TMCnet News
ASIA PACIFIC [Mercury, The (South Africa)](Mercury, The (South Africa) Via Acquire Media NewsEdge) STOCKS rose yesterday, following the steepest US rally in a year, amid speculation Europe's central bank would add stimulus and Apple's record holiday sales forecast buoyed optimism about US company earnings. The MSCI Asia Pacific index gained 1.5 percent to 138 at 4.36pm in Hong Kong. The gauge rebounded this week after sinking to an almost seven-month low on October 17. Huaneng Power International climbed 2.1 percent in Hong Kong after its third-quarter profit exceeded Barclays Plc's estimate by 8 percent. Sony gained 3.4 percent after Third Point, the hedge-fund run by activist investor Daniel Loeb, sold its stake in the electronics maker. BYD, the electric car maker partially owned by Warren Buffett's Berkshire Hathaway, rose 3.5 percent after China said it would promote the use of alternative-energy vehicles. "Japan and ECB [European Central Bank] will fill the gap left by the Fed," said Shane Oliver at AMP Capital Investors. - Bloomberg The Mercury (c) 2014 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |