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HONG KONG, Jan 30: Asian stocks closed mostly higher on Monday with Sydney continuing its latest run into record territory and Tokyo striking a fresh five year high on improved economic signals.
Trade was limited with most regional markets closed for the Lunar New Year holidays but dealers said broader sentiment remained positive after Wall Street rallied despite lower than expected economic growth figures.
Despite the result economists agreed the US economy remained on a firm footing which combined with a weaker yen and upbeat corporate earnings, helped Tokyo to close 0.55 per cent stronger.
Sydney was up 0.49 per cent amid continuing demand for Australia’s booming resources sector while Manila gained 0.47 per cent after 2005 economic growth figures came in higher than market forecasts.
Jakarta registered a slight rise, Wellington was flat but Bangkok was down 0.67 per cent amid persistent criticism of the sale of a 49.6-per cent stake in Shin Corp held by the family of the Thai prime minister.
TOKYO: Share prices gained 0.55 per cent to reach their highest closing level since September 2000, supported by gains on Wall Street, upbeat corporate earnings and a stronger dollar.
The Nikkei-225 index rose 90.55 points to 16,551.23. Volume rose to 3.02 billion shares from 2.43 billion shares on Friday.
Today’s industrial output data, which showed a rise for the fifth straight-month suggested that the economy is on the recovery track, even though the number fell short of the market consensus, said Hideo Mizutani, a chief strategist at Sieg Securities.
Solid corporate results also pushed forward Wall Street on Friday even though fourth-quarter gross domestic product data showed the US economy growing at its slowest pace in three years.
Trading houses extended their gains, with Mitsui Corp jumping 125 yen to 1,731, Mitsubishi Corp surging 160 to 2,760 and Sumitomo Corp adding 66 to 1,579.
SYDNEY: Share prices closed 0.49 per cent higher at a new record level, as mining and steel stocks pushed the market to overtake last week’s record close.
The SP/ASX 200 index jumped 24.1 points to 4,943.4 on 1.66 billion shares worth 3.68 billion dollars (2.77 billion US) changed hands.
JAKARTA: Share prices closed slightly higher led by Telkom, but trading was quiet with many investors still staying away ahead of a public holiday this week.
The composite index closed up 2.612 points at 1,232.321 on volume of 522.44 million shares valued at 556.10 billion rupiah (59 million dollars).
WELLINGTON: Share prices closed little changed in quiet trading due to a holiday in the commercial hub of Auckland.
The NZSX-50 gross index rose 0.58 points to 3,341.68 in thin trade of 42.2 million New Zealand dollars (28.8 million US).
MUMBAI: /Share prices closed 0.22 per cent lower as investors locked-in recent gains, with the benchmark index unable to reach the anticipated historic 10,000 level.
The 30-share Sensex index fell 21.76 points to 9,849.03 points. Volume totalled Rs 36.17 billion ($819 million).—AFP
