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TOKYO, Aug 11: Asian share markets were mostly higher on Monday as investors pinned their hopes on better economic conditions later in the year, driven by the United States.
Share prices in Tokyo closed 1.72 per cent higher on growing hopes for a Japanese economic recovery after the release Friday of stronger-than-expected private sector machinery order data.
The Tokyo Stock Exchange’s Nikkei 225 index added 160.27 points to end the day at 9,487.80. The broader Topix index of all first-section stocks advanced 11.05 points or 1.2 per cent to 928.52.
Gainers also outnumbered decliners by 1,029 to 360, a ratio of nearly three to one, 1,029 to 360, with 134 issues unchanged, although volume slowed to an estimated 795 million shares from 1.1 billion on Friday as Japan’s ‘Obon’ holiday period got underway.
The Cabinet Office announced on Friday private-sector machinery orders in June rose 2.4 per cent month-on-month, and increased 3.4 per cent in the three months to June from the previous quarter and were forecast to rise 2.2 per cent quarter-on-quarter in July-September.
HONG KONG: Share prices in Hong Kong closed 1.49 per cent higher on selective bargain hunting amid hopes of further cuts in US interest rates.
The key Hang Seng index gained 148.32 points to close at 10,093.54.
Dealers said the market was also higher on support from renewed interest in the China-related H shares and from property stocks which received modest boost from encouraging sales of residential flats at the weekend.
SINGAPORE: Share prices in Singapore closed 1.24 per cent higher on selected blue-chip buying spurred by recent positive corporate earnings reports.
The Straits Times Index finished up 19.05 points at 1,553.59 while the broader All Singapore Equities index closed at 420.74 points, up 3.69.
SEOUL: South Korean share prices closed fractionally higher as large-cap stocks received a boost from late futures-linked programme buying by institutions and foreign buying of futures contracts.
The composite index closed up 0.44 points or 0.06 per cent at 704.58.
The market opened lower as most large-cap stocks were affected by programme selling ahead of Thursday’s options expiry but reduced earlier losses on late programme buying.
KUALA LUMPUR: Malaysian share prices closed 0.64 per cent higher due to institutional buying in selected blue chips.
The Kuala Lumpur Stock Exchange composite index rose 4.62 points to finish at 726.83, off an intraday low of 720.04.
Dealers said the bourse reversed earlier losses to close higher on late gains in Malayan Banking, British American Tobacco Malaysia (BAT Malaysia) and other index-linked stocks.
MANILA: Philippine share prices closed 0.42 per cent higher on bargain-hunting of selected blue-chips.
The Philippine Stock Exchange composite index added 5.21 points to 1,238.00.
Dealers said market sentiment however remained shaky on political and security concerns after last month’s short-lived coup attempt against President Gloria Arroyo and escape of a top Jemaah Islamiyah bomber.
MUMBAI: Indian stocks closed 0.25 per cent higher Monday on sustained fund-based buying in old economy stocks.
The Bombay Stock Exchange’s 30-share index rose 9.65 points to close at 3,893.41.
BANGKOK: The Thai bourse jumped 1.99 per cent, breaching the 510-point barrier on hopes for an increased weighting by the Morgan Stanley Capital Index.
The Stock Exchange of Thailand composite index gained 9.99 points to 513.19 while the blue-chip SET 50 index added 0.64 points to 32.73.—AFP
