NTDTV
Market Report – Rally in Asia
(NTDTV)
In today’s Market Report… Asian stocks pushed higher as investors continue to pour funds into the region.
South Korea’s benchmark KOSPI hit a one-year high. It gained 12 percent in July on the back of the greatest net foreign investor buying ever.
Japan’s Nikkei touched a 10-month peak, fuelled by upbeat corporate earnings reports.
Sony shares jumped more than 6 percent after it posted a smaller-than-expected loss the previous day. Game rival Nintendo declined on weaker quarterly profit.
Toyota shares rose after a TV station reported that Toyota’s loss for the year would be substantially below the $8.9 billion forecast, thanks to strong sales of hybrid cars.
Number two Japanese bank Mizuho Financial saw an unexpected quarterly loss of $47 million. It was hit by losses on its stock portfolio and credit default swaps.
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