The Associated Press, Tokyo | Thu, 09/02/2010 9:37 AM | Business
Asian stock markets advanced in early trading Thursday, after Wall Street soared on encouraging manufacturing data.
Japan's Nikkei 225 stock average jumped 1.2 percent to 9,027.88 as the dollar held its ground against the yen. Seoul's Kospi rose 0.4 percent to 1,771.73, and Australia's S&P/ASX 200 was up 0.8 percent to 4,532.20.
In New York on Wednesday, the Dow Jones industrial average added 255 points, its best day since July 7. The index finished up 2.5 percent to close at 10,269.47.
Reports of stronger-than-expected manufacturing growth in China and the U.S snapped a run of discouraging data on the global economy. The Institute for Supply Management said manufacturing activity in the U.S. rose in August, in contrast to regional reports from recent weeks that pointed to a slowdown.
Broader indexes also have large gains. The Standard & Poor's 500 index rose 30.96, or 3 percent, to 1,080.29, and the Nasdaq gained 62.81, or 3 percent, to 2,176.84.
In currencies, the dollar stood at 84.30 yen from 84.44 yen late Wednesday. The euro held steady at $1.2796.
Soruce: The Jakarta Post
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