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TOKYO, May 1: Most Asian stock markets were closed on Wednesday for the May Day holiday, but Tokyo and Sydney made gains on the back of a rebound on Wall Street.
Investors in the region had few options with Hong Kong, Singapore, Seoul and Taipei among the markets closed, and took their leads from a firmer New York bourse.
Tokyo share prices closed 0.5 per cent higher on gains in US technology stocks and with the relative stability of the dollar helping to support exporters, dealers said.
Trade was very thin ahead of a four-day holiday starting Friday and after a nationwide vacation on Monday this week.
The Nikkei-225 average of the Tokyo Stock Exchange gained 60.25 points to 11,552.79 while the benchmark Topix index of all issues on the market’s first section was up 4.85 points at 1,086.91.
In New York on Tuesday, the Dow Jones industrials ended up 1.3 per cent at 9,946.22 and the tech-laden Nasdaq composite rose 1.9 per cent to 1,687.90.
“There are very few market participants because of the holidays. After the holiday the market may get some momentum because the earnings announcements will be almost over, which was one of the concerns of investors,” he said.
SYDNEY: Australian share prices rose 0.3 per cent as banking, media and retail sectors rebounded under the influence of a stronger Wall Street.
The benchmark SP/ASX 200 index firmed 10.4 points to 3,360.4.
“There are no real clear standouts other than banks,” one dealer said. “Resources were lower, with the exceptionally fairly directionless.”
JAKARTA: Indonesian share prices closed 0.1 per cent higher as late gains in selected blue chips lifted the index into positive territory, offsetting earlier profit-taking.
The Jakarta Stock Exchange composite thin with most overseas markets closed for the May Day holiday.
WELLINGTON: New Zealand’s shares gained 1.2 per cent, taking NZSE-40 index closed up 24.47 points at 2,069.12. The tone was set by Wall Street which snapped back from a dismal losing streak in eight of the last 10 days.
Telecom added six cents to 4.88 dollars while Carter Holt was up five cents at 1.85.—AFP
