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HONG KONG, Feb 2: Asian stocks closed mostly higher on Friday, buoyed by a record finish on Wall Street and the release of robust US consumer spending data, but gains in some markets were capped after another sharp fall in Shanghai.
The Chinese market was again hit hard amid fears the Shanghai benchmark had risen to far and too fast, resulting a 4.03 per cent tumble.
This dampened some regional markets which had risen sharply earlier in the day on the back of Wall Street, US economic data and a reassuring outlook on the US economy offered by the Federal Reserve earlier in the week.
Particularly, Hong Kong rose 0.65 per cent while Tokyo was up 0.16 per cent.
TOKYO: Share prices hit a six-year high briefly on optimism toward company earnings and the US economy but a flurry of profit-taking left the market only modestly higher by the close.
Dealers said the market posted its best finish for almost 10 months but gains were capped by caution ahead of monthly US jobs data due out later Friday and another slew of corporate earnings reports.
The Nikkei-225 index gained 27.61 points to 17,547.11. Volume on the TSE first section was 2.37 billion shares.
HONG KONG: Share prices closed up 0.65 per cent, but off their highs, as Wall Street's overnight gains and robust US consumer data encouraged buying of property and financial stocks.
Dealers said the market came off its highs in late trade after mainland bourses suffered another big drop amid continued worries that China may impose new measures to cool its economy and markets.
PC maker Lenovo was in focus as it posted sharp gains after announcing an improved performance for its fiscal third-quarter to December.
The Hang Seng Index closed up 133.52 points at 20,563.68. Turnover was 50.5 billion Hong Kong dollars (6.5 billion US).
SYDNEY: Share prices added 0.3 per cent to reach a fresh record high on a solid lead from Wall Street and strong gains by resources giant BHP Billiton.
The SP/ASX 200 ended up 17.4 points at 5,831.5.
CMC Markets senior dealer James Foulsham said BHP Billiton's strength helped counteract losses from rival resources giant Rio Tinto, which fell despite announcing a record 7.44 billion US dollar profit after market close Thursday.
SINGAPORE: Share prices rocketed 1.57 per cent to fresh record peaks, powered by sharp gains in banking and property stocks. Dealers said they expect the gains to be sustained.
The Straits Times Index breached the 3,200-point level for the first time to close at a fresh record high of 3,217.68, up 49.58 points. Volume traded was 2.45 billion shares, worth 2.47 billion Singapore dollars (1.61 billion US).
Correction will likely take place after Chinese New Year, with the index likely to continue rising ahead of the budget, a dealer with a local brokerage said.
KUALA LUMPUR: Share prices closed 1.66 per cent higher, as bullish investors sent the key index past the 1,200-point mark for the first time in a decade.
The Kuala Lumpur Composite Index rose 20.13 points to 1,209.48. Volume was 1.47 billion shares, valued at 3.71 billion ringgit (1.06 billion dollars).
JAKARTA: Share prices closed 0.51 per cent higher on an extended rebound driven by car dealer Astra International, on hopes that any further interest rate cuts will spur car demand.
The composite index closed up 9.055 points at 1,780.381 on volume of 2.28 billion shares worth 2.01 trillion rupiah (221.41 million dollars).
WELLINGTON: Share prices closed flat as a fall in market leader Telecom on the resignation of its chief executive offset gains in other stocks.
The NZX-50 gross index rose 0.19 points to 4,144.40 on turnover worth 147.5 million dollars (100.6 million US).
MUMBAI: Share prices closed up 0.96 per cent at a new record high led by hopes of sustained economic growth after India's central bank boosted its full-year growth forecast to 8.5-9.0.
Dealers said buying was hectic in telecom, capital goods and automobile companies. The 30-share Sensex index rose 136.59 points to 14,403.77.—AFP
