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Asian shares mixed with China higher on prospects of easier policy

Published 02/12/2015, 11:21 PM
Updated 02/12/2015, 11:23 PM
Asian shares mixed
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Investing.com - Asian shares were mixed on Friday with China gaining on prospects for easier policy, but Tokyo down on a stronger yen.

The Hang Seng index rose 0.90% while the Shanghai Composite index jumped 1.57% and the Nikkei 225 fell 0.61%.

Ahead of the Chinese New Year next week speculation is growing that Beijing may move to ease liquidity further and push more domestic demand.

Elsewhere, a notch down in geopolitical tensions was welcome.

Russian President Vladimir Putin confirmed that a cease fire deal with Ukraine starting February 15 had been reached, following months of violence.

The leaders of France and Germany helped broker the deal after nearly 12 hours of all-night peace talks.

Market sentiment remained subdued after talks between Greece and European Union officials ended without an agreement, though both sides said there was still hope for a deal. Further talks are due to be held next Monday.

Greece’s current bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.

Athens has proposed an overhaul of 30% of its massive bailout deal, replacing it with a 10 point plan of economic reforms.

However, Greece’s creditors in the EU are insisting that the country must stick to the terms of the original bailout agreement.

Overnight, U.S. stocks were higher after the close on Thursday, as gains in the Basic Materials, Technology and Oil & Gas sectors led shares higher. At the close in New York, the Dow Jones Industrial Average rose 0.62%, while the S&P 500 index gained 0.96%, and the NASDAQ Composite index added 1.18%.

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