Asian shares were mixed today (September 25th) despite the release of data showing a surge in new home sales in the US.
The Commerce Department said new home sales were up 18 per cent in August to an annual rate of 504,000 homes, beating the 430,000 expected by economists.
The unexpected increase may "indicate that young people are perhaps now starting to feel economically secure enough to buy their own homes," Chang Wei Liang of Mizuho Bank told AP.
However, gains were limited by investor's worries about the situation in the Middle East following the start of US airstrikes on in Syria – and Europe's stagnant economy.
Hong Kong's Hang Seng slipped 0.64 per cent to 23,768.13. The Nikkei 225 rose 1.28 per cent to 16,374.15, while the Shanghai Composite edged up 0.07 per cent to 2,345.10.
Learn about the Asian markets and CFD trading at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.