Australian stocks lead Asian markets higher
Source: AP-Excite
By KELVIN CHAN
HONG KONG (AP) - Australia's stock market and currency jumped Thursday after encouraging economic data while gains in other Asian markets were more modest as investors waited for key policy meetings in Europe and a major U.S. job report.
Australia's S&P/ASX 200 rose 1.2 percent to 5,129.20 and the Australian dollar rose to its highest in more than three weeks after the government reported a surprise trade surplus in December. Economists had been expecting a deficit.
Economists at Societe Generale wrote in a report that the trade figures as well as "solid" growth in December retail sales indicate strong economic growth in the final quarter of 2013 for Australia, which has been contending with a cooling mining boom.
Elsewhere in Asia, Japan's benchmark Nikkei 225 index added 0.5 percent to 14,256.33. South Korea's Kospi climbed 0.8 percent to 1,906.81 and Hong Kong's Hang Seng advanced 0.5 percent to 21,377.72.
FULL story at link.
Read more: http://apnews.excite.com/article/20140206/DABPI4D00.html