TOKYO, Oct 26: Asian stocks were mostly higher on Friday, bolstered by gains on Wall Street despite a slight fall on the region’s largest market in Tokyo.
Markets in India were closed for a public holiday.
Asian prices were underpinned by US gains Thursday, which saw the Dow Jones industrials close up 117.28 points or 1.3 per cent at 9,462.90 and the tech-heavy Nasdaq composite advance 43.93 points or 2.5 per cent to 1,775.47.
Tokyo stocks slipped back 0.8 per cent Friday on profit-taking as negative earnings reports from hi-tech firms added to dismal prospects for the US and Japanese economies.
The Nikkei 225 average of the Tokyo Stock Exchange closed down 84.94 points 10,795.16, giving up earlier gains.
Brokers said buying sentiment had run out of steam after the headline sentiment briefly topped the psychologically important 11,000-mark in the previous session while brokerage dealers squared off positions ahead of the weekend.
Sentiment was also dampened by a mid-afternoon announcement by Toshiba Corp. that it suffered a net loss of one billion dollars in the six months to September, due to the prolonged slump in the hi-tech industry.
Share prices were firm in the morning following overnight gains in New York although investors had been poised for a correction since yesterday, said Nomura Securities investment information manager Muneyuki Ichihara.
Then Toshiba’s announcement gave impetus to a downswing, he added.
HONG KONG: Share prices rose 1.6 per cent following gains on Wall Street.
The market was little affected by the recent weak economic data and mediocre earnings results out of the US, which has had the effect of increasing the likelihood of a further rate cut by the US Federal Reserve on November 6, they said.
The key Hang Seng index gained 161.28 points to close at 10,404.74.
The market was closed Thursday for a public holiday.
SYDNEY: The Australian share market closed 0.6 per cent higher after investor sentiment was buoyed by a rally on Wall Street.
The All Ordinaries index closed 20.7 points higher at 3,209.8 while the SP/ASX 200 rose 21.5 points to 3,276.2.
Johnson Taylor Potter senior trader Geoffrey Hill said that while stock prices were pushing higher, overall volumes still remained relatively thin.
SINGAPORE: Share prices closed marginally higher following Wall Street’s gains and selective buying in technology blue chips.
The Straits Times Index climbed 2.07 points to 1,411.25 while the broader All-Singapore Equities index was up 0.38 points at 376.17.
But it looks like we’re holding up above 1,400 points. Maybe this is just part of a consolidation process, he said, adding he saw limited upside to the market which may still test the 1,350-level.
KUALA LUMPUR: Malaysian stocks closed 0.4 per cent lower, led by institutional selling of blue chips.
The Kuala Lumpur Stock Exchange’s composite index fell 0.4pc or 2.70 points to 612.41.
There was some selling by funds in major blue chips such as Tenaga, Maybank and some others. Otherwise the market was dead quiet with shares moving within a tight band, said an institutional dealer.
Genting Bhd, however, continued to lure buying interest following reports of it’s bid for Macau casino concessions.
JAKARTA: Indonesian share prices closed 0.7 per cent lower on continuing disappointment over the government’s decision to delay its put option to sell cement maker Semen Gresik to Mexico-based Cemex AS.
The Jakarta Stock Exchange composite index ended down 2.613 points at 387.822.
WELLINGTON: New Zealand shares showed a return of confidence, climbing 0.4 per cent, dealers said.
The benchmark NZSE40 ended up 8.09 points at 1,935.33.
Market bellwether Telecom led the charge, up six cents at $4.41.—AFP
