HONG KONG, May 3: Asian stocks chalked up further substantial gains Thursday as another record finish on Wall Street kept the 'feel good' factor in place after more positive US economic data, dealers said.
They said the main theme remained unchanged -- stronger-than-expected US factory order figures confirmed an earlier manufacturing sector report and bolstered faith in the US economy's ability to get through its current slow patch unscathed.
HONG KONG: Hong Kong share prices closed 1.44 per cent higher, extending gains on hopes an upcoming government land auction will attract strong interest from leading developers and push property prices higher, dealers said.
They said the market also got a strong boost from HSBC, which continued to benefit from news of a significant investment in the global baning giant by a private-equity firm owned by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum.
The Hang Seng Index jumped 293.09 points to 20,681.58, off a low of 20,555.57 and a high of 20,739.03. Turnover was 54.44 billion dollars.
SYDNEY: Australian share prices chalked up at another all-time high, adding 0.13 per cent as investors cheered a sustained rally into record territory on Wall Street overnight, dealers said.
The key S&P/ASX 200 added 7.9 points at 6,245.6, surpassing Wednesday's record finish of 6,237.7. The broader All Ordinaries index gained 12.4 points to settle at an all-time high of 6,236.9.
Turnover was 1.68 billion shares worth 5.42 billion dollars, with rises outnumbering falls 689 to 556 and 360 stocks unchanged.
SINGAPORE: Singapore share prices powered to a new closing high, driven by another record Wall Street performance overnight, dealers said.
The Straits Times Index (STI) climbed 32.83 points or 0.96 per cent to 3,450.64 on volume of 6.04 billion shares worth 2.99 billion dollars. Gains led declines 477 to 377 with 567 stocks unchanged.
KUALA LUMPUR: Malaysian share prices hit a fresh record high, jumping 1.55 per cent on news of the largest corporate buy-out in Southeast Asia and supported by another record run on Wall Street, dealers said.
The Kuala Lumpur Composite Index gained 20.54 points to a record 1,342.79.
The previous best finish was 1,330.26 points set on 17th April.
Volume was 1.66 billion shares worth 3.17 billion ringgit. Gainers led losers 583 to 325, with 271 stocks unchanged.
JAKARTA: Indonesian share prices closed 0.85 per cent higher, with the main index ending at a new record, as sentiment was bolstered by Wall Street's strong performance overnight, dealers said.
The Jakarta Stock Exchange composite index rose 17.085 points for a record close of 2,025.644. The previous high was 2,019.676 points reached on April 27.
Volume was 6.44 billion shares worth 5.33 trillion rupiah. Gainers led losers 108 to 91, with 50 stocks unchanged.
MANILA: Philippine share prices closed flat as investors cashed in on early gains and adopted a cautious stance ahead of the upcoming May 14 mid-term elections, dealers said.
The composite index slipped 0.46 points to 3,271.53 after trading between 3,263.49 and 3,293.35.The broader all-share index fell 2.14 points to 2,079.56
Gainers and losers were even at 48 each, with 61 stocks unchanged.
Turnover was 5.8 billion shares worth 3.9 billion pesos.
WELLINGTON: New Zealand share prices closed 0.37 per cent higher, gaining ground after market leader Telecom recovered from early losses to put the market within sight of a record finish, dealers said.
The NZX-50 gross index rose 15.68 points to 4,202.67 on turnover worth 178.2 million dollars. Rises outnumbered falls 59 to 40.
The index hit a record of 4,211.61 points on 7th February.
“It started off very average, held back at the start after the Telecom announcement ... but since that's come back to an even keel, the rest of the market's firmed further,” said Don Lewthwaite of First NZ Capital.
Telecom announced a 1.1 billion dollar capital return to shareholdiers while announcing third quarter results. Nine-month net profit was 690 million dollars compared with a loss of 244 million dollars a year earlier.
MUMBAI: Indian share prices closed 1.48 per cent higher, led by Reliance Industries and software stocks as the rupee weakened against the dollar from last week's nearly decade-high levels, dealers said.
They said strong overseas fund buying and strong Asian market inspired fresh buying after a two-day holiday and as the rupee was quoted at 41.10 against the dollar from levels around 40.60 last week.
The benchmark Mumbai stock exchange 30-share Sensex index rose 205.84 points to 14,078.21.
“Overseas funds were strong players today. We, however, see signs of overheating and stretched valuations for some stocks,” said Advait Date, dealer with brokerage BHH Securities.
India's largest private sector firm Reliance Industries closed up 63 rupees or 4.04 per cent at 1,623.1.—AFP
