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Japan's Nikkei index rises for fifth day | Japan's Nikkei index rises for fifth day |
(about 1 hour later) | |
Japan's Nikkei index registered its biggest weekly gain since October, while Asian shares were mostly higher as worries over Greece and China eased. | Japan's Nikkei index registered its biggest weekly gain since October, while Asian shares were mostly higher as worries over Greece and China eased. |
The Nikkei 225 closed up 50.80 points at 20,650.92, its fifth gain in a row, having risen by 4.4% over the week. | The Nikkei 225 closed up 50.80 points at 20,650.92, its fifth gain in a row, having risen by 4.4% over the week. |
The market was lifted as the yen remained weak against the dollar, which is considered good news for exporters. | |
In mainland China, stocks rose with the Shanghai Composite climbing 3.5% to 3,957.35. | |
In Hong Kong, the Hang Seng index closed 1% higher at 25,415.27. | |
In South Korea, shareholders of construction firm Samsung C&T have approved the merger plans with holding company Cheil Industries. | In South Korea, shareholders of construction firm Samsung C&T have approved the merger plans with holding company Cheil Industries. |
The deal had been strongly criticised by US hedge fund Elliott Associates, the third-largest shareholder in Samsung C&T. | The deal had been strongly criticised by US hedge fund Elliott Associates, the third-largest shareholder in Samsung C&T. |
The share prices of both firms dived after the vote, with Samsung C&T closing down 10.4% and Cheil dropping 7.7%. | The share prices of both firms dived after the vote, with Samsung C&T closing down 10.4% and Cheil dropping 7.7%. |
The country's benchmark Kospi index closed down 0.5% at 2,076.79. | The country's benchmark Kospi index closed down 0.5% at 2,076.79. |
In Australia, the S&P/ASX 200 index ended flat at 5,670.11. | |
But Evan Lucas, market strategist with IG, said in a note that he was optimistic about the general outlook for Australian stocks. | But Evan Lucas, market strategist with IG, said in a note that he was optimistic about the general outlook for Australian stocks. |
"China worries have died down and Greece is now a non-issue (until September, anyway). The next month or two may be the first positive months since February." | "China worries have died down and Greece is now a non-issue (until September, anyway). The next month or two may be the first positive months since February." |