FXWire Pro Headline | January 17 2013 10:22 EST
ASIAN SHARES RISE ON FIRM CHINA, U.S. DATA
- Asian shares advanced as encouraging Chinese data confirmed a recovery was on track in the world's second largest economy, cementing positive sentiment after global equities rose overnight on firm U.S. labour and housing market reports.
- The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, snapping a three-day losing streak, carrying upbeat momentum after the Standard & Poor's 500 Index rallied to a five-year closing high.
- Australian shares added 0.3 percent, after closing Thursday at a 20-month high when an unexpected fall in Australian employment in December narrowed the odds of another interest rate cut.
- Hong Kong shares rose 0.7 percent and Shanghai shares gained 0.5 percent.
- Nikkei average surged 2.2 percent as the yen resumed its downtrend after a brief pause in recent heavy selling.