TOCKS NEWS ASIA-Shares Investing News
Asian shares are set to rise on Thursday, with financials such as Mizuho Financial Group 8411.T likely to get a lift after surprisingly strong results at U.S. bank Wells Fargo & Co WFC.N helped ease credit-market worries.
Wells Fargo, the fifth-largest U.S. bank and the No. 2 U.S. mortgage lender, also raised its dividend, allaying some concerns about the health of financial institutions and sparking a rally on Wall Street.
The three major U.S. indexes posted their biggest one-day percentage gains since April 1, while the KBW banking index .BKX jumped 17.3 percent in the biggest single-day rise since it was launched in May 1992.
Another sharp fall in oil prices CLc1 should brighten the outlook for company profits, though the fall in oil may hit energy firms such as Japan’s Inpex Holdings Inc 1605.T.
Asian stocks listed on Wall Street .BKAS gained 3.5 percent overnight, while the MSCI’s measure of Asia Pacific stocks excluding Japan .MSCIAPJ eased 0.3 percent on Wednesday.
Source: Yahoo.com.au
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