Asian markets boosted by US earnings
A positive start to US corporate earnings season helped boost Asian stock markets today.
Major regional benchmarks rose on the heels of a handful of better-than-expected results that also lifted Wall Street.
Consumer products maker Helen of Troy, whose brands include Dr Scholl’s and Vidal Sassoon, reported a 15% profit increase.
Electronic payments processor Global Payments said its fiscal second-quarter earnings rose nearly 15%, beating Wall Street expectations.
After markets closed on Tuesday, Alcoa predicted rising demand for its aluminium this year and topped revenue expectations for the fourth quarter.
Earlier in the day, agricultural products giant Monsanto said its profit tripled and raised its guidance for 2013.
Japan’s Nikkei 225 index rose 0.9% to 10,677.74. Hong Kong’s Hang Seng gained 1% to 23,439.46. South Korea’s Kospi added 0.7% to 2,005.39 and Australia’s S&P/ASX 200 advanced 0.4% to 4,725.80.
The European Central Bank will meet later today to set monetary policy for the 17 countries that use the euro.
It is expected to keep its benchmark interest rate unchanged at the record low of 0.75% even though the eurozone economy as a whole is back in recession.
Investors are also awaiting the release in the US of weekly jobless claims.
