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TOKYO, Dec 5: Asian stocks were mostly higher on Wednesday, boosted by gains on Wall Street and hopes the semiconductor industry could recover sooner than had been expected.
Technology stocks were lifted by brokerage reports saying the worst was over for the semiconductor industry and news South Korea’s biggest chipmakers have increased their prices for the first time since the industry slump began.
On Tuesday, the tech-laden Nasdaq composite jumped 3.1 per cent to close at 1,963.10 while the Dow Jones industrials rose 1.3 per cent to 9,893.84.
Share prices in Tokyo closed 2.5 percent higher as investors returned to the hi-tech sector after the Nasdaq rallied.
The Nikkei-225 average of the Tokyo Stock Exchange gained 261.16 points to finish at 10,713.81.
HONG KONG: Hong Kong share prices rose 2.2 per cent on the back of gains on Wall Street and amid preparations by some institutional investors for year-end window dressing of their portfolios.
The key Hang Seng index gained 251.16 points to close at 11,678.44.
Marty Chan, an analyst with Polaris Securities, said the Hang Seng index was rising in tandem with the strong performance on Wall Street.
SYDNEY: The Australian share market was spurred 0.7 per cent higher by a quarter percentage point interest rate cut and resilient economic growth figures.
The All Ordinaries index rose 23.1 points to 3,286.3 while the SP/ASX 200 added 23.4 points to 3,347.8.
SINGAPORE: Share prices closed 3.6 per cent higher, lifted by a rally in US stocks.
The Straits Times Index finished 55.16 points up at 1,593.19 in the STI’s strongest closing since the September 11, attacks on the US although a late profit-taking bout took the index off its intraday high of 1,610.35 points, dealers said.
KUALA LUMPUR: Malaysian share prices closed 0.8 per cent higher following gains in US markets and in particular the technology sector.
The Kuala Lumpur Stock Exchange composite index rose 5.50 points to finish at 653.01.
Shares closed off their highs as late profit-taking in select blue chips offset early broad-based buying sparked by Wall Street’s gains, dealers said.
MUMBAI: Indian stocks closed 2.7 per cent higher on the Bombay Stock Exchange (BSE) following sustained purchases of software shares.
The benchmark-30 share BSE sensitive index rose 89.36 points to close at 3,409.64.
JAKARTA: Indonesian shares closed marginally higher, supported by gains in selected major stocks in a technical rebound.
The Jakarta Stock Exchange composite index ended up 0.385 points or 0.1 per cent at 377.942.
SHANGHAI: Shanghai B-shares closed 1.6 per cent lower as investors sold off loss-making counters following new delisting rules.
WELLINGTON: New Zealand stocks rose 1.0 per cent following a rally in US markets.
UBS Warburg broker Campbell Stuart said the local market was quite robust and active. The NZSE40 index closed up 21.28 at 2,049.34 on volume worth US$34.5m. —AFP
