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HONG KONG, Sept 20: Asian stocks closed mostly higher on Tuesday as Seoul, Sydney and Mumbai put in record breaking performances despite losses on Wall Street after a fresh spike in oil prices, dealers said.
They said gains elsewhere were significant, with Tokyo up 1.47 per cent to finish above the key 13,000 points level for the first time since June 2001 on increasing optimism on the economic outlook.
In several cases, the advance was led by the energy stocks as investors looked to the positive impact on their earnings rather than the possible dampening effect on the wider economy from soaring oil prices.
TOKYO: Japanese shares topped 13,000 points for the first time in over four years as foreign investors piled into the market on hopes of a rebound in the world’s number two economy, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index rose 189.89 points or 1.47 per cent to end at 13,148.57 on turnover of 3.26 billion shares. It was the first time that the blue-chip marker has closed above 13,000 points since June 2001.
The broader TOPIX index of all first-section shares gained 23.69 points or 1.78 per cent to 1,352.53.
HONG KONG: Hong Kong share prices closed 1.73 per cent higher led by blue chips China Mobile and Hutchison Whampoa, dealers said.
The Hang Seng Index closed up 258.66 points at 15,241.86, off a low of 14,943.61 and a high of 15,252.84. Turnover was 21.31 billion Hong Kong dollars. The Hang Seng China Enterprises Index rose 58.50 points or 1.16 per cent at 5,120.71.
Cheung Kong was up 1.65 at 84.50 dollars with Sun Hung Kai Properties gaining 1.30 at 81.30.
HSBC rose 0.20 at 126.10.
SYDNEY: Australian share prices rose 0.65 per cent to close at fresh record highs as gains in oil and metals prices boosted the resources and energy sectors, dealers said.
The benchmark SP/ASX 200 rose 29.6 points to close at its intra-day high of 4,580.9, surpassing the previous record of 4,553.6 set last Friday.
The broader All Ordinaries index finished up 27.6 points at 4,527.2, beating the record of 4,499.6 set Monday.
Market volume was 1.23 billion shares worth 3.84 billion dollars, with 576 stocks up, 448 down and 329 steady.
In the energy sector, Woodside Petroleum jumped 55 cents to 32.99 dollars and Santos rose 20 cents 11.40 dollars.
In resources, BHP Billiton gained 14 cents to 21.53 dollars and Rio Tinto rose 43 cents to 55.88 dollars.
SINGAPORE: Singapore share prices closed 0.39 per cent higher on optimism the economy is on track to meet the government’s 2005 growth target of 3.5-4.5 per cent despite higher oil prices, dealers said.
The Straits Times Index added 8.92 points to 2,307.42. Volume was 1.4 billion shares worth 1.2 billion Singapore dollars. Gains led losers 316 to 186, with 575 stocks unchanged.
KUALA LUMPUR: Malaysian share prices closed 0.13 per cent lower as investors remained sidelined ahead of the US Federal Reserve meeting on interest rates later in the day, dealers said.
The Kuala Lumpur Composite Index lost 1.24 points to 922.03. Volume was 430.49 million shares worth 827.71 million ringgit while decliners outnumbered gainers 400 to 277.
Among blue chips, Tenaga Nasional was flat at 10.70 ringgit, while Telekom Malaysia lost 0.10 to 10.40 and Malayan Banking shed 0.10 to 11.50.
BANGKOK: Thai share prices closed sharply higher, rising 2.00 per cent led by the energy sector after another spike in oil prices overnight and a specific listing date for major utility EGAT, dealers said.
The Stock Exchange of Thailand (SET) composite finished up 14.18 points at 723.16 and the bluechip SET 50 index jumped 12.55 points at 513.48.
JAKARTA: Indonesian share prices closed 1.03 per cent lower amid fears that a fresh spike in oil could make it more difficult for the government to decide the scale of a planned fuel price hike, dealers said.
The Jakarta Stock Exchange composite index lost 11.000 points at 1,055.591 on volume of 932.95 million shares worth 1.03 trillion rupiah (98.47 million dollars.) Declines led advances 90 to 20, with 58 stocks unchanged.
“I think the reason we failed to match the rally in most other markets in the region is the uncertainty about the fuel price hike,” said Felix Sindunata, an analyst with brokerage firm PT Pacific Duaribu Investindo.
He said government officials have talked of many options for a fuel price increase but so far nothing is certain.
Given expectations that crude oil prices will continue to rise, he said the market could continue lower.
Index heavyweight Telkom closed down 100 rupiah at 5,200.
MUMBAI: Indian share prices extended their unprecedented record-breaking streak, putting on 0.66 per cent for another record finish on continued fund support, dealers said.
The 30-share Sensex index rose 55.44 points to 8,500.28. —AFP
