Forexpros – Asian stocks rose Thursday as investors bought and sold on earnings news and less out of political and economic concerns out of Europe.
During Asian trading on Thursday, Hong Kong’s Hang Seng Index was up 0.08%, Australia’s S&P/ASX200 was up 0.40%, while Japan’s Nikkei 225 Index was up 0.12%.
Earnings took center stage across Asia, as investors grew weary of the debt crisis in Europe, a key export market.
While Greece has been unable to assemble a coalition government in wake of last weekend’s parliamentary elections and while yields are spiking in Spanish government bond auctions, Toyota and other companies issued healthy earnings numbers.
Toyota, for example, said earlier it expects to triple its operating profit this year to more than USD12.5 billion, according to Reuters.
In Hong Kong, the top gainers included Esprit Holdings, up 7.49%, Hengan International, up 3.54%, and Henderson Land, up 1.82%.
Top Australian gainers included OM Holdings Limited, up 11.36%, Ramelius Resources, up 8.24%, and Perseus Mining, up 8.18%.
European stock futures indicated a higher opening.
France’s CAC 40 futures pointed to a gain of 0.42%, while Germany’s DAX 30 futures signaled a gain of 0.24%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.19%.
Dow Jones Industrial Average futures were up 0.20% while the S&P 500 futures were up 0.31%.
Later Thursday, provided no surprises emerge out of Europe, the U.S. will guide markets.
The U.S. will unveil official data on the country’s trade balance, followed by government reports on initial unemployment claims and import prices.
The country is also to release government data on the federal budget balance and the Treasury currency report, while Federal Reserve Chairman Ben Bernanke is due to speak.
His comments will be closely watched for any clues to the future possible direction of monetary policy.
Forexpros
