Asian stocks rise on better US consumer confidence
The Associated Press, Tokyo | Mon, 06/14/2010 11:47 AM
Asian stock markets rose in early trading Monday as sentiment turned upbeat on a report showing U.S. consumers confidence grew to its highest level since early 2008.
Japan's benchmark Nikkei 225 stock average gained 151.51 points, or 1.6 percent, to 9,856.76 in the morning session. Investors also chased gains in Japanese exporters on an easing yen.
A weak yen helps Japanese exporters as it lifts the value of their repatriated profits, and makes their goods more competitive by price abroad.
South Korea's Kospi index added 1.1 percent to 1,693.28. Australia's stock market was closed Monday due to a public holiday.
Hong Kong's Hang Seng edged up 0.8 percent to 20,024.13. Shanghai's stock market was closed Monday, while shares in Taiwan rose 0.8 percent in early trading.
