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HONG KONG, Nov 14: Asian stocks closed up on Wednesday as they staged a recovery from a mauling earlier in the week, buoyed by a Wall Street surge and falling crude oil prices.
Shares in mainland China and Hong Kong climbed almost five per cent, the Indian stock market jumped 4.69 per cent and Tokyo bounced off a 15-month low to end the day up 2.47 per cent.
They were among the best performing markets in a rally across Asia as investor sentiment stabilised following the sharp earlier sell-off.
Better US corporate news ignited a rally on Wall Street on Tuesday, helping to improve the mood in Asia.
Investors took heart after the world’s biggest retailer, Wal-Mart, beat forecasts with a quarterly profit of more than 2.8 billion dollars.
TOKYO: Japanese share prices rallied 2.5 per cent, snapping an eight-session losing streak after Wall Street rebounded despite lingering worries over the US housing slump, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index rose 372.93 points to 15,499.56. The broader Topix index of all first-section shares gained 42.98 points or 2.95 per cent to 1,497.71.
Gainers outnumbered decliners 1,526 to 144, with 48 issues unchanged.
Volume dropped to 2.07 billion shares from 2.20 billion on Tuesday.
HONG KONG: Hong Kong share prices closed sharply higher, surging 4.9 per cent after an overnight rally on Wall Street boosted investor sentiment, dealers said.
The benchmark Hang Seng Index gained 1,362.66 points to close at 29,166.01, its second biggest points rally ever, as bourses across Asia staged a recovery following a rout earlier in the week.
Overall turnover in the southern Chinese city was 149.12 billion Hong Kong dollars (19.15 billion US).
SYDNEY: Australian share prices closed up 1.3 per cent after a Wall Street surge amid easing concerns about the US economy, dealers said.
The benchmark S&P/ASX 200 closed up 83.4 points at 6,598.6, while the broader All Ordinaries was 79.1 points higher at 6,650.
Volume traded was 1.89 billion shares worth about 6.85 billion dollars (6.17 billion US dollars). Gainers outstripped decliners 809 to 498, with 328 unchanged.
SINGAPORE: Singapore share prices closed 1.42 per cent up, boosted by Wall Street’s recovery, dealers said.The main Straits Times Index added 49.44 points to 3,524.91.
Volume totalled 2.28 billion shares worth 2.61 billion Singapore dollars (1.81 billion US).
KUALA LUMPUR: Malaysian share prices closed little changed with investors still cautious about the US economic outlook, dealers said.
The Kuala Lumpur Composite Index closed up 1.15 points at 1,384.58 on volume of 1.44 billion shares worth 1.79 billion ringgit (534 million dollars).
Advancers led decliners 471 to 326, with 311 stocks unchanged.
JAKARTA: Indonesian share prices closed 1.4 per cent higher, although gains were pared by late profit-taking, dealers said.
The Jakarta Stock Exchange composite index closed up 37.66 points at 2,691.87. Volume was 5.76 billion shares worth 7.21 trillion rupiah (782.84 million dollars).
WELLINGTON: New Zealand share prices closed 0.81 per cent higher, with Fletcher Building leading the rise, dealers said.
The benchmark NZX-50 Index gained 33.50 points to 4,140.65 on turnover worth 118.65 million dollars (90.20 million US). Risers outnumbered fallers 64 to 39.
Freightways also did well, rising 12 cents to 3.79 dollars. Fellow transport firm Mainfreight rose 13 cents to 7.23 dollars.
MUMBAI: Indian share prices surged to close up 4.69 per cent as global markets rallied after stronger than expected earnings from retail giant Wal-Mart and a sharp drop in crude oil prices, dealers said.
The benchmark 30-share Sensex index rose 893.58 points or 4.69 per cent to 19,929.06, the second straight day of gains.
Buying was strong in capital goods, banking, metal and oil stocks.—AFP
