Asian stock markets still below the positive sign, after yesterday's wave of optimism caused by the American agreement on the "fiscal cliff". In the morning, the regional stock index reached its 17-month high following the news of positive data on the US manufacturing front. New positive news from the United States, therefore, which fuels confidence in the outlook for economic growth in the American country.
Rio Tinto, the world's second largest mining group, rose 1,7% in Sydney as metal prices rose. Australia's Aquarius Platinum even jumped 16%, making the biggest increase in four years, on news that South African platinum supply will decline in the first quarter of the year. Samsung Electronics, on the other hand, fell by 1,3% in Seoul after being sued by InterDigital Inc for yet another patent infringement on a technology linked to the standards of the latest mobile phone models.
More broadly, the MSCI Asia Pacific Excluding Japan index jumped 0,1% to 476.55 as of 11:29 am Sydney, on a day when the Chinese and Japanese markets were closed for holidays and at a time when the Hong Kong market was not open yet. Australia's S&P/ASX 200 was up 0,5% as was New Zealand's NZX 50. South Korea's Kospi was down, dragged down by Samsung's poor performance.
“We expect growth to accelerate in 2013 – comments Gerard Minack, global strategist at Morgan Stanley in Sydney – The Asian recovery does not depend so closely on the decisions of policy makers and structural headwinds. Equities are at low levels compared to the last thirty years”.
