Investing.com - Tokyo headed for its fourth straight week of gains on Friday ahead of economic growth data next week, while in China, investors had one trading session to go Friday before the start of the new trading program linking stock markets in Hong Kong and Shanghai.
The Nikkei 225 gained 3.2% for the week so far after reports the government might call snap elections in December, with the goal of putting off next year's planned consumption tax hike.
Ahead of the Hong Kong-Shanghai Stock Connect Program's launch on Monday, the Hang Seng Index and Shanghai Composite Index accumulated gains of 2.0% and 2.8%, respectively, week to date. Shares in both markets have risen, as investors expect Chinese stocks to attract fresh capital from foreign investors and as prices on the two markets for dual-listed firms converge.
Overnight, bnetter-than-expected earnings from U.S. retail giant Wal-Mart Stores Inc (NYSE:WMT) offset falling energy stocks and sent U.S. equities indices rising on Thursday.
At the close of U.S. trading, the Dow 30 rise 0.23%, the S&P 500 index rise 0.05%, while the NASDAQ Composite index rose 0.11%.
Wal-Mart reported earnings per share of $1.15, or $3.71 billion, and revenue at $119 billion, both figures topping analyst expectations of around $118.4 billion and $1.12, respectively, which drew applause on Wall Street.
The earnings, which fueled hopes for more sustained U.S. recovery, offset slumping energy stocks, the product of falling oil prices.
On Friday, expect markets to move on U.S. retail sales data and the Thomson Reuters/University of Michigan consumer sentiment index.
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Tokyo shares on track for fourth straight weekly gain, polls eyed
Published 11/13/2014, 08:43 PM
Updated 11/13/2014, 08:45 PM
Tokyo shares on track for fourth straight weekly gain, polls eyed
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