Friday, 31 October 2014

Asian Market Update : Epic Research Malaysia

Asian markets rallied on Friday and the dollar edged back towards 110 yen after the United States released forecast-busting economic growth data that soothes concerns about the global outlook.

Japanese stocks led the way as the weakening of the yen and a report that the country's vast national pension fund would double its domestic stock holdings offset another batch of poor indicators.

Tokyo climbed 1.73 per cent, Hong Kong put on 0.70 per cent, Shanghai added 0.23 percent, Sydney was 0.59 per cent higher and Seoul tacked on 0.21 per cent.

The US Commerce Department said the world's largest economy grew at an annualised 3.5 per cent in July-September owing to stronger exports and defence spending. Expectations had been for a 3.0 per cent rise.

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