MARKET-GLOBAL/ASIA Asia extends global stocks rally as upbeat US GDP soothes sentiment

Record ID: 142196

  • Title: MARKET-GLOBAL/ASIA Asia extends global stocks rally as upbeat US GDP soothes sentiment
  • Date: 28th August 2015
  • Summary: TOKYO, JAPAN (AUGUST 28, 2015) (REUTERS) EXTERIOR OF TOKYO STOCK EXCHANGE (TSE) BUILDING SIGN READING (English): "JPX, TOKYO STOCK EXCHANGE" ELECTRONIC STOCK BOARD ALARMING AT OPENING OF TOKYO STOCK MARKET ELECTRONIC STOCK BOARD SHOWING NIKKEI 225 STOCK AVERAGE OPENING AT 18,908.73 UP 334.29 POINTS TOKYO STOCK MARKET CENTER WORKING SPACE SEOUL, SOUTH KOREA (AUGUST 28, 2015) (REUTERS) TRAFFIC ON SEOUL STREETS PEOPLE WALKING ACROSS INTERIOR OF DEALING ROOM ELECTRONIC BOARD SHOWING KOREA COMPOSITE STOCK PRICE INDEX (KOSPI) DEALERS WORKING DEALER LOOKING AT MONITORS DEALER TALKING ON PHONE VARIOUS OF DEALERS WORKING MORE INTERIOR OF DEALING ROOM SYDNEY, AUSTRALIA (AUGUST 28, 2015) (REUTERS) SYDNEY STOCK EXCHANGE BUILDING ELECTRONIC BOARD DISPLAYING STOCKS, MARKET GAINS AND LOSSES VARIOUS OF ELECTRONIC BOARD DISPLAYING STOCK PRICES VARIOUS OF ELECTRONIC GRAPH SHOWING S&P / ASX 200
  • Embargoed: 12th September 2015 13:00
  • Keywords:
  • Topics: General
  • Reuters ID: LVA1VVJS8KFU7JD9KP4NHG0JDLB0
  • Aspect Ratio: 16:9
  • Story Text: Asian shares extended a global rally on Friday (August 28) after upbeat U.S. economic data calmed sentiment shaken by days of turmoil in Chinese equities.
    Wall Street rose sharply overnight thanks to revised U.S. gross domestic product data showing the economy grew faster than initially thought in the second quarter - a reassuring sign amid worries over deepening economic woes in China.
    Japan's Nikkei was up 2.3 percent at 19,005.83 points by midmorning after climbing as high as 19,047.68, rising above its 200-day moving average for the first time in five days. The Nikkei's 200-day moving average stood at 19,031 as of Thursday market close.
    The broader Topix gained 2.3 percent to 19,005.36 and the JPX-Nikkei Index 400 advanced 2.6 percent to 13,852.73.
    Seoul shares rose by midday as risk-on sentiment improved after rallies in stock markets around the world overnight and sharply rebounds in oil prices.
    The Korea Composite Stock Price Index (KOSPI) was up 1.15 percent at 1,930.02 points, in the first 15 minutes of trading.
    Australian shares trimmed early gains on Friday after poor data from China raised concerns about weakness in the world's second-largest economy although energy and materials sectors propped up the index following a rebound in commodity prices overnight.
    The S&P/ASX 200 index rose 0.7 percent, or 33.77 points, to 5,266.5 by 0233 GMT, but pulled back from a 1.4 percent jump in morning trade.
    It marked the fourth straight day of rises for the index, which gained 1.2 percent on Thursday (August 27). After a tumultuous start to the week when global markets were rocked by turmoil in Chinese equities, the index is on track for its first percentage gain in three weeks.
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