HONG KONG, June 16:Asian stocks extended their rebound on Friday after reassuring comments on the United States economy from US Federal Reserve Chairman Ben Bernanke inspired a sharp rally on Wall Street.Gains were registered across the region, with Tokyo up 2.82 per cent and Seoul 3.51 per cent higher, amid a growing chorus that the recent month-long rout may have been overdone.Investors took their cue from New York where the Dow Jones rose 1.83 per cent and through the critical 11,000-point mark after Bernanke appeared to tone down his rhetoric about inflation that had spooked the market.
In Hong Kong, up 2.64 per cent, dealers said strength in Japan had also added some gloss to regional sentiment with exporters leading the push on prospects noted by Bernanke that economic growth may weather higher energy costs.
Australia rose 2.04 per cent, while India again provided a focal point with its wild swings continuing unabated and its benchmark was up 3.56 per cent.
The Nikkei-225 index rose 408.58 points to 14,879.34. Volume rose to 2.12 billion shares from 1.73 billion shares Thursday.
Foreign investors were net buyers for a second straight day, encouraged by further gains on Wall Street.
As a whole, the prospects for (US) monetary policy haven't changed, and the worries (about US raising interest rates further) are still out there, he said.
Toshiba jumped 44 yen to 724.
HONG KONG: Share prices closed 2.64 per cent higher led by property and bank stocks following sharp gains on Wall Street and in Tokyo.
The Hang Seng Index closed up 407.57 points at 15,842.65. Turnover was 32.99 billion Hong Kong dollars (4.2 billion US).
CNOOC was up 0.35 at 5.90 dollars and Hutchison gained 0.90 at 69.90.
SYDNEY: Share prices closed 2.04 per cent higher, mirroring sharp gains across Asia as investor sentiment continued to climb following a further rise on Wall Street.
The S and P/ASX 200 index rose 99.3 points at 4,969.0. Turnover was 1.14 billion shares worth 3.97 billion dollars (2.93 billion US).
SINGAPORE: Share prices rose 3.1 per cent on bargain hunting as investors' confidence improved after Wall Street's rebound overnight.
The Straits Times Index closed up 71.48 points to 2,373.91. Volume totalled 1.15 billion shares worth 1.23 billion Singapore dollars (US $773.6m).
Selling seems to be over ... but we are uncertain whether this rebound can be sustained, said dealer with a local brokerage.
Singapore Airlines was up 40 cents to 12.90.
KUALA LUMPUR: Share prices closed 0.79 per cent higher in line with regional markets following a strong rally on Wall Street overnight.
The composite index gained 7.02 points at 893.50 and volume was at 425.8 million shares valued at 763.2 million ringgit (209.56 million dollars).
JAKARTA: Share prices leapt 5.47 per cent on a technical rebound spurred by overnight gains on Wall Street and strong performances across the regional boards.
The composite index closed up 67.875 points at 1,309.525 on volume of 1.65 billion shares worth 2.29 trillion rupiah (243.36 million dollars).
MUMBAI: Share prices rose 3.56 per cent, crossing the key 10,000 level intraday on overseas and local funds buying led by firm Asian markets as concerns of a US economic slowdown eased.—AFP
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