NEW YORK Jan 14 U.S.-listed shares of foreign
companies edged higher on Monday, led by gains in Japanese
exporters as investors counted on Japan's central bank to
deliver bold stimulus to boost the economy.
Although the Japanese stock market was closed for a national
holiday, U.S.-listed shares of Japanese companies rose following
comments from Japan's Prime Minister Shinzo Abe on Sunday.
He said the Bank of Japan (BOJ) must set a 2 percent
inflation target and make it a medium-term, not long-term, goal
to show markets it was determined to pursue bold monetary easing
to end nearly two decades of deflation.
Investors viewed this as putting pressure on the central
bank to further ease Japan's monetary policy, and a push for a
new BOJ governor. Fiscal stimulus is a major negative for the
yen, which is good for Japanese companies selling products
U.S.-listed shares of Honda Motor rose 0.8 percent
to $38.48. Toyota Motor rose 0.7 percent to $96.80.
Chinese stocks also got a boost as investors continued to
cheer stronger-than-expected Chinese trade data last week that
showed exports rose 14 percent in December year-on-year, far
above expectations of 4 percent. That raised
investor hopes that demand from the United States and Europe
will support China's economic recovery this year.
U.S.-listed shares of China Telecom jumped 1.8
percent to $56.63.
The BNY Mellon index of leading American depositary receipts
rose 0.1 percent. The Standard & Poor's 500 index
ended 0.1 percent lower.
The BNY Mellon index of leading Asian ADRs rose 0.4
percent, while the BNY Mellon index of leading European ADRs
fell 0.1 percent.
The BNY Mellon index of leading Latin American ADRs
rose 0.5 percent.