April 04, 2007	Wednesday	Rabi-ul-Awwal 15, 1428

HONG KONG, April 3: Asian stocks closed sharply higher on Tuesday as many benchmarks headed back towards historical highs with bargain hunters emerging after mild gains were made on Wall Street overnight.

Sentiment also improved as oil prices eased somewhat alongside tensions in the Middle East while the prospect of interest rate cuts by some central banks and a stronger dollar, also spurred buying.

Tokyo found additional support from a softer yen, which makes its exports cheaper, and its benchmark rose 1.27 per cent and this lent support elsewhere in the region where Taipei gained 0.61 per cent.

TOKYO: Share prices closed 1.27 per cent higher as bargain hunters emerged after Monday's sell-off, encouraged by a slightly softer yen and modest gains on Wall Street.

The Nikkei-225 index rose 215.64 points to 17,244.05. Volume was 2.34 billion shares, unchanged from Monday.

HONG KONG: Shares prices closed 0.97 per cent higher as positive leads from overseas markets, including Tokyo, helped the key index regain the 20,000 points level.

SYDNEY: Share prices closed 1.65 per cent higher, crossing the key 6,000 points mark for the first time in almost six weeks as investors looked for bargains after Monday's losses.

SINGAPORE: Share prices closed 1.3 per cent higher, boosted by Wall Street's overnight rise and data showing robust demand for residential properties here.

KUALA LUMPUR: Share prices closed 0.84 per cent higher in line with regional markets as investors bought into oil and gas related stocks.

JAKARTA: Share prices rose 2.44 per cent to a record high amid optimism that interest rates will be cut further.

WELLINGTON: Share prices closed 0.89 per cent higher, with market leader Telecom again providing the main impetus.

MUMBAI: Share prices bounced back 1.36 per cent on bargain-hunting after posting the sharpest fall in nearly a year, a day earlier.

The 30-share Mumbai Sensex closed up 169.21 points at 12,624.58.—AFP