Australia | Jan 30 2013
Download related file: afternoon_report_2013-01-30
The analyst principally responsible for the production of this research report is: Howard Humphreys, Director & Lead Research Analyst, Seismic Research
Japan leads Asia higher as Yahoo, Amazon rally
Ahead of the Federal Reserve’s policy meeting tonight, the Asian benchmark advanced to a 17-month high as Yahoo Japan Corp. led the Nikkei-225 1.2% up after increasing its profit forecast. Stocks also advanced after Amazon.com, the largest internet-based retailed, rallied as much as 12% in extended U.S. trading (after the official close) after reporting an increase in sales.
Elsewhere in Asia, South Korean stocks and copper advanced after the nation, a major commodity importer, posted an unexpected increase in industrial production for December.
Tonight, the U.S. will report fourth quarter economic growth and January jobs data, while the Fed will (hopefully) provide some clarity on its policy and economic outlook. According to a Bloomberg survey of economists, the Fed’s current bond purchasing programs will reach US$1.14 trillion before they end in the first quarter of 2014.
To read today's report in PDF in full, see link at the top of this story.
(For a more comprehensive summary of last night’s market action see FNArena’s Overnight Report.)
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