Asian Stocks Boosted By Smartphone Sales

January 30th, 2013 by admin Leave a reply »

Asian stocks generally rose this past week; Hong Kong and Australian markets remained high in anticipation of the U.S. Federal Reserve’s new policy choice, while a number of Japanese shares increased as a result of smartphone exposure.

The Hong Kong Hang Send Index climbed 1 percent after reaching its highest level since May of 2011. The Shanghai Composite Index made slow but definite progress as well, growing 0.2 percent.

In Japan, the Nikkei Stock Average increased 1.2 percent. Outlook on earnings actually buoyed the Japanese market over the past week. For example, Yahoo Japan Corp. grew a whopping 15.7 percent after updated their fiscal-year prediction to a 10-11 percent gain.

Telecoms saw significant earnings-related purchasing as well after the Nikkei reported a 10 percent gain forecast thanks to the company’s iPhone sales. Similarly, KDDI Corp. revealed a 40 percent gain in operating profit after evaluating their iPhone sales.



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