Wednesday, 23 July, 2014

Published July 17, 2014
Asian shares mostly higher after Wall St rally


[HONG KONG] Asian shares were mostly higher Thursday after the Dow on Wall Street ticked up another record high in response to strong earnings and a positive outlook on the US economy by the Federal Reserve.

Tokyo rose 0.36 per cent, Hong Kong gained 0.13 per cent, Sydney added 0.50 per cent to sit near a six-year high and Seoul put on 0.44 per cent but Shanghai eased 0.60 per cent.

The mood remained largely buoyant after China said on Wednesday that the world's number two economy and key driver of global growth expanded more than expected in the second quarter of the year.

US shares resumed their uptrend on Wednesday as traders welcomed a report from the Fed that said all 12 economic regions of the country continued to expand in the six weeks to July 7.