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Gold futures rebounded from early weakness and posted a sixth straight winning session on Wednesday after an unexpected drop in February durable-goods orders.
Gold for April delivery GCJ5, +0.16% rose $5.60, or 0.5%, to close at $1,197 an ounce on Comex after tapping an intraday high of $1,199.30. The close was the highest since March 4.
Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, -1.25% ) down 1.3%
Hong Kong (Hang Seng Index HSI, +0.14% ) up 0.1%
Shanghai (Shanghai Composite Index SHCOMP, +0.33% ) up 0.3% (at break)
Sydney (S&P/ASX 200 XJO, -1.20% ) down 1.1%
Seoul (Kospi SEU, -0.65% ) down 0.5%
Mumbai (Sensex 1, -0.71% ) down 0.6%
Taipei (Taiex Y9999, -0.70% ) down 0.7%
Asian markets wound back on Thursday, in line with a hefty sell-off on Wall Street, after surprisingly weak US data hinted at ongoing weakness in the world's number one economy.
The euro maintained its recent strength against the dollar and yen, boosted by receding expectations of an early US rate hike and upbeat indicators out of the eurozone.
Oil prices also enjoyed support from concerns about unrest in the crude-rich Middle East following news that Saudi Arabian jets had struck rebel positions in neighbouring Yemen.
In early trade Tokyo sank 1.56 per cent from a 15-year high, while Sydney lost 1.30 per cent, Seoul shed 0.74 per cent, Hong Kong shed 0.30 per cent and Shanghai slipped 0.55 per cent.
MALAYSIA share prices opened higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.64 points to 1,819.74
Volume was about 62 million lots worth RM21 million.
Losers outnumbered gainers 104 to 83.
The FBM KLCI index gained 5.06 points or 0.28% on Wednesday. The Finance Index increased 0.48% to 16080.99 points, the Properties Index dropped 0.76% to 1302.55 points and the Plantation Index rose 0.16% to 7807.83 points. The market traded within a range of 11.01 points between an intra-day high of 1823.19 and a low of 1812.18 during the session.
Actively traded stocks include ASIABIO, GENETEC, PRIVA, MPAY, MQTECH, AWC, WINTONI, KRONO, KNM and CLIQ-WA. Trading volume increased to 2039.22 mil shares worth RM2122.13 mil as compared to Tuesday’s 1945.73 mil shares worth RM1833.91 mil.
The KLCI extended yesterday’s gains by ending 5.06 points higher at 1819.10, despite overnight losses in US markets as the US dollar rose after U.S. consumer prices rebounded in February coupled with growth in its manufacturing sector. The gain in our benchmark index was underpinned by buying in heavyweight counters, led by IHH Healthcare, Maybank and Sapura Kencana.
