This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Asia Stocks Muted As Cheer Over US Jobs Fades

By PAMELA SAMPSON

BANGKOK (AP) â¿¿ World stock markets were pushed higher Wednesday by an improvement in China's trade and yet another record-busting session on Wall Street.

The Dow Jones industrial average closed above 15,000 for the first time ever Tuesday, driven by optimism that the U.S. economy will keep gaining momentum.

There was also good news from China, where the government reported that growth in imports and exports accelerated in April, suggesting that the world's No. 2 economy might be strengthening after an unexpected decline in the first quarter of 2013.

But some analysts refrained from drawing too many conclusions from just one set of monthly data. There are also persistent doubts about the accuracy of China's official economic statistics. China's export figures often vary greatly from the Chinese import figures recorded by trading partner countries.

"We still cannot conclude that China's economy is doing good," said Linus Yip, strategist for First Shanghai Securities in Hong Kong. "I think at this moment, it is encouraging and it helps market sentiment."

In early European trading, Britain's FTSE 100 rose less than 0.1 percent to 6,560.92. Germany's DAX advanced 0.1 percent to 8,189.52. France's CAC-40 added 0.4 percent to 3,936.51.

Wall Street futures were mixed, with Dow Jones futures rising less than 0.1 percent to 14,989. S&P 500 futures were marginally lower at 1,620.30.

Japan's Nikkei 225 index rose 0.7 percent to 14,285.69, its highest close in almost five years. Australia's S&P/ASX 200 gained 1.1 percent to 5,199.80. South Korea's Kospi advanced 0.1 percent to 1,956.45. Benchmarks in Singapore, Taiwan, Indonesia, Thailand, and the Philippines rose.

In mainland China, the Shanghai Composite Index gained 0.5 percent to 2,246.3, while the smaller Shenzhen Composite Index rose 1.1 percent to 965.41. Shares in biotechnology, information technology and media-related companies led the gains.

Hong Kong's Hang Seng added 0.9 percent to 23,244.35, driven by a 1.7 percent rise in locally listed shares of HSBC Holdings. The London-headquartered bank, Europe's largest by market value, on Tuesday reported a doubling in profits for the first quarter of the year.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs