Asian stocks higher
HONG KONG, June 15: Asian stocks disregarded a modest overnight rise by Wall Street and made solid gains on Wednesday with South Korea, Indonesia and the Philippines outperforming the rest of the region.
TOKYO: Share prices closed 0.71 percent higher supported by banks and high-tech shares in cautious trade ahead of US inflation and Japanese machinery orders data due out this week.
The Nikkei-225 index rose 79.96 points to 11,415.88 on volume of 1.48 billion shares.
HONG KONG: Share prices closed flat in cautious trade amid uncertainty over the market’s direction with liquidity affected as some investors channelled funds into Bank of Communications’ initial public offering (IPO).
“Bank of Communications’ IPO seemed to be drawing interest away from the market,” said Kenny Tang, research head at Tung Tai Securities.
SYDNEY: Share prices closed 0.42 per cent higher in heavy trade Wednesday as investors welcomed positive central bank comments on the economic outlook.
On Tuesday, Reserve Bank of Australia Ian Macfarlane said the economy was coming off the boil but that this would ensure the current 14-year expansion would remain on track.
FW Holst and Co. analyst Michael Heffernan said the market was gaining confidence as it moved towards its record close of 4,266.4, reached on March 21.
JAKARTA: Share prices closed 1.24 per cent higher, with confidence picking up further after investors pushed the market through the psychological resistance level of 1,100 points.
The stock market rose for the second straight day after breaking through its strong resistance level of 1,100 points on Monday.
SINGAPORE: Share prices closed flat, with gains in select blue chip stocks capped by profit-taking in the broader market.
“Generally, there’s a lack of strong market leads.”
Singapore’s Department of Statistics said Wednesday retail sales in April rose 13 per cent year-on year to 2.35 billion dollars.
KUALA LUMPUR: Share prices closed 0.86 per cent higher as last-minute buying in key index heavyweights pushed the bourse through the 900-point barrier.
Profit-taking alternated with bargain-hunting throughout the day, but just minutes before the closing bell, buying of Malayan Banking, Tenaga Nasional and Telekom Malaysia propelled the index to break the psychological 900 point level.
WELLINGTON: Share prices closed 0.73 per cent at a three month high Wednesday on continued positive sentiment.
“It’s stubbornly strong,” said Goldman Sachs JB Were broker Joe Gallagher. “The offer’s conditional on getting 90 percent, which I would suggest is a hard ask,” Valk said.
Market heavyweight Telecom rose four cents to 6.07 dollars, with investors anticipating a capital return in August.
MUMBAI:\ Share prices rose for the third straight session with the benchmark index closing 0.68 per cent higher as investors brushed aside concerns over a delay in monsoon rains, dealers said.
The 30-share Sensex rose 46.80 points to close at 6,906.98.—AFP