Asian Markets Jan-6 2009 PM EST
Miners lead in Asia as metal prices jump
By Rosalind Mathieson, Dow Jones Newswires
Last update: 10:16 p.m. EST Jan. 6, 2009
SINGAPORE (Dow Jones)--Asian shares were higher Wednesday after another gain on Wall Street, with mining stocks powering ahead on a recovery in prices for base metals and gold.
Technology stocks were also faring well in Japan, Korea and Taiwan amid hopes for a rebound in prices for memory chips.
Analysts pointed to continued inflows of funds to stocks for the new year, even though they cautioned that strong economic headwinds remained; "there's been a lot of portfolio buying and asset allocation coming back into the market," said George Kanaan, head of sales in Sydney at UBS.
By Rosalind Mathieson, Dow Jones Newswires
Last update: 10:16 p.m. EST Jan. 6, 2009
SINGAPORE (Dow Jones)--Asian shares were higher Wednesday after another gain on Wall Street, with mining stocks powering ahead on a recovery in prices for base metals and gold.
Technology stocks were also faring well in Japan, Korea and Taiwan amid hopes for a rebound in prices for memory chips.
Analysts pointed to continued inflows of funds to stocks for the new year, even though they cautioned that strong economic headwinds remained; "there's been a lot of portfolio buying and asset allocation coming back into the market," said George Kanaan, head of sales in Sydney at UBS.
Comments