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Asian shares push higher

Tuesday, July 22 08:10:12

Asian stocks touched a three-year peak on Tuesday, despite lingering concerns about crises in Ukraine and Gaza, while the yen eased against the dollar and the euro.

Financial spreadbetter Capital Spreads expected Britain's FTSE 100 to open 23 points higher, Germany's DAX to open 29 points higher and France's CAC 40 to open 14 points higher, or all up 0.3 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan rose about 0.7 percent to its highest since 2011, while Hong Kong's benchmark index reached its highest level in more than seven months as recent fund inflows pushed up the territory's blue-chip stocks.

Japan's Nikkei stock average ended up 0.8 percent after a national holiday closed markets on Monday.

The CBOE Volatility Index, which is a gauge of market risk aversion, jumped 32.2 percent on Friday in Asia, the biggest percentage rise since April 2013.

U.S. shares slumped overnight, as the rising global tension offset some upbeat U.S. earnings. So far this reporting period, 66 percent of S&P 500 companies have topped Wall Street's profit expectations, according to Thomson Reuters data, above the 63 percent average since 1994. (Reuters)

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