July 25, 2007	Wednesday	Rajab 09, 1428

HONG KONG, July 24: Asian stocks markets closed higher on Tuesday, with more records tumbling as investors bet that upcoming company results will keep the advance going strong, dealers said.

They said that with underlying sentiment and momentum so positive, the natural bias is upwards unless there is some major bad news lead and on Tuesday the markets got a clear run plus a boost from a rebound on Wall Street.

Hong Kong, Sydney, Singapore, Kuala Lumpur, Jakarta and Mumbai all set new highs while the mainland Chinese markets were within sight of record levels again despite the third interest rate hike this year announced on Friday.

Sydney's gain of 0.5 per cent came after a robust production report from the world's largest miner, BHP Billiton, reflecting the enormous impact Chinese demand has had there and around the region as a driver for economic growth and stock market gains.

TOKYO: Japanese share prices ended with modest gains as bargain hunters emerged ahead of a slew of domestic company results expected to show mostly solid earnings, dealers said.

They said gains were capped by caution over whether the results will meet expectations, by a stronger yen -- which is bad for exporters -- and political uncertainty ahead of Japan's weekend elections.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares gained 38.39 points or 0.21 per cent to 18,002.03. The broader Topix index of all first-section shares added 8.70 points or 0.50 per cent to 1,765.99.

HONG KONG: Hong Kong share prices closed 0.46 per cent higher, extending further into record territory as Chinese insurers posted strong gains, dealers said.

Select property stocks were also supported on expectations that local housing prices will see a strong rebound in the coming months and bolster full-year earnings of developers, they added.

The Hang Seng Index closed up 107.32 points at 23,472.88, off a low of 23,410.54 and a new all-time high of 23,534.38. Turnover was 96.57 billion dollars (12.38 billion US).

SYDNEY: Australian share prices rose 0.5 per cent to chalk up yet another record finish, with sentiment boosted by a very strong annual production report from market leader BHP Billiton, dealers said.

Shares in the world's largest diversified resources group led the market up after it announced that its output of iron ore, copper, nickel, aluminium and metallurgical coal had reached record levels in the fiscal year ended June.

The benchmark S&P/ASX 200 was up 31.9 points at a record 6,422.3, off a high of 6,432.2 and a low of 6,432.2.

The broader All Ordinaries gained 27.7 points to close at 6,455.5, just off its record close of 6,456.7 set on Friday, having set a new intra-day high of 6,464.3.

Turnover was 2.3 billion shares worth 6.9 billion dollars (6.1 billion US), with 709 stocks up, 584 down and 347 unchanged.

SINGAPORE: Singapore share prices powered to a new all-time high boosted by conglomerates and shipyard stocks, dealers said.

The Straits Times Index rose 29.78 points or 0.82 per cent at 3,665.13, beating the previous record of 3,654.61 set on July 13. Volume was 3.89 billion shares worth 2.98 billion dollars (1.98 billion US).

KUALA LUMPUR: Malaysian share prices rose 0.8 per cent to post another record high as investors cheered the government's development plans for the northern region, dealers said.

The Kuala Lumpur Composite Index gained 10.65 points at 1,392.18, beating the previous closing record of 1,391.57 points set on June 22.

JAKARTA: Indonesian share prices rose 0.6 per cent, extending record gains to a fourth day as investors accumulated select major stocks in anticipation of strong first half to June earnings.

The Jakarta Stock Exchange composite index closed up 20.93 points at 2,401.14 points. Volume was 5.67 billion shares worth 4.59 trillion rupiah (507 million dollars). Gainers led losers 135 to 67, with 69 stocks unchanged.

WELLINGTON: New Zealand share prices closed 0.34 per cent higher following gains in blue chips driven by firmer overseas markets, dealers said.

The benchmark NZX-50 index rose 14.75 points to 4,321.29 on turnover worth 192.5 million dollars (155.7 million US).

Auckland International Airport (AIA) fell two cents to 3.39 dollars after Monday rising 10 cents on news Dubai Aerospace Enterprise was proposing to spend up to 2.6 billion dollars for a stake of up to 60 per cent.

MUMBAI: Indian share prices rose 0.4 per cent to a fourth straight record finish on sustained foreign investor interest in benchmark stocks, dealers said.

The Mumbai benchmark Sensex index closed up 62.72 points at 15,794.92, off an intraday record high of 15,868.85. It has gained 3.3 per cent in the past five trading sessions.—AFP