Wednesday, September 19, 2012

Asian stock markets september 20 2012

Asian stock markets september 20 2012 : Asian markets are set to edge higher on Thursday after U.S. stocks eked out small gains on a better-than-expected existing home sales report. The Bank of Japan's move to expand a bond-buying program could also support sentiment.

Japanese shares are set to climb. The Nikkei average had hit a four-month closing high on Wednesday after the Bank of Japan eased monetary polic

The Nikkei ended 1.2 percent higher at 9,232.21 on Wednesday, while the broader Topix index gained 0.9 percent to 764.80.

Investors will be watching out for the country's trade data for August.

Japanese retailer Aeon is likely to be in focus on a report it is in talks to buy Carrefour's Malaysian business, a source familiar with the matter told Reuters on Wednesday, as the struggling French retailer exits non-strategic markets.

South Korean stocks are set to inch higher as well, tracking Wall Street's lead.

The Korea Composite Stock Price Index rose 0.2 percent to close at 2,007.87 points in the previous session.

Australian stocks are set for a mixed start. There's a boost from the positive close on Wall Street, but a fall in global miner BHP Billiton's U.S. ADRs could cap gains.

BHP's shares are expected to open 0.8 percent lower in Australia.

Local share price index futures fell 5 points to 4,410, a 8.4 point discount to the underlying S&P/ASX 200 index close of 4,418.36 on Wednesday.

New Zealand's benchmark NZX 50 index rose 0.5 percent to 3,817.7 points in early trade. The country posted stronger-than-expected domestic economic growth in the second quarter.

Official data showed GDP rising 0.6 percent in the three months to June 30, against expectations for a 0.3 percent gain.

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