AFP
Asian markets mostly ticked higher yesterday following another record close on Wall Street as investors welcomed more upbeat data indicating the US economy is back on track.
The positive US figures helped the dollar consolidate against the yen at a seven-month high, while it was at an 11-month peak against the euro following disappointing German data.
Tokyo ended marginally stronger, adding 13.60 points to 15,534.82, Sydney gained 0.24%, or 13.58 points, to 5,651.2 and Seoul added 0.33%, or 6.88 points, to 2,074.93.
Shanghai put on 0.11%, or 2.36 points, to end at 2,209.47 but Hong Kong closed 0.62%, or 155.75 points, lower at 24,918.75 after hitting a six-year high on Monday.
In other markets, Taipei climbed 0.98%, or 91.63 points, to 9,485.59; smartphone maker HTC advanced 1.5% to Tw$135.0 while Taiwan Semiconductor Manufacturing Co was 0.8% higher at Tw$125.5.
Wellington rose 0.93% or 48.07 points, to 5,243.70; Air New Zealand was up 1.16% at NZ$2.175 on a strong annual profit report, while software firm Xero gained 0.39% to NZ$25.50.
Manila gained 0.20%, or 14.11 points, to 7,160.46.
Kuala Lumpur gained 0.57%, or 10.56 points, to 1,872.38; Malayan Banking rose 0.20% to 10.06 ringgit, while Malaysian Airline System shed 1.96% to 0.25 ringgit.
Jakarta ended up 0.36%, or 18.70 points, to 5,165.25; Bank Negara Indonesia gained 0.47% at 5,350 rupiah, while cement manufacturer Semen Indonesia lost 1.22% at 16,250 rupiah.
Singapore closed up 0.55%, or 18.44 points, to 3,341.46; United Overseas Bank gained 0.69% to Sg$23.25 while public transport firm ComfortDelGro eased 0.39% to Sg$2.53.
Bangkok added 0.28%, or 4.41 points, to 1,564.58; insurance company Bangkok Life Assurance gained 2.44% to 84baht, while Delta Electronics rose 2.77% to 65baht.
US stocks jumped anew Tuesday after the Conference Board said consumer confidence rose in August for a fourth straight month, to its strongest level since February 2008. Also, durable goods orders surged in July to a new monthly record.
The news sent the S&P 500 up 0.11% to 2,000.02, ending above the 2,000 benchmark for the first time.
The Dow rose 0.17% to 17,106.70, just shy of a record high touched intra-day, while the Nasdaq added 0.29%.
As a result of the US bull-run, traders are now more confident about riskier assets, sending the dollar up against the yen to sit around highs not seen since January.
In Asia, the greenback bought 104.11 yen compared with 104.05 yen in New York but profit-takers led it lower to 103.90 yen in the afternoon.
“It seems as though the (Federal Reserve’s policy committee) is running out of arguments to retain its highly accommodative policy stance amid the ongoing improvements in the world’s largest economy,” said David Song of DailyFX.
The US unit broke 104 yen on Monday in response to comments from Fed chief Janet Yellen which some analysts took as an indication of a move towards an interest rate rise sooner than later.
Focus will now turn to the release of revised US second-quarter economic growth data today.
The euro continued to drop on news that German business confidence was at its lowest since July 2013, while European Central Bank chief Mario Draghi hinted at the weekend he could be open to monetary easing measures to lift the eurozone.