October 06, 2007	Saturday	Ramazan 23, 1428

HONG KONG, Oct 5: Asian stocks closed mostly up on Friday ahead of crucial US jobs data expected to provide clues about interest rates, and Hong Kong capped a volatile week by surging more than three per cent.

The southern Chinese territory’s Hang Seng index jumped 3.2 per cent after sliding mid-week but failed to surpass a record close above 28,000 points hit Tuesday.

Some smaller Asian markets were among the risers, including Indonesia’s, which achieved a second consecutive record closing high after rising just over one per cent and breaching the 2,500 points level for the first time.

But investors generally were concentrating on the US, where key jobs data were due Friday.

A positive employment report could be viewed as closing the window for more US interest rate cuts, which in turn might hit investor sentiment.

Among the losers, South Korea slipped below the 2,000 points level after surging at the start of the week on optimism about increased stability on the Korean peninsula following a landmark summit between the North and the South.

Japan’s main index also edged down ahead of a long weekend. The Tokyo bourse will be shut Monday.

The markets in mainland China were closed but re-open next week after an extended holiday break.

TOKYO: Japanese share prices closed narrowly mixed ahead of the release of key US economic data and a long weekend in Japan, dealers said.

HONG KONG: Hong Kong share prices jumped 3.2 per cent led by Chinese commodity stocks and market heavyweights such as China Life and Hong Kong Exchanges and Clearing, dealers said.

They said investors were waiting for key US employment data likely to provide clues on the outlook for interest rates.

The benchmark Hang Seng Index closed up 857.54 points at 27,831.52 after picking up pace in the afternoon. Turnover was heavy at 139.80 billion Hong Kong dollars (18 billion US).

SYDNEY: Australian share prices closed up 0.6 per cent as investors picked up commodities and consumer staple stocks ahead of the release of US jobs data, dealers said.

The benchmark S&P/ASX 200 rose 38.5 points to 6,605.4, while the broader All Ordinaries was up 37.4 points at 6,617.3.

Volume traded was 1.57 billion shares worth 4.9 billion dollars (4.3 billion US). Winners beat losers 741 to 493, with 341 issues remaining unchanged.

SINGAPORE: Singapore share prices closed 1.0 per cent higher on buying in blue chips led by bourse operator Singapore Exchange, dealers said.

The benchmark Straits Times Index rose 38.81 points to 3,822.62 on volume of 4.79 billion shares worth 2.62 billion Singapore dollars (1.78 billion US).

KUALA LUMPUR: Malaysian share prices closed 0.2 per cent higher with the market’s firmness in heavy trading suggesting positive investor sentiment, dealers said.

The Kuala Lumpur Composite Index rose 2.55 points to 1,372.39 on volume of 2.1 billion shares worth 2.29 billion ringgit (673.5 million dollars). Gainers led losers 631 to 282 and 242 stocks were unchanged.

At the close, the ringgit was quoted at 3.4020/4070 against the dollar.

JAKARTA: Indonesian share prices finished 1.1 per cent higher at a new record high on optimism over the outlook for corporate earnings this year, with regional gains providing an added lift, dealers said.

The Jakarta Stock Exchange composite index finished up 27.43 points at a new all-time high of 2,500.58, off a new record intra-day high of 2,504.44.

WELLINGTON: New Zealand share prices fell 0.37 per cent in light trading which lacked strong direction, dealers said.

The benchmark NZX-50 index fell 15.93 points to close at 4,284.05 on turnover worth 107.8 million dollars (81.5 million US). Falling stocks outnumbered rises 53 to 35.

Market leader Telecom fell one cent to 4.56 dollars, a day after the company reaffirmed its guidance of slightly lower earnings this year, and new chief executive Paul Reynolds said he had no intention to sell off its network.

The Australian Financial Review reported that private equity group TPG was in the lead to buy the casino operator after Providence Equity Partners did not make a bid.—AFP