Stock market today: Asian shares track Wall St's strong finish ahead of Trump's inauguration
abcnews.go.comAsian shares are higher after U.S. stock indexes rallied to close out their best week in two months
BANGKOK — Asian shares advanced early Monday after U.S. stock indexes rallied to close out their best week in two months, while U.S. futures and oil prices were little changed.
Hong Kong’s Hang Seng jumped 2.3% to 20,041.09 after China’s central bank kept its key lending rates unchanged and the Shanghai Composite index was up 0.5% at 3,257.24.
A Hong Kong court extended a deadline for troubled property developer Country Garden to reach an agreement with its creditors until next month in the latest slow step toward recovery from a downturn in the real estate industry.
Sentiment also was helped by upbeat comments by U.S. and Chinese officials ahead of President-elect Donald Trump's inauguration later Monday. Pledges by both sides to work to improve relations may have alleviated some concerns over trade tensions that have built up as businesses brace for a possible increase in tariffs on Chinese exports to the U.S.
Tokyo's Nikkei 225 index climbed 1.2% to 38,914.60. The dollar slipped against the Japanese yen, trading at 156.02 yen, down from 156.31 yen. Expectations are building that Japan's central bank might raise its key interest rate in a monetary policy meeting later this week. That tends to boost the value of the yen versus the dollar.
The euro rose to $1.0304 from $1.0281.
In South Korea, the Kospi was nearly flat at 2,524.12, while Australia's S&P/ASX 200 rose 0.5% to 8,354.90.
Taiwan's Taiex picked up 0.5% and India's Sensex edged 0.2% higher. Bangkok's SET gained 0.3%.
In other dealings early Monday, U.S. benchmark crude oil shed 2 cents to $77.37 per barrel and Brent crude, the international standard, gave
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