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HONG KONG, April 6: Asian stocks mostly posted substantial gains on Thursday as investors banked on strong first quarter corporate results in what increasingly looks to be a ‘Goldilocks’ global economy — not too hot, not too cold but just right, dealers said.
They said the momentum is proving irrestible at the moment, forcing any investors to come off the sidelines or face the risk of being left behind, especially if US interest rates are close to peaking out as some think.
On the day, Sydney rose 0.61 per cent for another record finish while Tokyo picked up 1.42 per cent, Seoul added 0.59 per cent and laggard Taipei put on 1.43 per cent as investors there played catch up with the region.
TOKYO: Japanese share prices hit fresh multi-year highs on hopes for a strong set of corporate earnings as the economy continues to push ahead, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index jumped 245.35 points or 1.42 per cent to 17,489.33, the highest closing level since July 11, 2000.
Gainers swamped losers 1,297 to 320, with 77 stocks unchanged. Volume was 1.77 million shares, down from 2.14 billion Wednesday.
HONG KONG: Hong Kong share prices closed sharply higher, gaining 1.93 per cent on strong fund inflows amid fresh hopes that the Chinese yuan will be allowed to appreciate further, dealers said.
SYDNEY: Australian share prices rose 0.61 per cent for a second consecutive record finish as the market’s resources-driven bull run continued, dealers said.
SINGAPORE: Singapore share prices closed little changed as the market took a breather following recent gains and ahead of the first quarter corporate earnings reporting season, dealers said.
KUALA LUMPUR: Malaysian share prices closed little changed with late buying interest in index-linked stocks providing support after sharp gains Wednesday, dealers said.
JAKARTA: Indonesian share prices rose 0.77 per cent for another record finish after Bank Indonesia said it may cut its key interest rate sooner than planned, boosting banking and property stocks, dealers said.
WELLINGTON: New Zealand share prices closed 0.35 per cent higher, rising in line with overseas markets to chalk up a 10-day record-breaking run, dealers said.—AFP
