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Asian shares, commodities rise as Dow record bolsters

Published on Mar 6, 2013 12:43 PM
 

TOKYO (REUTERS) - Asian shares extended gains on Wednesday as Wall Street's record close encouraged investors to take on more risk amid signs of a continuing US economic recovery and globally accommodative monetary conditions.

The dollar eased 0.2 per cent against a basket of key currencies while copper and crude oil prices rose as did commodity-linked currencies, often linked to risk appetite. The Australian dollar rose 0.2 per cent to US$1.0291 (S$1.28), above an eight-month low of US$1.0116 plumbed on Monday.

The MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.9 per cent, adding to Tuesday's 1.3 per cent surge. The index tumbled to a nine-week low on Monday.

Asian shares took their cue from overnight gains in global equities, with the Dow Jones industrial average ending at an all-time high and the pan-European FTSEurofirst 300 index closing at its highest in 4-1/2 years.

 
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