Asian markets advance; China stocks rally

| Updated: October 24, 2017 07:05:36

Asian markets mostly advance

Most Asian markets rose Monday following a strong week on Wall Street as Chinese trading resumed after a holiday.

The Shanghai Composite Index rose 1.1 per cent to 3,383.73 points and Sydney’s S&P-ASX 200 gained 0.6 per cent to 5,745.60. Markets in Japan and South Korea were closed for holidays, reports AP.

India’s Sensex added 0.3 per cent to 31,908.40. Hong Kong’s Hang Seng shed 0.4 per cent to 28,340.78 and Singapore also declined. Benchmarks in New Zealand, the Philippines and Indonesia advanced.

US stocks faded Friday as telecom and energy shares sank but ended the week near record highs. The S&P 500 index lost 0.1 per cent to 2,549.33. The Dow Jones industrial average slipped less than 0.1 per cent from its high to 22,773.67. The Nasdaq composite added 0.1 per cent to 6,590.18.

Benchmark US crude rose 18 cents to $49.47 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.50 the previous session to close at $49.29.

Brent crude, used to price international oils, gained 14 cents to $55.76 on London. It dropped 38 cents the previous day to $55.62.

The dollar edged down to 112.62 yen from Friday’s 112.65. The euro advanced to $1.1740 from $1.1731.

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