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HONG KONG, Sept 29: Asian stocks closed mostly sharply higher on Thursday, with several markets extending gains into record territory as investors showed no fear of rising oil prices or interest rates, dealers said.
They said there was some window-dressing for the end of the third quarter but underlying demand was strong in any case, with Seoul, Sydney and Mumbai all posting record performances once more while Tokyo picked up speed and looked set for 14,000 points.
Tokyo’s lead is especially positive for the region, with a return to steady growth in Japan helping to offset concerns about any slowdown in the US economy.
TOKYO: Japanese share prices closed 1.35 per cent higher, extending gains to a fresh four-year best as an upturn in commercial sales fuelled confidence in Japan’s economic recovery, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index rose 181.33 points to 13,617.24 on turnover of 3.55 billion shares.
The broader TOPIX index of all first-section shares gained 26.66 points or 1.90 per cent to 1,428.13.
The figures showed that a “positive cyclical flow between the corporate sector and the household sector is regaining momentum after it had weakened earlier this year due to active inventory adjustments in the IT sector, Mizuho Securities economist Osamu Katano said.
HONG KONG: Hong Kong share prices closed sharply higher, adding 1.38 Per cent on futures-related activity and some end-quarter window-dressing by fund managers, dealers said.
Turnover was heavy as institutional fund inflows increased due to upcoming large initial public offerings and fresh rumours of a further adjustment in the value of the Chinese yuan, they said.
The key Hang Seng Index closed up 209.79 points at 15,431.25, just fractionally off the high for the day, on turnover of 25.79 billion Hong Kong dollars (3.3 billion US dollars).
Sun Hung Kai Properties rose 0.40 to 80.50 and Cheung Kong was up 1.00 at 87.35. HSBC added 0.70 at 126.10.
SYDNEY: Australian share prices closed up 0.95 per cent at a another record high as investors snatched up resource stocks on overnight rises in oil and metal prices, dealers said.
The benchmark SP/ASX 200 rose 44.1 points to 4,671.7, while the broader All Ordinaries index jumped 42.2 points to 4,617.4.
Turnover was 1.19bn shares worth US$2.92 billion, with 577 stocks higher, 453 lower and 324 unchanged.
SINGAPORE: Singapore share prices closed 0.11 per cent lower on a lack of leads as investors waited to see third-quarter corporate results coming due next week, dealers said.
The Straits Times Index fell 2.55 points to 2,299.29 on volume of one billion shares worth 938 million Singapore dollars. Gainers beat losers 254 to 234 and 935 stocks were unchanged.
KUALA LUMPUR: Malaysian share prices closed flat, with most investors remaining cautious ahead of the federal budget announcement due Friday, dealers said.
The Kuala Lumpur Composite Index was down 0.27 points to 924.23. Losers led gainers 362 to 289, with 359 stocks unchanged and 311 untraded. Volume was 378.48 million shares worth 742.33 million ringgit (197 million dollars).
JAKARTA: Indonesian share prices closed 1.99 per cent higher as protests against a fuel price hike this Saturday proceeded peacefully, easing concerns the move could undercut political stability, dealers said.
The Jakarta Stock Exchange composite index rose 20.414 points at 1,048.302 on volume of 962.89 million shares worth 915.10 billion rupiah (88.88 million dollars.) Gainers led losers 100 to 26, with 51 stocks unchanged.
WELLINGTON: New Zealand share prices closed 0.13 per cent lower, slipping off the record high hit Wednesday, dealers said.
The benchmark NZSX-50 index lost 4.68 points to 3,444.73 on turnover of US$105 million. Of 151 stocks traded, 52 fell and 49 rose.
MUMBAI: Indian share prices rose 0.51 per cent for another record finish and to edge closer to the historic 9,000 points level, dealers said.
The 30-share Bombay Sensex index added 44.14 points to 8,650.17.—AFP
