Quantcast


Last updated: February 17. 2013 2:12AM - 17 Views

FILE - In this Sept. 12, 2012 file photo, Michael O'Connor, right, of Getco Securities and a fellow trader work on the floor of the New York Stock Exchange in New York. Futures are edging higher Wednesday, Sept. 19, ahead of a pair of reports regarding the U.S. housing market that are expected to provide more hope for the beleaguered industry. (AP Photo/Henny Ray Abrams, File)
FILE - In this Sept. 12, 2012 file photo, Michael O'Connor, right, of Getco Securities and a fellow trader work on the floor of the New York Stock Exchange in New York. Futures are edging higher Wednesday, Sept. 19, ahead of a pair of reports regarding the U.S. housing market that are expected to provide more hope for the beleaguered industry. (AP Photo/Henny Ray Abrams, File)
Story Tools:

Font Size:

Social Media:

(AP) Asian stock markets rebounded Friday, led by oil and technology shares, despite uncertainty about the fragile global economy.


Crude rose above $93 in Asian trading, helping to boost energy stocks.


The regional heavyweight, Tokyo's Nikkei 225 index, gained 0.6 percent to 9,142.29 while China's benchmark Shanghai Composite Index added 0.1 percent to 2,027.03. Hong Kong, Seoul and Sydney also rose.


The gains helped to reverse some of the week's losses after Japanese data showed exports suffered from debt-crippled Europe's downturn and a Chinese index showed manufacturing contracted in September.


Hong Kong's Hang Seng rose 0.7 percent to 20,741.3. Seoul's Kospi index added 0.5 percent to 2,001.33 and Sydney's ASX S&P 200 rose 0.4 percent to 4,413.6.


In China, Asia's biggest oil and gas producer, PetroChina Ltd., gained 1.5 percent while rival CNOOC Ltd. added 1.3 percent. China Mobile Ltd., the world's biggest phone carrier by subscribers, rose 2 percent.


That came after HSBC Corp. said Thursday its September purchasing managers' index showed manufacturing activity contracted but the slowdown might be stabilizing.


Analysts expect China to start recovering from its deepest economic slump since the 2008 global crisis later this year or in early 2013.


Benchmark crude for October delivery was up 62 cents at 93.04 in electronic trading on the New York Mercantile Exchange.


In currency markets, the dollar rose to 78.22 yen from Thursday's 78.21. The euro rose to $1.2983 from the previous day's close of $1.2975.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com