Thursday, 8 May 2014

Market outlook: Asian Shares Upbeat, Positive Chinese Data


Asian shares moved up with the positive sentiment from dovish comments by the U.S. Federal Reserve chief Janet Yellen on 7th May . This was followed by the positive Chinese trade data showing some signs of stabilization.

Tokyo's Nikkei share average moved up by 1.1 %. The MSCI's broadest index of Asia-Pacific shares excluding Japan moved up by 0.5 %. Chinese exports surged up by 0.9 % in April compared to the year earlier. While the economists' estimates of exports were around a 1.7 % decline, the positive data have been higher than the expectations. In addition to that the imports also exceeded economists' expectations.

While in the U.S., the Dow Jones industrial average made an upswing of 0.7 %. While the S&P 500 advanced by 0.6 % Loosing its shine, Gold consolidated at $1,290.30 per ounce after being pressured down to 1.4 % on May 7.