Asian shares surge

Asian shares surge

Asian shares surged in morning trading Thursday in a second day of solid gains, buoyed by a rally on Wall Street and European markets, and an uptick in China's trade.

Japan's benchmark Nikkei 225 added 2.5 per cent to 16,788.28. Hong Kong's Hang Seng gained 0.8 per cent to 21,326.90 while the Shanghai Composite index was up 0.3 per cent at 3,076.16. Australia's S&P/ASX 200 rose 0.8 per cent to 5,168.60. South Korea's KOSPI climbed 1.2 per cent to 2,004.08.

US stocks climbed Wednesday. The Dow Jones industrial average jumped 187.03 points, or 1.1 per cent, to 17,908.28. The S&P 500 index rose 20.70 points, or 1.0 per cent, to 2,082.42. The Nasdaq composite index advanced 75.33 points, or 1.6 per cent, to 4,947.42.

Benchmark US crude oil fell 44 cents to $41.32 a barrel in electronic trading on the New York Mercantile Exchange. It lost 41 cents to $41.76 a barrel on Wednesday. Brent crude, the international standard, fell 50 cents to $43.68.

The euro fell to $1.1268 from $1.1275 on Wednesday. The dollar fell to 109.36 yen from 109.43 yen, according to a news agency report.

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