HONG KONG, May 7: Asian stocks pushed the boundaries even further on Monday with investors cheered by another record finish on Wall Street, heightened takeover activity and solid corporate profit results.
New York notched-up its fourth straight all-time record closing high last Friday on mergers and data suggesting US economic conditions are slowing but not stalling and this helped Tokyo to a gain of 1.58 per cent.
Sydney gained 0.49 per cent, Seoul was up 1.07 per cent, Hong Kong advanced 0.27 per cent, Jakarta went ahead by 0.18 per cent and Kuala Lumpur rose 0.13 per cent -- with all five benchmarks closing in record territory.
TOKYO: Share prices jumped 1.58 per cent as the market played catch up after a four-day weekend with Wall Street's record breaking performance.
Dealers said the weaker yen against the dollar also helped sentiment, especially in the exporters who benefit directly, helping boost stocks across the board.
The Nikkei-225 index gained 274.91 points at 17,669.83. Volume increased to 2.20 billion shares from 1.71 billion on Wednesday.
A strong showing by US and European shares, boosted by news of active merger deals and negotiations, drove up Tokyo shares across the board, said Nikko Cordial Securities in a commentary.
The dollar stood above 120 yen level in early trade, lending support to exporter shares.
HONG KONG: Share prices closed up 0.27 per cent for another record close, led by gains in China-related stocks although stocks pulled back after breaking the 21,000 points level.
China stocks managed to sustain their gains on hopes that mainland bourses will rise further when they resume trade Tuesday after the May Day holidays.
The Hang Seng Index ended up 55.56 points at 20,896.64. Turnover was 67.98 billion Hong Kong dollars (8.7 billion US dollars).
SYDNEY: Share prices rose 0.49 per cent, chalking up a fourth consecutive record finish as speculation of a merger between mining heavyweights BHP Billiton and Rio Tinto pushed stocks higher.
Dealers said the gains in the big miners offset profit taking elsewhere as well as uncertainty over a 11.1 billion dollar (9.2 billion US) bid for national airline Qantas.
The S&P/ASX 200 closed up 30.8 points at 6,335.7. Turnover was 1.62 billion shares worth 5.87 billion dollars (4.8 billion US).
SINGAPORE: Share prices closed 0.23 per cent lower as investors consolidated their positions after the index touched new record peaks earlier in the session.
The Straits Times Index slipped 8.17 points to 3,477.59. Volume traded was 3.47 billion shares worth 1.46 billion Singapore dollars (2.20 billion US).
KUALA LUMPUR: Share prices closed up 0.13 per cent on the back of gains in banking stocks with the benchmark index hitting a new all time high.
Dealers said losses by plantation stocks on concerns the government may impose a tax on the oil palm industry capped the upside.
The composite index closed up 1.88 points at 1,365.28. Trading volume was 1.92 billion shares, valued at 2.98 billion ringgit (871 million dollars).
The market has looked lethargic for much of the day, said Cheah King Yoong, head of research at SJ Securities.
JAKARTA: Share prices closed 0.18 per cent higher with sentiment lifted by Wall Street's continued gains and hopes that Bank Indonesia may cut its benchmark rate this week.
Dealers said the cabinet reshuffle announced by President Susilo Bambang Yudhoyono had little impact on the market while Bank Indonesia will hold its board meeting on Tuesday.
The composite index ended up 3.673 points at 2,037.041 on volume of 4.9 billion shares valued at 4.14 trillion rupiah (461,28 million dollars).
Samuel Sekuritas analyst Christine Salim said market sentiment was positive overall although the upside was limited.
WELLINGTON: Share prices closed little changed, retreating after hitting a record intra-day high as regional markets followed Wall Street's strong lead.
The NZX-50 gross index slipped 3.73 points to 4,202.58 on turnover worth 79.9 million dollars (58.9 million US). Rises outnumbered falls 58 to 47.
Earlier in the session, the index reached a record high of 4,223.28 before pulling back.
Auckland International Airport soared to a high amid reports the company was the target of a bid but the company said it had received no approaches, pushing the share price lower.
MUMBAI: Share prices closed 0.39 per cent lower, shedding early gains as investors locked-in gains.
The Mumbai 30-share Sensex index fell 55.02 points to 13,879.25.
The markets are showing signs of being stretched and there is a further correction expected,” said a dealer with brokerage Jamnadas Morarjee.—AFP
