Asian shares rose on last trading session, taking their cue from a jump in oil prices as well as gains on Wall Street after minutes of the Federal Reserve’s latest meeting led investors to further pare bets that the central bank will hike interest rates this year. Oil prices climbed to their highest in three months on Thursday, after forecaster PIRA Energy Group predicted crude prices would rise to $70 per barrel by the end of 2016. Crude oil futures extended overnight gains, with Brent adding 0.4 per cent to $53.28 a barrel, while U.S. crude was 0.5 per cent higher at $49.66.
The Fed minutes revealed the extent to which policymakers are concerned that a global economic slowdown might threaten the U.S. economic outlook. Though they said overseas turmoil had not “materially altered” economic prospects, they opted to hold interest rates steady last month. “When the dust settled the message for the market was that the FOMC was pretty confident on the robustness of the U.S. economy and saw room for 2015 lift-off, but no imperative to do so if fragility persisted,” Steven Englander, global head of currency strategy at Citi, said in a note. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7 per cent in early trading, on track for a robust weekly gain of 5.7 per cent.
E-House (China) Holdings Limited (ADR) (NYSE:EJ) operates as a real estate services company in the People’s Republic of China. The Company shares are trading 38.31% above their 52 week low price after the last close and -29.11% below the 52 week high. Its latest closing price was up +4.06% from the average-price of 200 days while it kept its distance from the SMA50 at +10.83% and +13.03% compared with the SMA 20.
Shares of E Commerce China Dangdang Inc (ADR) (NYSE:DANG) were 23.56% up 52 week lows as of the latest close and -48.88% below the 52 week high. Its latest closing price was down -16.26% from the average-price of 200 days while it maintained a distance from the SMA 50 at 8.36% and 13.24% compared with the SMA 20. E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the People’s Republic of China.
58.com Inc (ADR) (NYSE:WUBA) operates an online marketplace for local merchants and consumers in the People’s Republic of China. The stock’s latest price traded at 43.94% up 52 week lows after the closing bell and was -40.44% behind its 52 week high. Its latest closing price was -9.41% below the SMA200 while the distance from the SMA 50 and SMA 20 was 5.01% and 13.32% respectively.
Alibaba Group Holding Ltd (NYSE:BABA) is trading 18.36% higher than the 52 week low price and -43.58% behind the 52 week high. The stock’s latest closing price was -18.58% down from the average-price of 200 days while it kept its distance from the SMA50 at -1.05% and 8.30% compared with the SMA 20. Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally.