Asian stocks rise

Asian stocks rose Wednesday after a post-US election rally drove the Dow Jones industrial average to a new high.

Sydney`s S&P-ASX 200 rose 1.0 per cent to 5,465.50 and Seoul`s Kospi added 0.5 per cent to 1,992.55. Hong Kong`s Hang Seng advanced 0.5 per cent.

The Shanghai Composite Index gained 0.1 per cent to 3,250.43. Benchmarks in New Zealand, Taiwan and Singapore also rose, while Indonesia declined.

Japanese markets were closed for a holiday.

The Dow surpassed 19,000 for the first time. Retailers soared after strong earnings from Dollar Tree and Burlington Stores. The Dow has closed at a record high six times in the two weeks since the presidential election, but trading volume has fallen.

The dollar held steady at 111.07 yen and the euro was little-changed at $1.0626.

Benchmark US crude gained 2 cents to $48.05 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 21 cents on Tuesday to close at $48.03.

Brent crude, used to price international oils, shed 2 cents to $49.10 in London. The contract added 22 cents the previous session to $49.12, according to a news agency report.