Shanghai Composite index closed 0.6% higher at 3,343.34.
In Hong Kong, the Hang Seng index rose 0.7% to 24,527.46. In Hong Kong, the Hang Seng index rose 0.7% to 24,522.63.
Shares in Australia were also higher, with the benchmark S&P/ASX 200 finishing up 0.5% at 5,419.9.Shares in Australia were also higher, with the benchmark S&P/ASX 200 finishing up 0.5% at 5,419.9.
Investor confidence in Australia was boosted by news that sales of new homes rose for a second straight month in November.Investor confidence in Australia was boosted by news that sales of new homes rose for a second straight month in November.
The Housing Industry Association survey showed that sales of new homes climbed 2.2% to a seven-month peak.The Housing Industry Association survey showed that sales of new homes climbed 2.2% to a seven-month peak.
South Korean shares ended flat with the Kospi index at 1,920.82.South Korean shares ended flat with the Kospi index at 1,920.82.
Shares of Hyundai Motors fell 2% after the carmaker reported that its net profit in the fourth quarter had fallen 22% from a year ago.Shares of Hyundai Motors fell 2% after the carmaker reported that its net profit in the fourth quarter had fallen 22% from a year ago.