April 27, 2007	Friday	Rabi-us-Sani 09, 1428

HONG KONG, April 26: Asian stocks closed higher on Thursday after investors took their cue from New York where surging corporate results propelled Wall Street to a record close.

Investors were also hopeful that buoyant profits would also emerge from the Asia Pacific region where the reporting season is well underway, particularly in Tokyo where the benchmark closed 1.12 per cent higher.

Wellington, despite a central bank rise in interest rates, managed to stay with the trend and advanced 0.28 per cent, Sydney rose 0.39 per cent, Taipei was up 0.19 per cent and Seoul gained 0.49 per cent.

TOKYO: Share prices closed up 1.12 per cent after the Dow Jones Industrial Average crossed 13,000 points for the first time ever overnight.

Dealers said the record finish on Wall Street overwhelmed caution on the domestic front, where a raft of data is out Friday in the midst of the corporate earnings season.

The Nikkei-225 index gained 193.01 points to 17,429.17. Volume was 2.03 billion shares, up from 1.81 billion Wednesday.

Hiroaki Hiwada, a strategist at Toyo Securities, said: There is speculation that the Bank of Japan will raise its key interest rate in May so investors are waiting for the (inflation) report. JFE Holdings rose 280 yen to 6,720.

HONG KONG: Share prices closed 0.64 per cent higher as investors cheered a record performance on Wall Street overnight and further gains on the mainland's A-share markets.

Dealers said the index came off the day's highs due to some profit-taking in late trade.

The Hang Seng Index closed up 130.51 points at 20,667.29. Turnover was 51.80 billion Hong Kong dollars (6.64 billion US).

SYDNEY: Share prices closed 0.39 per cent higher as investor sentiment was buoyed by Wall Street's record-breaking performance overnight.

Dealers said the positive lead from Wall Street was reinforced by benign domestic inflation data for the March quarter released Tuesday, which showed the Reserve Bank of Australia is unlikely to raise interest rates in 2007.

The SP/ASX200 index rose 24.0 points to 6,212.2. Turnover was 1.83 billion shares worth 6.75 billion dollars (5.64 billion US) were traded.

SINGAPORE: Share prices closed 1.32 per cent higher as investors snapped up blue chips after the Dow Jones Industrial Average struck a record peak.

Dealers noted that Singapore investors were also buying on expectations that more local companies will report positive earnings after some blue chip companies delivered strong results.

The Straits Times Index closed up 44.21 points at 3,406.89 on volume of 2.92 billion shares worth 2.48 billion dollars (1.64 billion US).

JAKARTA: Share prices finished up 1.48 per cent at a record closing high after the Dow Jones Industrials index finished above 13,000 points for the first time overnight.

Dealers said the main index also finished above the psychologically important level of 2,000 points, on the back of Wall Street's surge.

Upbeat local factors including a stronger rupiah, solid corporate earnings and hopes of further interest rate cuts were also responsible.

The composite index closed up 29.362 points at 2,016.033. Volume was 6.96 billion shares worth 5.49 trillion rupiah (604.82 million dollars).

WELLINGTON: Share prices rose 0.28 per cent, maintaining the recent positive momentum despite the central bank hiking interest rates again.

The NZX-50 index added 11.79 points at 4,174.90 on turnover worth 104.75 million dollars (77.7 million US).

The central bank raised the official cash rate by 0.25 basis points to 7.75 per cent in the second hike in two months.

The market has generally, apart from Fletcher Building, taken the rate rise in its stride and even the rises in the exchange rate, he said.

MUMBAI: Share prices closed marginally higher as overseas funds bought leading index shares on strong earnings for the fourth quarter ended March.

Dealers said that full-year earnings for most Indian companies reported in April and related guidance for future profits kept sentiment strong.

The Mumbai 30-share Sensex closed up 11.11 points at 14,228.88.—AFP