May 4, 2006	Thursday	Rabi-us-Sani 5, 1427

HONG KONG, May 3: Asian stocks closed mostly higher on Wednesday with gains on Wall Street underpinning buying which resulted in Singapore, Mumbai and Jakarta ending the day at fresh record highs.

Bright regional economic prospects and improved corporate earnings also contributed to gains, dealers said, resulting in Hong Kong, Taipei, Bangkok, and Manila also posting a stronger close.

However, Sydney was flat after an interest rate hike while strength in the local currency held back South Korean exporters and the Seoul benchmark also ended the day on an even note.

Tokyo and Shanghai were closed for public holidays.

HONG KONG: Share prices closed 0.94 per cent higher as gains in HSBC and property stocks led the benchmark index to top the 17,000 points level for the first time in over five-and-a-half years.

Dealers said HSBC gained on fund buying after the bank announced its first interim dividend for the year Tuesday.

The Hang Seng Index rose 158.94 points to 17,026.98. The last time the index topped the 17,000 points level was in September 2000. Turnover was 39.26 billion Hong Kong dollars (5.03 billion US).

HSBC closed up 1.40 at 137.30. The banking giant announced Tuesday a first interim dividend of 0.15 US dollars a share for the year.

SYDNEY: Shares prices closed flat following the central bank’s decision to raise its official interest rate by 25 basis points to 5.75 per cent.

The S and P/ASX 200 index climbed 0.4 points to 5,273.5. Turnover was 1.42 billion shares worth 4.14 billion dollars (3.16 billion US).

Mining shares were in favour from the start, particularly gold stocks, he said.

National Australia Bank dropped 0.13 to 32.24.

SINGAPORE: Share prices soared 1.02 per cent to close at another all-time high Wednesday, powered by gains in select banking stocks.

The Straits Times Index rose 26.85 points to 2,659.85 on volume of 1.56 billion shares valued at 1.72 billion Singapore dollars (1.09 billion US).

MUMBAI: Share prices closed at a third-straight record high led by strong overseas market trends and domestic fund buying.

The 30-share Sensex index rose 91.94 points or 0.75 per cent to 12,310.72.—AFP