June 16, 2007	Saturday	Jamadi-ul-Awwal 30, 1428

HONG KONG, June 15: Asian stocks closed higher on Friday with investors continuing to track Wall Street where fears over potential interest rate hikes are receding.

Positive sentiment in New York had already improved after reports earlier in the weak implied inflation was being kept in check and this argument received additional support overnight from US inflation data at the wholesale level.

This showed “core” prices excluding food and energy rose a tame 0.2 per cent and Wall Street's latest rally continued which pushed Tokyo up 0.32 per cent, Sydney was 0.52 per cent higher and Taipei surged 1.45 per cent.

TOKYO: Share prices rebounded for a second straight day after a Wall Street extended its recovery and the yen slid to fresh lows against the dollar in a boost to exporters.

But dealers said the market was somewhat cautious ahead of a press conference by the head of the Japanese central bank, which earlier in the day left its key interest rate unchanged, as widely expected.

The Nikkei-225 index rose 129.20 points to 17,971.49. Turnover rose to 1.97 billion shares from 1.85 billion on Thursday.

HONG KONG: Share prices hit a record close as China stocks received a big boost from a continued shift of funds from the mainland by some investors.

Dealers said sentiment was also supported by Wall Street's extended gains overnight after the release of tame US core wholesale inflation data.

The Hang Seng Index closed up 149.79 points at 21,017.05. Turnover was heavy at 83.36 billion Hong Kong dollars (10.7 billion US).

SYDNEY: Share prices closed 0.52 per cent higher, supported by improved commodities and a rebound on Wall Street.

Dealers said major resource stocks led the market up as concerns about the prospect of higher interest rates, both locally and globally, eased.

The S&P/ASX 200 rose 32.6 points at 6,293.8. Turnover was 2.01 billion shares worth 7.07 billion dollars (5.90 billion US).

Bell Potter Securities private client advisor Stuart Smith said BHP Billiton and Rio Tinto were likely to continue to find support although day-to-day volatility was likely.

KUALA LUMPUR: Share prices closed 0.26 per cent higher in thin trade with select construction and property counters leading gains.

Dealers said property stocks were higher on news that more supportive measures will be introduced for the sector in the 2008 Budget announcement in September.

The composite index was up 3.47 points at 1,360.65 on turnover of 1.159 billion shares, worth 2.033 billion ringgit (587.6 million dollars).

JAKARTA: Share prices finished 0.58 per cent higher at a fresh all-time closing high, bolstered by a further rebound on Wall Street overnight, with miners well supported.

However, dealers said with some investors pocketing gains from select major stocks, such as Telkom and Perusahaan Gas Negara ahead of the weekend, the market's upside was capped.

The composite index closed up 12.228 points at 2,120.640 on volume of 4.96 billion shares valued at 4.42 trillion rupiah (488.51 million dollars).

MUMBAI: Share prices fell 0.29 per cent as investors sold in late trade to lock-in gains in a choppy market.

Dealers said the markets may consolidate further next week as investors were not keen to build up fresh investment positions until buying triggers were seen or liquidity improved.

The markets ignored inflation data which saw a marginal dip in wholesale inflation to 4.8 per cent for the week ended June 2, its lowest level in nearly a year.—AFP