April 10, 2007	Tuesday	Rabi-ul-Awwal 21, 1428

HONG KONG, April 9: Asian stocks rallied sharply higher Monday on improved prospects for the United States economy following the release of better than expected US jobs data.

The data, released Friday, showed an acceleration in US employment growth for March resulted in 180,000 new jobs which compared with an expected rise of 135,000 by Wall Street investors.

This calmed the latest bouts of anxiety over the US, Asia's main export market, resulting in Tokyo surging 1.48 per cent to a six week high and Seoul rising 1.14pc for a best ever finish.

Singapore also a struck a record close after rising 1.62pc, Kuala Lumpur surged 1.52 per cent, Taipei gained 0.65pc, and Jakarta was back near record territory with a rise of 0.96pc.

Shanghai stood out by soaring 2.27 per cent further into the record books and Mumbai was up 2.5 per cent, continuing its recovery from a sharp sell-off early last week.

However, Bangkok bucked the trend and fell 0.57 per cent with investors squaring off positions ahead of a policy meeting by the central bank.

TOKYO: Share prices closed up 1.48 per cent at a near six-week high after strong US jobs data calmed jitters over the US economy and pushed down the yen in a boost for exporters.

The Nikkei-225 index rose 258.98 points to 17,743.76. Volume rose to 1.91 million shares from 1.78m on Friday.

A weaker yen created optimism about the earnings of Japanese exporters while the unexpectedly strong US employment data for last month reduced anxiety about the state of the US economy, dealers said.

SHANGHAI: Share prices closed up 2.27 per cent at a fresh record high on sustained cash inflow and upbeat expectations for first-quarter results.

Dealers said steelmakers and financial stocks gained ground as investors believe the upward trend would continue.

The strong market gains recorded over the past three weeks are attracting more and more investors to stocks, and the Shanghai Composite will likely reach 3,500 points soon if no major negative news emerges, said Wang Sai, an analyst at Wanguo Consulting. The Shanghai Composite Index closed up 75.37 points at 3,398.95 on turnover of 139.94 billion yuan ($18.10bn).

SINGAPORE: Share prices finished at a new record high, touching 3,400 points for the first time, as sentiment was boosted by stronger-than-expected US employment data.

It was the third consecutive session the benchmark had hit record peaks.

The Straits Times Index surged 54.14 points to 3,400.00. Volume was 2.79 billion shares worth 1.93 billion Singapore dollars (1.28 billion US).

Market sentiment will remain bullish, riding on the optimism from regional bourses as well as the encouraging US job growth figures, Westcomb Securities said in a research note.

Penny stocks and the merger and acquisition theme are also likely to continue to spur investor interest going forward.”CIMB-GK Research said the STI may test the 3,400-3,460 points level this week.

KUALA LUMPUR: Share prices closed 1.52 per cent higher in line with regional gains as institutional buyers focused on oil and gas and palm oil firms.

The composite index gained 19.44 points to 1,298.36. Volume traded was 2.10 billion shares worth 2.815bn ringgit ($815.9m).

JAKARTA: Share prices rose 0.96 per cent, with gains in Asian markets helping to boost sentiment and pushing the benchmark back near record territory.

The composite index closed up 18.124 points at 1,913.735, on volume 1.8 billion shares worth 2.09 trillion rupiah (229.79m dollars).

Among key gainers was index heavyweight Telkom. It closed up 100 rupiah at 10,200, while rival Indosat was unchanged at 6,300.

MUMBAI: Share prices surged 2.5 per cent, a fourth straight day of gains on sustained fund buying in index and mid-cap stocks.

Dealers said the market was focused on earnings for the January-March quarter, especially from software exporter Infosys Technologies which kicks off tech company earnings on April 13. The 30-share Sensex closed up 321.66 points at 13,177.74.—AFP