Asian shares up as US expected to keep interest rates steady
City Index June 26, 2014 5:15 PM
<p>Asian shares increased today (June 26th) as weak US growth is expected to delay any increase in interest rates.</p>
Asian stocks rose today (June 26th) as US first-quarter data showed weak growth, suggesting that the world's first economy would delay raising interest rates.
The country's economy contracted at a much steeper pace in the first quarter than previously thought.
The MSCI Asia Pacific Index (MXAP) gained 0.7 per cent to 145.36. Japan’s Topix (TPX) index rose 0.2 per cent, while South Korea’s Kospi index gained 0.7 per cent.
Australia’s S&P/ASX 200 Index added 1.2 per cent, while New Zealand’s NZX 50 Index edged up 0.5 per cent.
Hong Kong’s Hang Seng Index rose 1.5 per cent, its biggest gain since May 12. The Hang Seng China Enterprises Index of mainland stocks traded in the city added 1.5 per cent, while the Shanghai Composite Index advanced 0.7 per cent.
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