Asian stocks advance as Japan growth surprises
The Associated Press | Mon, 11/15/2010 10:13 AM
Asian markets were mostly higher in early trading
Monday, with sentiment in Japan bolstered by strong economic growth
data and a weaker yen.
The Nikkei 225 stock average rose 0.7 percent to 9,793.73 after
the government reported that gross domestic product expanded at an
annualized rate of 3.9 percent. Stronger spending by consumers and
businesses fueled the better-than-expected result.
Elsewhere, South Korea's Kospi climbed 0.6 percent to 1,924.71,
and Australia's S&P/ASX 200 index rose 0.4 percent to 4,710.9.
In New York on Friday, Dow Jones industrials lost 1 percent to
close at 11,193 on worries that China might try to put the brakes on
its surging economy. Any slowdown in the Chinese economy will likely
reduce global demand for oil, metals and grains, which sent prices
of those commodities lower.
In currencies, the dollar rose to 82.55 yen from 82.44 yen late
Friday. The euro stood at $1.3726 from $1.3708.
