Otis Underwood | May 31, 2016, 8:05
Hong Kong shares close slightly higher
The Nikkei Stock Average NIK, +1.39% was up 0.9%, fueled by weakness in the Japanese yen amid broad US dollar strength, boosting export-oriented companies.
European markets rose on Monday overnight as local currencies depreciated against a stronger United States dollar, which was seen to benefit exporters. Citi Securities (6030.Hong Kong) rose 2.9%, Haitong Securities (6837.Hong Kong) gained 3.4%.
A weaker currency helps the competitiveness of local firms paying costs at home and repatriating earnings from overseas.
The NASDAQ advanced 31.74 points or 0.7 percent to 4,933.51, while the Dow rose 44.93 points or 0.3 percent to 17,873.22 and the S&P 500 climbed 8.96 points or 0.4 percent to 2,099.06.
The index compiler said in March a decision to include 5 percent of yuan-denominated shares in its index will depend on regulators implementing changes so that widespread halts can’t happen again.
Boston Red Sox vs
But on Saturday, with right-hander Rick Porcello on the mound, Jays manager John Gibbons went with the right-handed Barney. They’re also 1-4 in Dickey’s last five starts overall versus the Red Sox, who are 5-1 in Price’s last six starts overall.
Noble’s share price has fallen by as much as two thirds since February 2015 when its accounting practices were first criticized by an anonymous blogger. The European and USA markets were slightly higher on Friday and the Asian markets figure to follow suit.
U.S. Federal Reserve Chair Yellen said at Harvard University on Friday that an interest rate hike in the next few months would probably be appropriate if economic data improves.
The global forecast for the Asian markets is cautiously optimistic, with support from crude oil prices likely capped by persistent concerns over the likelihood of a US rate hike. At the same time, an increase would signal strengthening in the US economy, a positive driver for stocks.
Yellen’s remarks followed a Commerce Department report showing stronger than estimated Q1 GDP growth – which was upwardly revised to 0.8 percent from 0.5 percent.
USA stock markets were closed on Monday due to the Memorial Day holiday. But stock indexes there rose Friday, as riskier corners of the markets also picked up.
