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HONG KONG, March 6: Battered Asian stock markets closed higher on Tuesday, recovering some lost ground in a technical rebound as bargain-hunting emerged despite another weak showing on Wall Street overnight, dealers said. At the same time, they are wary about the US outlook after fourth quarter US growth figures were revised down sharply to undercut the comfortable view that the key market for the export-driven region was on course for a soft-landing.
TOKYO: Japanese share prices closed up 1.22 per cent, snapping a five-day losing streak as bargain hunters emerged after the recent rout, encouraged by a weaker yen which helps exporters, dealers said.
HONG KONG: Hong Kong share prices closed sharply higher, gaining 2.11 per cent in a technical rebound after tumbling 4.0 per cent Monday, with sentiment helped as the regional markets steadied following a global sell-off, dealers said.
SYDNEY: Australian share prices jumped 2.09 per cent to end a five-day losing streak as bargain hunters took heart from a recovery in Asian markets after the recent heavy sell-off, dealers said.
SINGAPORE: Singapore share prices closed 1.82 per cent higher, in line with firmer regional markets which rebounded from recent steep falls, dealers said.
KUALA LUMPUR: Malaysian share prices closed 1.82 per cent higher in a technical rebound after six straight days of sharp falls, dealers said.
JAKARTA: Indonesian share prices closed 1.98 per cent higher in a technical rebound after recent falls, with the central bank's announcement of an interest rate cut helping sentiment, dealers said.
WELLINGTON: New Zealand share prices closed flat after major regional markets firmed following Monday's sell-off, dealers said. The benchmark NZX-50 index fell 1.97 points to 4,033.36 on turnover worth $132.71m (US$91.4m) after losing 1.55pc Monday as major world markets tumbled.
MUMBAI: Indian share prices closed up 2.27pc, snapping two days of sharp losses, in a relief rally as foreign funds bought into index stocks battered in last week's global sell-off, dealers said.—AFP
