Market news
16.09.2013, 09:18

Asia Pacific stocks close

Asian stocks rose after Lawrence Summers withdrew from consideration to be the next Federal Reserve chairman, paving the way for Janet Yellen, who some investors say may favor a slower reduction in U.S. stimulus.

Nikkei 225 14,404.67 +17.40 +0.12%

Hang Seng 23,219.19 +303.91 +1.33%

S&P/ASX 200 5,247.99 +28.36 +0.54%

Shanghai Composite 2,231.4 -4.82 -0.22%

The MSCI Asia Pacific excluding Japan Index increased 1.6 percent to 464.04 as of 2:32 p.m. in Hong Kong, heading for its highest close since May 30.

Newcrest Mining Ltd. , Australia’s biggest gold producer, jumped 5.1 percent in Sydney as the bullion’s price rose.

Tencent Holdings Ltd., China’s biggest Internet company, rose 1.6 percent in Hong Kong, on course for a record close.

SK Hynix Inc., the world’s No. 2 maker of computer-memory chips, gained 2.8 percent in Seoul after a report that U.S. rival Micron Technology Inc. is cutting its production by about 30 percent.


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