HONG KONG, Dec 1: Asian stocks closed mixed on Thursday with the lacklustre performance overshadowed by a booming close in Tokyo where the benchmark finished above 15,000 points for the first time in five years. Tokyo’s 1.74 per cent leap was fueled by a wave of optimism that it’s economy has turned the corner after a decade in the doldrums with deflation seen turning to inflation in the near term.
The Nikkei also lent support to Hong Kong and Singapore as Mumbai joined the buying spree and rose 1.77 per cent on the back of strong economic growth. Seoul also bucked the trend by rising 0.66 per cent to a record finish.
TOKYO: Share prices jumped 1.74 per cent to close above 15,000 points for the first time in almost five years Thursday on a wave of optimism about the outlook for Japan’s economy.
Dealers said that with deflation expected to finally give way to mild inflation in the coming months, investors are betting on a new economic dawn in the land of the rising sun after a slump stretching back over a decade.
The Nikkei-225 index rose 258.35 points to 15,130.50 as the market moved ahead sharply in the afternoon session.
Fuji Electric Holdings closed up 30 yen to 585, Canon gained 150 yen to 6,860 and Hitachi Kokusai Electric closed up 33 yen to 1,285.
HONG KONG: Share prices closed 0.88 per cent higher after Tokyo finished at five-year highs, raising hopes of fresh fund inflows into Asia’s major markets including Hong Kong.
Property stocks rose with Cheung Kong gaining 0.80 at 81.50, Hutchison Whampoa up 1.25 to 74.85 and Sun Hung Kai Properties up 0.60 at 74.50. Link REIT closed up 0.75 at 12.80.
SYDNEY: Share prices closed sharply lower, falling 1.18 per cent on concerns that market valuations have become stretched after a string of near-record finishes.
The SP/ASX 200 index lost 54.7 points at 4,580.1. A total of 1.49 million shares worth 4.69 billion dollars (3.47 billion US) changed hands. Among other stocks, BHP Billiton dropped 0.37 to 21.50 while Rio Tinto lost 1.36 or 2.2 per cent to 60.40.
SINGAPORE: Share prices closed 0.47 per cent higher lifted by gains in blue chip and technology stocks as the region partially picked up on Tokyo’s lead.
In Singapore, Venture Corp gained 10 cents to 13.80, Chartered Semiconductor added three cents to 1.27, STATS ChipPAC edged up two cents to 1.13 and UTAC was up 1.5 cents to 71.5 cents.
KUALA LUMPUR: Share prices closed 0.93 per cent lower on concerns the central bank could hike rates again after the increase Wednesday following strong third quarter growth figures.
JAKARTA: Share prices closed flat with investors locking in profits in Telkom and Perusahaan Gas Negara and after the release of higher-than-expected November inflation data.
WELLINGTON: Share prices closed 0.78 per cent lower, tracking declines in overseas markets in heavy trade.
The NZSX-50 gross index fell 25.52 points to 3,292.25 on turnover of 220.7 million dollars (155.4 million US).
MUMBAI: Share prices closed 1.77 per cent higher with investors buoyed by surging economic growth of eight per cent during the second quarter ended September 30. The 30-share Sensex climbed 155.97 points to 8,944.78. Volumes touched Rs31.64 billion ($687m).—Reuters
