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.
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.