Global equities markets higher

Asia-Pacific region markets were up to end the week on Friday as gains in the technology sector on demand for consumer electronics raised hopes that a slowing US economy won’t hurt sales. Australia’s markets saw gains after seven consecutive days of declines. The Sydney Ordinaries added 1.03 percent to 6,309.4 while the S&P/ASX200 was up 1.13 percent to 6,247. In Taiwan, the Taiex was 1.07 percent higher to 7,941.44. The Shanghai Composite gained 1.15 percent to 5,101.78 while the Straits Times index was up 1.21 percent to 3,398.1 in Singapore. South Korea’s Kospi index added 1.84 percent to 1,878.32 while the Hang Seng gained 2.26 percent to 27,626.92 in Hong Kong. The Sensex was closed in observance of Bakri Eid, a Muslim and Druze holiday.

Tokyo’s markets also saw gains. The Nikkei 225 was up 1.5 percent to 15,257 and the Topix index added 0.8 percent to 1,469.2 while the Mothers market jumped 2.09 percent to 782.13. The semiconductors sector was up on a higher demand, while online retailers gained on broker upgrades in the sector. The electronics sector was also higher, but shippers were lower on the session. Japan’s markets will be closed Monday to celebrate the emperor’s birthday.

Markets in Europe were higher as well. The FTSE Eurofirst 300 was 1.39 percent higher to 1,507.22. In Madrid the IBEX added 0.98 percent to 15,289.3 while the Paris CAC-40 was up 1.66 percent to 5,602.77 and the Dax gained 1.7 percent to 8,002.67. Carmakers were higher on the session while utilities were mixed. There were few losers on the session.

In London, meanwhile, the FTSE 100 was up 1.39 percent and the FTSE 250 added 1.29 percent to 10,531.6. Miners were up on higher metals prices. The foods and beverages sector and the oil sector were both mostly higher. Banks were up with the single exception of Northern Rock (LSE: NRK), which led the losers on the 100.

At early afternoon in New York the Dow Jones Industrial Average was 1.24 percent higher to 13,409.92 while the Nasdaq Composite had added 1.34 percent to 2,676.18 and the S&P 500 was up 1.21 percent to 1,477.83. The gains came on a good profits report from the communications technology sector and on speculation that at least one major bank could get a cash boost from an Asian source. A Commerce Department report showed that while consumer spending was up in November, so was inflation. Some banks were higher, but some electronics retailers saw declines.

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