HONG KONG, Sept 28: Asian stocks posted modest gains on Thursday in line with Wall Street after better-than-expected headline US housing figures reassured investors nervous about the extent of the US economic slowdown, dealers said.
They said, however, that the underlying data should not change the view that the US property market is falling quite sharply and it remains to be seen what impact this will ultimately have on consumer demand.
TOKYO: Japanese share prices closed back above 16,000 points for the first time in almost three weeks after another strong performance on Wall Street, dealers said.
Volume was 1.40 billion shares, down from 1.54 billion on Wednesday.
HONG KONG: Hong Kong share prices closed flat as many investors moved to the sidelines ahead of holidays in Hong Kong and China next week, dealers said.
SYDNEY: Australian share prices rose 0.41 per cent as investors rode the coat-tails of a strong rally on Wall Street, dealers said.
Strong gains in metals prices helped the resources sector while continued merger and acquisition speculation provided additional support.
SINGAPORE: Singapore share prices rose 0.39 per cent to their highest levels in more than four months, extending gains made Wednesday and underpinned by Wall Street's upturn, dealers said.
KUALA LUMPUR: Malaysian share prices closed 0.26 per cent higher, supported by local fund interest in selected blue chips, dealers said.
JAKARTA: Indonesian share prices closed 0.71 per cent higher, led by index heavyweight Telkom and some second-liners on the back of stronger regional markets, dealers said.
WELLINGTON: New Zealand share prices closed 0.35pc higher, supported by stronger overseas markets and follow-on activity from the the company takeover moves which boosted the market on Wednesday, dealers said. The NZX-50 gross index rose 12.52 points to 3,574.23 on turnover worth US$92.6m.—AFP
