Asian stocks climb after Wall Street gain

Asian stocks climb after Wall Street gain

Asian stocks rose Wednesday after Wall Street edged higher on news the US Federal Reserve is in no hurry to raise interest rates. Japan's benchmark fell after July trade declined.

 

Hong Kong's Hang Seng index rose 1.6 percent to 23,158.79 points and the Shanghai Composite Index advanced 0.4 percent to 3,120.92. Tokyo's Nikkei 225 lost 0.9 percent to 16,586.27.

Sydney's S&P ASX 200 gained 0.4 percent to 5,498.40 and India's Sensex rose 0.6 percent to 28,187.34. Benchmarks in New Zealand, Thailand, and Indonesia rose while Taiwan and Singapore retreated.

US stocks closed higher as big gains for utilities offset losses for retailers. The Dow Jones industrial average rose 0.1 percent to 18,573.94, the Standard & Poor's 500 index gained 0.2 per cent to 2,182.22 and the Nasdaq composite inched up 0.03 percent to 5,228.66.

Benchmark US crude added 3 cents to $46.82 per barrel in electronic trading on the New York Mercantile Exchange. The contract climbed 21 cents on Wednesday to close at $46.79.

Brent crude used to price international oils, lost 16 cents to $49.69 in London. It jumped 62 cents the previous session to $49.85.

The dollar edged up to 100.17 yen from Wednesday's 99.84 yen. The euro strengthened to $1.1305 from $1.1298, according to a news agency report.

-SRS-

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