US stocks Friday closed modestly higher as investors increasingly viewed Federal Reserve's surprise move to raise its discount rate as an important signal that US policymakers feel confident in financial system recovery. The market was also boosted by the Labor Department's report that consumer prices barely rose in January and core inflation dropped for the first time since 1982. For the week, Dow index surged 3 per cent, the S&P 500 rose 3.1 per cent, and the Nasdaq gained 2.8 per cent.
Asian shares Monday are expected to be buoyed after Wall Street delivered its best week of the year. China's Shanghai bourse will open today after a long holiday for the Lunar New Year. The Hong Kong and Tokyo stocks lost more than 2 percent on Friday on U.S. Federal Reserve's decision to raise its discount rate. The discount rate hike also sent commodities prices lower and hit resources shares in the region.
Company News
Shares in Takeda Pharmaceutical (
Citic Securities Co. (
South Korean conglomerate STX Group has decided not to join the bidding for a stake in Daewoo Engineering & Construction Co. (
Shares of Nikon Corp (
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