Asian shares rise ahead of China meeting

| Updated: October 25, 2017 04:25:14

Asian shares rise ahead of China meeting

Asian stocks rose Tuesday after Wall Street’s major indexes hit new highs as China prepared to open a key political meeting.

The Shanghai Composite Index was unchanged at 3,380.38 and Tokyo’s Nikkei 225 gained 0.3 per cent to 21,325.67. Hong Kong’s Hang Seng gained 0.2 per cent to 28,744.01.

Sydney’s S&P-ASX 200 rose 0.8 per cent to 5,894.00. Seoul advanced 0.2 per cent to 2,484.07 while India’s Sensex lost 0.2 per cent to 32,577.11.

Benchmarks in New Zealand and Singapore gained while Taiwan, Bangkok and Jakarta retreated, according to AP.

US stocks set records for a sixth straight week. Financial, technology and energy stocks rose while health care declined. The S&P 500 index added 0.2 per cent to 2,557.64.

The Dow Jones industrial average rose 0.4 per cent to 22,956.96. The Nasdaq composite gained 0.3 per cent to 6,624.

Benchmark US crude fell 5 cents to $51.81 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 42 cents on Monday to close at $51.87.

Brent crude, used to price international oils, held steady at $57.82 in London. It rose 65 cents the previous session to $57.82.

The dollar declined to 112.07 yen from Monday’s 112.18. The euro retreated to $1.1783 from $1.1798.

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