Asian stocks advance as Japan growth surprises-A A +A
Monday, November 15, 2010
TOKYO — Asian markets were mostly higher in early trading Monday, with sentiment in Japan bolstered by strong economic growth data and a weaker yen.
The Nikkei 225 stock average rose 0.7 percent to 9,793.73 after the government reported that gross domestic product expanded at an annualized rate of 3.9 percent. Stronger spending by consumers and businesses fueled the better-than-expected result.
Elsewhere, South Korea's Kospi climbed 0.6 percent to 1,924.71, and Australia's S&P/ASX 200 index rose 0.4 percent to 4,710.9.
In New York on Friday, Dow Jones industrials lost 1 percent to close at 11,193 on worries that China might try to put the brakes on its surging economy. Any slowdown in the Chinese economy will likely reduce global demand for oil, metals and grains, which sent prices of those commodities lower.
In currencies, the dollar rose to 82.55 yen from 82.44 yen late Friday. The euro stood at $1.3726 from $1.3708. (AP)