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11.08.2015 06:13 Global Stocks: Asian indices traded mixed amid news from China

U.S. stock indices advanced on Monday supported by deals in the industrial sector. Berkshire Hathaway Inc. announced it would buy Precision Castparts Corp. for approximately $32 billion. The company's shares jumped 19% making it the biggest gainer in the S&P 500. The announcement spurred the broader industrial sector, which gained 1.9%.

The Dow Jones Industrial Average rose 241.79 points, or 1.4%, 17615.17. The S&P 500 added 26.61 points, or 1.3%, to 2104.18. The Nasdaq Composite advanced 58.25 points, or 1.2%, to 5101.80.

Federal Reserve Vice Chairman Stanley Fischer said on Monday that the labor market improved and got close to full employment. At the same time he noted that inflation remained weak.

This morning in Asia Hong Kong Hang Seng rose 0.96%, or 234.39 points, to 24,755.51. China Shanghai Composite Index fell 0.40%, or 15.56 points, to 3,912.86. The Nikkei fell 0.60%, or 124.65 points, to 20,684.04.

Asian stocks traded mixed on surprising yuan's depreciation of nearly 2% against the U.S. dollar after the People's Bank of China announced changes to the way it sets daily midpoints for the national currency. These midpoints used to be completely controlled by the central bank, however from now on they will be based on the previous day's closing price.



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