July 05, 2007	Thursday	Jamadi-us-Sani 19, 1428

HONG KONG, July 4: Asian stocks closed mainly higher on Wednesday with investors tracking gains on Wall Street where the benchmark was supported by mergers and tie-ups.

However, gains were limited and interest capped ahead of independence day in the United States and the closure of US markets. Still, Hong Kong, Jakarta Mumbai and Seoul all closed at record highs.

Bangkok was among the best on the day and at its highest level in 10 years with a 1.47 per cent gain. Hanoi surged 3.71 per cent while Taipei rose 0.81 per cent although gains in Tokyo were milder, up just 0.10 per cent.

Wellington was 0.15 per cent higher and Kuala Lumpur gained 0.29 per cent but Sydney was flat while Singapore eased 0.41 per cent and Manila shed 0.54 per cent on profit taking.

TOKYO: Share prices closed slightly higher after US stocks were boosted overnight by takeover activity.

But dealers said trade was thin as some players were absent with US financial markets closed Wednesday for the Independence Day holiday.

The Nikkei-225 index added 18.82 points to 18,168.72. Turnover fell to 1.52 billion shares from 1.77 billion Tuesday.

HONG KONG: Share prices closed at another record high as China stocks continued to attract interest due to fund inflows and the yuan's appreciation.

Dealers said Wall Street's extended gains overnight also helped overall sentiment.

Property developer Chinese Estates surged after news that it is in talks with some parties regarding a buyout offer, while stock exchange operator HKEx was in focus on the back of robust trading activity in the market.

The Hang Seng Index closed up 67.41 points at 22,218.55. Turnover was 83.43 billion Hong Kong dollars (10.7 billion US).

SYDNEY: Share prices closed little changed after interest rates were left on hold and investors remained on the sidelines ahead of a public holiday in the United States.

Dealers said the market made early gains after Wall Street advanced overnight and the Australian central bank announced interest rates would not be raised above the current 6.25 per cent.

The S&P/ASX 200 slipped 0.4 points at 6,298.6. Turnover was 1.64 billion shares worth 5.82 billion dollars (4.97 billion).

SINGAPORE: Share prices closed 0.41 per cent lower as investors consolidated positions in the absence of fresh domestic leads.

Dealers said that with valuations already looking expensive, investors were reluctant to buy blue chips.

The Straits Times Index closed 14.58 points lower at 3,554.85 on volume of 4.08 billion shares worth 2.67 billion dollars (1.75 billion US).

KUALA LUMPUR: Share prices closed 0.29 per cent higher for the fourth straight day due to buying interest in construction, property and plantation stocks.

Dealers, however, said late profit-taking in some big-cap stocks limited the key index's gains.

The composite index gained 4.0 points to 1,377.14. Volume reached 1.2 billion shares valued at 2.08 billion ringgit (603 million dollars).

JAKARTA: Share prices closed 0.32 per cent higher, with the main index finishing at a new record, driven by gains in heavyweight Telkom and its rival Indosat.

Dealers said the upside however was limited by sharp losses in gas distributor Perusahaan Gas Negara (PGN).

The composite index closed up 6.986 points at 2,196.105. Volume was 4.25 billion shares worth 4.7 trillion rupiah (521.24 million dollars).

WELLINGTON: Share prices rose 0.15 per cent with the focus on domestic-oriented firms less exposed than the exports to the strong local currency.

The New Zealand dollar hit its highest level since being floated in 1985 at 78.40 US cents late Tuesday and continued firmer, dampening sentiment in key exporters.

The NZX-50 gross index rose 6.52 points to 4,240.26 on turnover worth 177.2 million dollars (138.6 million US).

ABN Amro Craigs retail equities adviser Nigel Scott said investors were concentrating on strong core stocks which were could weather the strong currency.

MUMBAI: Share prices closed at a new record high, gaining for five straight days, on expectations of positive first quarter earnings from companies.

Dealers said buying sentiment continued to be strong on the fading of global and domestic interest rate concerns.

The 30-share Sensex index closed up 73.73 points to 14,880.24.—AFP