Asian markets edge higher after weak US retail data weigh on Wall Street
Shares were moderately higher in Asia on Wednesday after US stocks drifted to a mixed finish following a discouraging report on how much money US retailers made during the holidays.
US futures edged higher and prices of gold, silver and oil also advanced.
Markets were closed in Japan for a holiday.
Chinese markets crept higher, with the Hang Seng in Hong Kong up 0.3% at 27,265.52. The Shanghai Composite index added 0.3% to 4,139.56.
In South Korea, the Kospi extended its gains, risig to 5,346.34.
Australia's S&P/ASX 200 climbed 1.5% to 8,999.20, while Taiwan's Taiex jumped 1.7%.
On Tuesday, stocks drifted on Wall Street following a mixed set of profit reports from big US companies. Hopes rose that the Federal Reserve will cut interest rates later this year to boost the economy following a discouraging report on US shoppers' appetite for spending.
"Fresh data points to softening US consumer momentum since last December as wage growth cools and household credit stress builds," ...