Market Report - Asia Gains on Tech Shares

Asia stocks rose on Friday, with the tech sector boosted by strong earnings from U.S. software giant Oracle.

Japan's Nikkei rose 1.5 percent, (15,257) but the index had lost ground over the course of the week.

But analysts said credit jitters barred larger gains. Concerns about losses at major U.S. banks kept investors from wading into risker assets.

China-related shares were firm despite an earlier than expected rate rise by the nation's central bank after the market shut on Thursday.

Inflation has recently tapped 11-year highs in China, driven largely by higher food costs.

Korean shares ended the week on a high note, up 1.8 percent. Investors were motivated by hopes that the pro-business president-elect will speed up sales of state-run assets and revitalize the nation's economy.

Christmas holidays in the coming week means trading volumes are likely to be thin, with most major markets shut on Christmas day. Japan markets will be shut on Monday for the Emperor's birthday.

Category:

News & Politics

Tags:

• ntd
• ntdtv
• News
• Market
• Report
• Asia
• Gains
• Tech
• Shares
• U.S.
• software
• Oracle
• banks
• China
• Inflation
• Japan
• Christmas

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