Asias share market

Shares in Japan rose more than 3% in trade on Monday, buoyed by gains on Wall Street, and a weaker yen, which helps the nation’s exporters.

Asias share marketThe positive trend could see the Nikkei 225 post its biggest daily rise in more than a year.

The US dollar made gains against Japan’s yen to 107.17 yen, from 106.22 yen on Friday.

One of Japan’s biggest exporters, Toyota, saw its shares rise nearly 5%, while Honda’s shares were up by 3%.

Other Asian markets including Hong Kong were also up in early trade on Monday.

The rises in Asia follow better-than-expected economic data and earnings from the US, which helped to settle Wall Street on Friday after a tumultuous few days of trading last week.

Disappointing numbers out of Germany, China and Japan, led to concern from investors about the health of the world economy and the ongoing ebola crisis.

Positive numbers

Hong Kong’s Hang Seng Index was up by 0.52% in Monday morning trade, while on the mainland, Shanghai’s Shenzhen CSI 300 Index was up by 0.41%.

Australia’s share market rose by about 1% before lunchtime, with the banking and mining sector contributing to the upward movement. The S&P/ASX 200 index rose by 51.6 points, reaching a three-week high and adding to gains on Friday.

Some of Australia’s biggest banks including Westpac, National Australia Bank and ANZ posted rises of more than 1% half way through the trading day.

The Korea Composite Stock Price Index, or Kospi, was also up, rising by more than 1.3% on Monday morning and coming back into positive territory after a three days of losses last week.

In currencies, Indonesia’s rupiah is expected to end the day higher on Monday after Joko Widodo is sworn in as the nation’s president.

Source BBC

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