Friday, May 15, 2015

Asian Market Update : Epic Research Singapore

Asian markets mostly advanced on Friday following a healthy rally on Wall Street, while Tokyo was supported by a weaker yen.

The euro remained a target for buying after this week's upbeat eurozone growth data and despite Greece's struggles to hammer out a debt reform deal with creditors.

Tokyo climbed 0.60 per cent, Hong Kong added 0.36 per cent and Sydney gained 0.50 per cent while Seoul was flat and Shanghai 1.05 per cent.

The three main indexes in New York each tacked on more than one percent Thursday as expectations the Federal Reserve will hike interest rates have fizzled in the wake of a string of soft economic indicators.

Figures showing the US producer price index fell 0.4 percent last month more than wiped out March's first increase since October and fell well short of forecasts for a 0.2 per cent rise. That came a day after news that retails sales saw their weakest year-on-year growth since 2009.

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