Market Report – Asia Stocks Up

Posted by admin as shares and stocks

Most Asia markets gain on Tuesday; Shanghai markets fall after earthquake.

ZHANG:
Asian shares gained on Tuesday, led by banks, tech companies, and automakers.

Japan’s benchmark Nikkei (13953.73) climbed 1.5 percent for a second day of gains. Exporters like Sony were among the biggest winners. The world’s top auto maker Toyota edged up on news of plans to boost its production capacity.

China stocks traded in Shanghai fell after the worst earthquake in three decades. Estimates of the total losses in human life and property from the 7.9 magnitude earthquake are still rising. The earthquake will have financial repercussions as well. Sichuan province, where the quake hit the hardest, contains 40 percent of China’s natural gas deposits.

Analysts also predict that the quake could increase inflationary pressure. Inflation in China accelerated to 8.5 percent last month.

In monetary news, the dollar was steady as investors remained uncertain about the direction of U.S. interest rates. Oil prices, meanwhile, retreated as some investors saw a recent rally to record highs as excessive.

Duration : 0:1:29

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