RTTNews - Strong opens are expected Tuesday for the New Zealand and Australia markets, following Wall Street's solid gains overnight. U.S. stocks rose, as did commodity prices.
New Zealand's sharemarket closed modestly higher to open the week.
The benchmark NZX-50 index advanced 12.7 points or 0.5 percent at 2,820.9.
Trading volume was reported by the New Zealand Stock Exchange at 25.1 million shares valued at NZ$59.2 million.
Among the session's most actively traded stocks, Auckland International Airport was up NZ$0.01, Fletcher Building was down .01, Fisher & Paykel Appliances was down .02, Ryman Healthcare was down a penny, SkyCity Entertainment was up .08 and Telecom Corp of NZ was up two cents.
Among the dual-listed issues, Westpac Bank was down .02, Telstra advanced .07, Lion Nathan was up a penny, Goodman was up 2.5 cents, APN News & Media was up two cents, AMP gained .04 and Australia and NZ Banking Group was up .11.
Across the Tasman, Australia's market likewise opened the week with a gain, helped by strong performances in the resources sector.
The benchmark S&P/ASX200 Index advanced 49.5 points or 1.2 percent to 4,050.3 while the broader All Ordinaries index was up 51.3 points or 1.3 percent to 4.044.2.
Among the 200 stocks on the S&P/ASX 200, there were 139 closing higher, 44 were lower and 17 were unchanged.
The mining stocks were broadly stronger. Global leader BHP Billiton was up A$0.80 while rival Rio Tinto gained .92, Fortescue Metals jumped .96 or 9.2 percent, OZ Minerals was up .06 or nearly 7 percent.
In the energy sector, Woodside Petroleum gained .40, Santos Oil was up .36 and Oil Search added .19.
For the coal miners, Centennial Coal advanced two cents, Felix Resources was up .48 and Macarthur Coal was up .42 or 5.7 percent.
Among the gold mining companies, Newmont Gold was up .04, Newcrest Mining was up .29 and Lihir Gold was up .03.
In the banking sector, Australia and NZ Banking Group was up .11, Commonwealth Bank added .41, National Australia was up .09 and Westpac was down .02.
In overseas trading, U.S. stocks were higher, buoyed by financing plans for CIT Group. About 10 minutes before the closing bell on Wall Street, the Dow Jones Industrial Average was up 99.45 points or 1.14 percent at 8,843.39, the Nasdaq Composite index was up 17.66 points or 0.94 percent and the Standard & Poor's 500 index was higher by 9.50 points or 1.01 percent at 949.88.
All of the active major Asia/Pacific markets closed higher on Monday.
Japan's Nikkei 225 Average gained 51.16 points or 0.55 percent to finish at 9,395.32.
In Hong Kong, the Hang Seng index was up 696.71 points or 3.70 percent to 19,502.37.
China's Shanghai Composite index added 77.18 points or 2.42 percent to 3,266.92.
The BSE 30 index in India rose 446.09 points or 3.03 percent to 15,191.01.
The KOSPI/Seoul Composite index advanced 38.41 points or 2.67 percent to 1,478.51.
The Taiwan Weighted Index was up 87.87 points or 1.28 percent to 6,938.86.
Indonesia's markets were closed on Monday.
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