European Stocks and Indexes Up, Asian Equities Moving up Slightly

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European Stocks and Indexes Up, Asian Equities Moving up Slightly
European Stocks and Indexes Up, Asian Equities Moving up Slightly

European Stocks and Indexes Up, Asian Equities Moving up Slightly

Earlier, European stock-index futures advanced to some extent. Futures on the Euro Stoxx 50 Index expiring in March climbed 1 percent to 3,060 at 7:36 a.m. in London. There are also some indications that in the coming days there will be bring better trade for the Stoxx Europe 600 Index which is expected to rise.

On a slightly better trading day, contracts on the U.K.’s FTSE 100 Index added 0.7 percent. A similar pattern was seen in Standard & Poor’s 500 Index (SPX) futures that gained 0.5 percent. Similarly, the MSCI Asia Pacific Index rose 1.6 percent. Whereas S&P 500 closed at 1,792.50 i.e. a gain of 10.94 that is 0.61%, even DOW 30 closed higher at 15,928.56 and gained 90.68 i.e. 0.57%.

Following the upward swing in major indexes, NASDAQ closed up at 4,097.96 and gained 14.35 points, that is, a gain of 0.35%. Russell 2000 too fared better when it closed at 1,138.24 and gained 10.51 i.e. 0.93 percent.

Southeast Asian Stocks Up Today

The better trading trend has now been followed by most of the Southeast Asian market which is moving up today. A similar trend is being seen in Indonesia which is outperforming the region, with Jakarta’s Composite Index (JCI) up 1.8 percent amid bargain hunting.

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Major gainer in the Indonesian stock market is Charoen Pokphand Indonesia. Its stocks jumped 3.8 percent, making them one of the top percentage gainers on the large cap index. Other regional major stock market, the Philippine too seems to be doing better today as shares climbed 1 percent after a two-day losing streak.

Major gainer in the Philippine’s stock market is SM Prime Holdings. A positive trend in Malaysian stocks is being seen as they saw a slight upward movement as they rose 0.7 percent. Major gainer in Malaysia is oil and gas services company MISC.

Another major regional economy Thailand too is faring better today despite the political turmoil the country facing. Here stocks were up 0.6 percent. Major gainer in today’s trade in Thailand is canned tuna exporter Thai Union Frozen Products.

Though most of the Southeast Asian market was up, there were some weak spots, one of them was Singapore. Here shares were down 0.7 percent. The major loser in today’s trade in Singapore’s stock market was Singapore Telecommunications.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com