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HONG KONG, July 20: Asian stocks closed sharply higher on Friday, chalking up a series of record finishes on the back of Wall Street's lead as concerns about possible further economic tightening measures in China faded, dealers said.
They said that after much stronger-than-expected Chinese growth figures Thursday -- a blistering 11.9 per cent in the second quarter for 11.5 per cent in the first half of the year -- there had been some concerns Beijing would have to take more drastic measures to cool the economy.
TOKYO: Japanese share prices ended the week on an upbeat note after Wall Street hit another record high overnight on solid US corporate results, dealers said.
But they said the gains were limited by jitters over the first-quarter results of domestic companies which start coming out next week.
The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares rose 41.36 points or 0.23 per cent to 18,157.93. Over the week it lost 0.44 per cent.
HONG KONG: Hong Kong share prices closed at record highs as China Mobile and mainland financials posted strong gains following a sharp rally on the Chinese markets, dealers said.
The Hang Seng Index closed up 275.7 points or 1.20 per cent at 23,291.90, after trading in a range of 23,118.67 and a new all-time-high of 23,301.93. For the week, the index was up 192.61 points or 0.83 per cent.
SYDNEY: Australian shares rose 0.60 per cent for yet another record finish as the heavyweight mining stocks led the market up on the back of a strong performance on Wall Street overnight, dealers said.
The benchmark S&P/ASX 200 was up 37.6 points at 6,421.8 while the broader All Ordinaries put on 37.7 points to end the week at 6,456.7.
SINGAPORE: Singapore share prices closed 1.3 per cent higher as investors cheered strong gains on Wall Street overnight and local property stocks recovered, dealers said.
The Straits Times Index rose 46.76 points to 3,651.38, just short of last Friday's record finish at 3,654.61. Volume was 3.86 billion shares worth 3.08 billion dollars (2.04 billion US).
KUALA LUMPUR: Malaysian share prices closed 0.43 per cent higher, extending gains on the back of another record Wall Street performance overnight, dealers said.
The Kuala Lumpur Composite Index rose 5.96 points at 1,382.36 on volume of 1.6 billion shares worth 2.5 billion ringgit (733.1 million dollars). Gainers led losers 564 to 309, with 305 stocks unchanged.
JAKARTA: Indonesian share prices rose 1.4 per cent to a record close on follow-through buying across-the-board on expectations that most companies will report strong first-half earnings, dealers said.
The Jakarta Stock Exchange composite index added 32.71 points at 2,366.40, beating the previous all-time high of 2,333.7 points set Thursday.
WELLINGTON: New Zealand share prices closed 0.60 pc higher following gains in overseas markets, dealers said.
The benchmark NZX-50 index rose 26.01 points to 4,320.27, just short of the record finish of 4,333.24 set May 24, on turnover of US $ 117.7 million. Rises led falls 64 to 57 among the 157 stocks traded.
MUMBAI: Indian share prices edged up to another record finish in volatile trade marked by profit-taking, dealers said.
The Sensex closed up 15.42 points or 0.10 pc at 15,565.55, down from an intraday high of 15,683.03. The previous intraday high was 15,593.31 and the previous record close was 15,550.13, both set on Thursday.
Liquidity continues to push up equities but we expect volatility at higher levels. —AFP
