Market Report – Asia Shares Rise on U.S. Hopes

In today’s market report… Asian shares moved higher Thursday, taking heart from signs that U.S. manufacturing activity is on the rise.

Shanghai’s benchmark rose after the strong economic data from the U.S. and a bounce in Chinese auto demand.

Automakers such as Warren Buffett-backed BYD gained after mainland sales in August rose 59.3 percent, coming on the heels of sluggish sales in earlier months.

The upturn in China’s car market into September and October, usually the best auto sales season, and could help auto stocks–stocks that have generally been lower this year so far.

Elsewhere, Japanese shares rose again, despite a steady advance by the yen against the U.S. dollar. Exporters such as Honda and Sony gained on hopes of continued U.S. demand.

Foto: NTDTV