Asian stocks advance for the third day
Asian stocks advance for the third day Asian stocks advanced for the third consecutive day on speculation that the interest rates on US home sales slump, will see a further decline. The Japanese government registered three times jump in trade surplus in August 2007. Japan`s leading bank Mizuho Financial gained 2.9%, while another Japanese lender Sumitomo Mitsui Financial added 2.8%, on speculation the US Federal Reserve would lower interest rates further. Markets in Hong Kong and South Korea are closed today. Japan`s benchmark index Nikkei lost 1.77 points, or 0.01%, to trade at 16,399.96. China`s Shanghai Composite added 23.54 points, or 0.43%, to trade at 5,449.42. Taiwan`s index Taiex added 130.27 points, or 1.43%, to trade at 9,235.55. Singapore`s Straits Times climbed 12.46 points, or 0.34%, to trade at 3,637.28. (8.25 a.m, IST)
