Australian shares closed lowered yesterday as investors expected a further fall on US market. The S&P/ASX 200 fell 86.8 points, or 2.3 per cent, to 3619.5, while the All Ordinaries was down 81 points, or 2.22 per cent at 3567.5. The financial stocks may be hit by International Monetary Fund's forecast of increasing toxic assets.
Asian markets Friday opened broadly higher as Wall Street rallied for a second consecutive day after some good corporate earnings. Yesterday the major indices posted strong gains. Hong Kong's Hang Seng Index rose 3.6% while Shanghai Composite jumped 3.1%. Japan's Nikkei 225 Average rose 1.8% and South Korea's Kospi added 1.2%.
Most Asian markets opened firmer Thursday following Wall Street's rebound overnight lifted by better-than-expected economic figures.
Yesterday the Australian market closed marginally higher as financial stocks surged. The benchmark S&P/ASX200 index gained 0.1%, or 3.2 points at 3348.4, while the broader All Ordinaries index was up 0.1%, or 2.6 points, at 3297.3. Australian shares may receive support from the stronger copper and oil prices, despite the falls on Wall Street.
Most Asian markets declined on Monday. Japan's Nikkei average tumbled 1.2% to a 26-year low, while Hong Kong's Hang Seng Index slumped 4.8%, the sharpest fall in the major indexes in Asia. China's Shanghai Composite was down 3.4%. But South Korea's Kospi ended 1.6% higher lifted by technology and shipbuilding sectors.
Yesterday the Australian market closed higher led by resources sector as Chinese Premier Wen Jiabao said the Chinese government will increase spending to boost the economy and achieve an 8% growth target this year. It raised the expectations that China's stimulus measures will prompt the demand for resources. The benchmark S&P/ASX200 index was up 22.1 points, or 0.7 per cent, to 3,188.5, while the broader All Ordinaries index rose 22.9 points, or 0.73 per cent, to 3,148.8.
Asian shares broadly fell Tuesday following the declines on Wall Street. But Investors' hopes over the stimulus measures from China and Japan have offset some bleak sentiment led by the US market. Japan's Nikkei 225 Average ended with a modest fall of 0.7% while South Korea's Kospi Composite gained 0.7% and Taiwan's Taiex added 0.2%. Shanghai Composite fell 1.1% and Hong Kong's Hang Seng Index ended 2.3% lower.
