Asian stocks rebound after Portuguese bank scare - DC News FOX 5 DC WTTG

Asian stocks rebound after Portuguese bank scare

Posted: Updated:
By JOE McDONALD
AP Business Writer

BEIJING (AP) - Asian stocks rebounded Monday from jitters about a struggling Portuguese bank as investors looked ahead to a busy week of data releases in the U.S., China and Europe.

Oil edged up to stay above $100 after tumbling more than $2 last week amid expectations more Libyan crude will soon hit markets.

Tokyo's Nikkei 225 gained 0.4 percent to 15,219.59 and Hong Kong's Hang Seng added 0.4 percent to 23,326.78. Seoul, Taiwan and Sydney also rose.

Traders regained confidence following concern about the soundness of Portugal's Espirito Santo International, which reportedly missed a debt payment last week, echoing issues that spawned Europe's debt crisis. Investors appeared to have been reassured any problems would be contained.

"Concerns about a widespread spill-over across Europe eased," said Mizuho Bank in a report. "Sentiment improved across the board."

China's Shanghai Composite Index was flat at 2,047.98.

Investors were looking ahead to announcements Tuesday about monetary policy in Australia and Japan and European inflation. U.S. Federal Reserve Chairwoman Janet Yellen is due to testify before a congressional committee.

On Wednesday, China is due to report quarterly economic growth. The country's top economic official, Premier Li Keqiang, said last week performance improved compared with the first quarter, when growth tumbled to 7.4 percent, but gave no details.

Seoul's Kospi gained 0.5 percent to 1,998.32 and Taiwan's Taiex added 0.5 percent to 9,545.99. Sydney's S&P ASX 200 rose 0.4 percent to 5,511.70. New Zealand also gained.

Last week, Germany's DAX and Britain's FTSE 100 ended 0.1 percent higher while France's CAC-40 gained 0.4 percent.

On Wall Street, the Dow Jones industrial average and the broader Standard & Poor's 500 both gained 0.2 percent. The Nasdaq composite was up 0.4 percent.

Benchmark U.S. crude for August delivery gained 1 cent to $100.84 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $2.10 to close at $100.83 in the previous session on expectations of higher supplies and muted global demand.

In currency markets, the dollar rose to 101.37 yen from 101.32 yen late Friday. The euro fell to $1.3603 from $1.3608.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Viral StoriesMore>>

  • New app helps teens calm anxiety

    New app helps teens calm anxiety

    Monday, July 28 2014 11:46 AM EDT2014-07-28 15:46:49 GMT
    Anxiety disorders affect one in eight teens. There are medications and therapies that can help alleviate symptoms, and now there’s even an app that can help. The MindShift app aims to teach young adults how to combat everyday anxiety, panic, conflict and worry. Teens can input their symptoms and the app will create a plan to help reduce stress. Created by two non-profit organizations, Anxiety BC and BC Mental Health and Addiction Services, the Mindshift app gives users the ability to ...
    Anxiety disorders affect one in eight teens. There are medications and therapies that can help alleviate symptoms, and now there’s even an app that can help. The MindShift app aims to teach young adults how to combat everyday anxiety, panic, conflict and worry. Teens can input their symptoms and the app will create a plan to help reduce stress. Created by two non-profit organizations, Anxiety BC and BC Mental Health and Addiction Services, the Mindshift app gives users the ability to ...
  • Toddler crashes Jeep, runs home to watch cartoons

    Toddler crashes Jeep, runs home to watch cartoons

    Monday, July 28 2014 9:07 AM EDT2014-07-28 13:07:54 GMT
    MYRTLE CREEK, Ore. (AP) -- Police say a toddler crashed a Jeep into an Oregon home, then ran back to his home to watch cartoons. Authorities say the 3-year-old boy who was wearing only a diaper climbed into the Jeep Tuesday evening and knocked it out of gear. Witnesses say it rolled down the street, through an intersection and into the house, causing minor damage. KPTV reports (http://bit.ly/1rhWlK6 ) an officer found the boy on a couch watching TV as if nothing had happened. He said his par...
    MYRTLE CREEK, Ore. (AP) -- Police say a toddler crashed a Jeep into an Oregon home, then ran back to his home to watch cartoons. Authorities say the 3-year-old boy who was wearing only a diaper climbed into the Jeep Tuesday evening and knocked it out of gear. Witnesses say it rolled down the street, through an intersection and into the house, causing minor damage. KPTV reports (http://bit.ly/1rhWlK6 ) an officer found the boy on a couch watching TV as if nothing had happened. He said his par...
  • Former contractor says she was attacked by rats at DC's Providence Hospital

    Former contractor says she was attacked by rats at DC's Providence Hospital

    Friday, July 25 2014 11:03 AM EDT2014-07-25 15:03:00 GMT
    It is an odd and very disturbing story. A hospital contractor in Northeast D.C. was attacked by rats on the job and they are the same rats she says are eating bodies in the morgue.
    It is an odd and very disturbing story. A hospital contractor in Northeast D.C. was attacked by rats on the job and they are the same rats she says are eating bodies in the morgue.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices