Friday, June 12, 2015

Asian Market Update : Epic Research Singapore

Asian markets mostly rose Friday, tracking advances in New York, while the dollar edged up on a better-than-forecast US retail sales report.

But the euro struggled after the International Monetary Fund walked out of Greece's debt reform talks, saying Athens was not doing enough to find a compromise with its creditors.

Tokyo climbed 0.10 per cent, Hong Kong added 0.71 per cent, Shanghai gained 0.62 per cent, Seoul was 0.25 per cent higher and Sydney dipped 0.26 per cent.

US shares jumped for a second consecutive day Thursday after the Commerce Department said retail sales in May rose 1.2 per cent, better than the 1.1 per cent gain forecast by analysts.

The figures are the latest in a string of data showing the world's number one economy is back on the road to recovery after a wobbly few months at the start of the year caused by a severe winter.

The Dow gained 0.22 per cent, the S&P 500 added 0.17 per cent and the Nasdaq rose 0.11 per cent.

Forex traders pushed the dollar higher after the news, which will give the Federal Reserve more ammunition to hike interest rate from their record lows.

The dollar fetched 123.58 yen against 123.45 yen in New York late Thursday.

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