Asian Markets Modestly Higher - Nasdaq.com
By RTTNewsJanuary 8, 2018 | 10:45PMPhoto: Shutterstock
(RTTNews.com) - Asian stock markets are mostly higher on Tuesday despite the mixed lead overnight from Wall Street. However, gains are modest in most markets as investors digested tech giant Samsung Electronics' profit outlook for the fourth quarter and also focused on the ongoing talks between South Korea and North Korea, the first formal talk between the two Koreas in more than two years.
The Australian market is rising for a fifth straight day despite the mixed cues overnight from Wall Street. Miners and banks are among the leading gainers.
In late-morning trades, the benchmark S&P/ASX 200 Index is adding 14.30 points or 0.23 percent to 6,144.70, off a high of 6,148.30 earlier. The broader All Ordinaries Index is advancing 14.90 points or 0.24 percent to 6,251.40.
Rising iron ore prices lifted the mining sector. BHP Billiton and Fortescue Metals are advancing more than 1 percent each, while Rio Tinto is rising almost 2 percent.
In the banking sector, ANZ Banking, National Australia Bank, Westpac and Commonwealth Bank are higher in a range of 0.2 percent to 0.7 percent.
In the oil space, Woodside Petroleum is adding almost 1 percent and Oil Search is up 0.5 percent after crude oil prices rose overnight, while Santos is unchanged.
Meanwhile, gold miners are weak. Newcrest Mining is down 0.4 percent and Evolution Mining is unchanged.
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