Market News & Analysis

Asian stocks up on US lead

Asian shares rose today (January 8th), led by a strong session on Wall Street, as oil prices resisted further decline.

Yesterday, the Dow Jones Industrial Average rose 1.2 per cent while the S&P 500 also added 1.2 per cent.

Brent crude extended gains in early Asian trade to hold above $51 (£33) a barrel, boosted by data showing the US economy remained resilient amid slowing global growth.

Sentiment was also lifted by the latest US jobs report, which found that private payrolls rose by 241,000 in December, up from 227,000 in November. 

Japan's Nikkei 225 closed up 1.67 per cent in one of its best days in three weeks. In Hong Kong, the Hang Seng index ended up 0.7 per cent. Australia's S&P/ASX 200, finished the day up 0.52 per cent, while South Korea's Kospi was up 1.11 per cent in line with the majority of regional indexes.

However, the Shanghai Composite ended 2.4 per cent lower on profit-taking.

Learn about the Asian markets and CFD trading at City Index.

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