Asian shares mostly rose Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies.
Jitters eased over the visit of U.S. House Speaker Nancy Pelosi to Taiwan after she left for South Korea and then later Japan, firm U.S. allies for decades. But analysts said some geopolitical risks remain, with China conducting military exercises near the self-ruled island that it claims as its own territory.Jitters eased over the visit of U.S. House Speaker Nancy Pelosi to Taiwan after she left for South Korea and then later Japan, firm U.S. allies for decades.
Japan’s benchmark Nikkei 225 NIK added 0.6% in morning trading. Australia’s S&P/ASX 200 XJO gained 0.2% and South Korea’s Kospi 180721 added 0.3%. Hong Kong’s Hang Seng HSI rose 1.3%, while the Shanghai Composite SHCOMP edged up 0.2%. Stocks fell in Taiwan Y9999 , but advanced in Singapore STI and Indonesia JAKIDX .
Investors cheered a report on the services sector, which makes up the bulk of the U.S. economy. The sector grew faster than expected in July, according to the Institute for Supply Management. A separate report showed U.S. orders for big-ticket, durable goods increased more than expected in June.
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