TMCnet News

ASIA PACIFIC [Pretoria News (South Africa)]
[October 31, 2014]

ASIA PACIFIC [Pretoria News (South Africa)]


(Pretoria News (South Africa) Via Acquire Media NewsEdge) MOST stocks advanced yesterday after the Federal Reserve said it would end its asset-purchase programme amid signs of a strengthening economy and as investors analysed earnings reports from some of the region's biggest companies.



Markets in China and Japan climbed. The MSCI Asia Pacific index slipped 0.4 percent to 140.02 at 4.05pm in Hong Kong, as the dollar strengthened.

Samsung Electronics rose 4.5 percent in Seoul after the world's biggest smartphone maker said fourth-quarter profit would increase. Renesas Electronics surged 5.4 percent in Tokyo after the semiconductor maker announced job cuts and earnings that topped estimates. Cnooc, China's largest offshore oil and gas producer, fell 4.5 percent, dragging Hong Kong's Hang Seng index lower, after third-quarter sales declined and a lower crude price eroded earnings.


"Markets may become more volatile," said Matthew Sherwood at Perpetual. - Bloomberg Pretoria News (c) 2014 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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