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Energy companies and those relying heavily on international sales are expected to be the biggest drag on earnings this coming season as the S&P 500 Index is forecast to see its year-over-year quarterly earnings decline for the first time in nearly six years.
The S&P 500 SPX, +0.90% rising 2.7%, and the Nasdaq Composite Index COMP, +0.68% gaining 3.2%. The weekly gains on the Dow and the S&P 500 put them back in the black for the year.
Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, +1.08% ) up 1.1%
Hong Kong (Hang Seng Index HSI, +0.56% ) up 0.6%
Shanghai (Shanghai Composite Index SHCOMP, +1.63% ) up 1.6% (at break)
Sydney (S&P/ASX 200 XJO, +0.04% ) flat
Seoul (Kospi SEU, +0.22% ) up 0.1%
Mumbai (Sensex 1, +0.33% ) up 0.3%
Taipei (Taiex Y9999, +0.21% ) up 0.2%
Asian markets mostly advanced Monday following rallies on Wall Street and in Europe, while the dollar continued to struggle after the Federal Reserve dampened expectations for an early interest rate hike.
Tokyo rose 0.83 per cent, Hong Kong gained 0.37 per cent, Seoul added 0.10 per cent and Shanghai was up 0.63 per cent, marking a ninth successive rise. Sydney eased 0.34 per cent.
With few catalysts to drive business early in the week investors took their lead from their US counterparts, who have been cheered by the Fed's dovish comments on rates.
MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 5.09points to 1,798.56
Volume was about 142 million lots worth RM64 million.
Gainers outnumbered losers 156 to 100.
dollar finished the week about 1.5% lower against the euro Friday, snapping three weeks of gains.
The euro EURUSD, +1.50% traded at $1.0821, compared with $1.0668 Thursday.
The ICE U.S. Dollar Index DXY, -1.28% a measure of the dollar’s strength against six rival currencies, finished the week down 2.4% at 97.6000.
