(MENAFN– ecpulse)
Asian stocks gained in today`s trades, after a hard fall in the last two weeks. Stocks rebounded on higher earnings forecasts alongside a drop in natural gas futures, as the MSCI Asia Pacific Index climbed 0.8 percent in Tokyo.
Japan`s Topix Index inclined by 1.2 percent, while Australia`s Standard & Poor`s 500 Index gained 0.1 percent. This came alongside a better performance for South Korea`s won, as it rose 0.5 percent to 1,147 per dollar and Malaysia`s ringgit climbed 0.3 percent to 3.2095 per dollar, while the yen held gains against the U.S dollar. Yet, gas futures dropped 0.4 percent.
Analysts expect earnings growth in the quarter ending September and that should help to push stocks upside in the coming period. However, analysts still find the big challenge can be the outlook of 2014, especially with obstacles standing against the U.S economy these days. We can say that the short term outlook appears to be good, but the medium term outlook remains unclear.
Korea`s Kospi index climbed 0.6 percent, while the S&P/ASX 200 index rose 0.9 percent and Hong Kong`s Hang Seng index inclined 1.1 percent. As for China, the Shanghai Composite Index fell 14 percent this year, as China is targeting annual growth of 7 percent this decade compared with 10 percent in the pervious decade.
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