Hong Kong shares end at highest level since June 2008
By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) — Most major Asian markets ended higher Monday, paced by mining and metals stocks.
The stock advances came in the wake of pre-weekend gains on Wall Street, as a much weaker-than-expected U.S. payrolls report for September spurred hopes that the Fed may launch a new round of quantitative easing to support the economy.
By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) — Most major Asian markets ended higher Monday, paced by mining and metals stocks.
The stock advances came in the wake of pre-weekend gains on Wall Street, as a much weaker-than-expected U.S. payrolls report for September spurred hopes that the Fed may launch a new round of quantitative easing to support the economy.
“Broad economic indicators are likely better-than-expected for the fourth quarter, boosting demand for metals and coal,” said Zeng Xianzhao, an analyst at Everbright Securities.
Mining and metals shares also gained elsewhere in the region, with BHP Billiton (BHP 81.36, -0.20, -0.25%) (AU:BHP 41.45, +0.45, +1.10%) rising 1.1% and Rio Tinto (RTP 62.90, +0.12, +0.19%) (AU:RIO 80.09, +0.54, +0.68%) climbing 0.7% in Sydney; Korea Zinc Co. adding 2.9% in a downbeat Seoul market; and Sterlite Industries (SLT 15.87, +0.21, +1.34%) advancing 3.7% in Mumbai trading.
