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HONG KONG, Dec 9: Asian stocks closed mostly higher with modest gains Friday at the end of a patchy week, with India and Japan grabbing the lion’s share of the limelight, dealers said.
They said most investors remain sidelined ahead of a raft of economic data and a decision on interest rates due out of the United States next week which could determine whether the region will see a year end rally.
Tokyo leapt 1.45 per cent with investors shrugging off a downward revision of economic growth figures and moving in after a sharp fall on Thursday.
However, Sydney closed flat while Wellington slumped 1.47 per cent amid an ongoing sell-off sparked by another increase in interest rates.
TOKYO: Share prices closed 1.45 per cent higher, rebounding from the Thursday’s losses as investors shrugged off a downward revision to third-quarter economic growth estimates.
The Nikkei-225 index rose 220.69 points to 15,404.05.
“The Nikkei index opened lower in knee-jerk reaction to weaker-than-expected revised (growth) data,” said Hiroyuki Nakai, chief strategist at Tokai Tokyo Research Center.
HONG KONG: Share prices closed 0.21 per cent firmer on a technical rebound after Thursday’s sharp fall, with the gains capped by some year-end selling by institutional investors.
The Hang Seng Index closed up 31.35 points at 14,910.51. Turnover was 17.84 billion Hong Kong dollars (US$2.3 billion).
SYDNEY: Share prices closed little changed in lacklustre trade marked by late interest which took the market off its lows.
The S and P/ASX 200 index was up 2.1 points at 4,580.1. Turnover was 991.4 million shares worth 2.97 billion dollars (2.23 billion US).
The mining heavyweights were both ahead with BHP Billiton up 0.24 to 21.80 dollars and Rio Tinto adding 0.45 to 63.55.
SINGAPORE: Share prices closed 0.67 per cent higher on gains in blue chips linked to state investment firm Temasek Holdings.
The Straits Times Index rose 15.39 points to 2,321.1. Volume totalled 619 million shares worth 694 million Singapore dollars (413 million US).
KUALA LUMPUR: Share prices closed 0.24 per cent higher as last-minute buying on selected blue chips by local funds turned around an otherwise sluggish market.
JAKARTA: Share prices closed 0.15 per cent higher in volatile trade, with gains in Astra International, Telkom and mining stocks offsetting profit-taking in the major banks.
Car dealer Astra International rose 300 rupiah to 10,300.
WELLINGTON: Share prices fell 1.47 per cent after overnight losses on Wall Street amid concerns about how long interest rates will remain high after the latest hike earlier in the week.
The benchmark NZSX-50 gross index was down 46.68 points to 3,183.31 on light turnover of $70m (US$49.1m).
MUMBAI: Share prices surged 1.81 per cent to a fresh high on aggressive buying by foreign funds on expectations the economy will post eight per cent growth in the second half to March.—AFP
