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HONG KONG, March 28: Asian stocks closed mostly higher on Tuesday in cautious trade ahead of a monetary policy meeting of the US Federal Reserve Open Market Committee, dealers said. They said the Fed is widely expected to raise key lending rates by a further quarter point to 4.75 per cent, and investors will then focus on the central bank’s accompanying statement.
Most will be watching closely for hints on whether further rate hikes are on the cards, or whether the recent signs of a slowdown in the US housing market were making rate-setters cautious.
TOKYO: Share prices closed mixed with the main Nikkei index edging up to a new seven-week high in cautious trade ahead of a US interest rate decision.
The Nikkei has risen for three straight trading days as investors bet on a solid annual corporate earnings season as the economy rebounds.
The Nikkei-225 index climbed 40.14 points or 0.24 per cent to 16,690.24, hitting the highest closing level since February 7 for a second straight day, on volume of 1.66 billion shares from 1.60 billion on Monday.
Mitsubishi Materials jumped 42 yen to 628.
HONG KONG: Share prices closed 0.26 per cent higher as market heavyweight China Mobile posted strong gains but trade was cautious ahead of the US Federal Reserve’s decision on interest rates later in the day.
Cheung Kong was up 1.15 at 83.40.
SYDNEY: Share prices closed flat, holding in near-record territory as strength in the resources sector offset weakness from telecoms giant Telstra and the major banks.
After getting as high as 5,104 points today it (the market) does show some high levels of optimism amongst the wider market, CMC Markets equities analyst David Land said.
SINGAPORE: Share prices closed 0.37 per cent higher led by gains in property stocks which were driven by higher property prices.
KUALA LUMPUR: Share prices closed 0.47 per cent higher in active trade led by aviation and construction stocks.
JAKARTA: Share prices closed 1.01 per cent higher in active trade led by index heavyweights Astra International and Telkom.
WELLINGTON: Share prices rose 1.01 per cent for another record finish, with the market still buoyed by a weak local currency.
ABN Amro Craigs broker Matt Willis said the weak New Zealand dollar continued to boost export-related stocks and buoy the broader market.
MUMBAI: Share prices edged higher to close at a new record with volatile trading seen at upper levels ahead of a US Federal Reserve decision on interest rates later in the day.
The 30-share Sensex index rose 7.01 points or 0.06 per cent to 11,086.03, beating the previous record close set a day earlier of 11,079.02.—AFP
