Asian Market Update : Epic Research Singapore

Asian markets firmed Thursday, taking up the baton from Wall Street, where dealers broke a three-day losing streak thanks to news that new home sales had hit a six-year high.

The strong US data helped the dollar resume its uptrend and push back towards the 110 yen level, while the euro struggled after a disappointing survey of business confidence in Germany.

Tokyo shares rose 1.11 per cent as the yen fell to levels not seen since August 2008, while Hong Kong climbed 0.53 per cent, Sydney added 0.26 per cent, Seoul was up 0.25 per cent and Shanghai gained 0.64 per cent.

Asian markets, which have been in a slumber this week, got a shot in the arm from the surge on New York's three main indexes in response to the housing figures.

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