Asian stocks close higher
HONG KONG, Dec 21: Asian stocks shrugged off another weak performance by Wall Street to close mostly higher on Wednesday with a 2.02 per cent leap in Tokyo helping to feed regional sentiment, dealers said.
They said the on-going rally in Japan, fuelled by a weaker yen and brighter economic prospects, had lent support to Seoul and Sydney where both markets struck record closes after each bounced by almost one per cent.
Dealers said it was difficult to determine how far the markets will go as investors turn their focus to Christmas and the New Year holidays but it did appear the lacklustre showing in New York was having only a limited impact.
TOKYO: Share prices soared 2.02 per cent to a fresh five-year high, briefly breaching the key 16,000-point level, on growing optimism over the economy and a softer yen.
In a buying spree led by foreign investors, the Nikkei-225 index jumped 316.31 points to 15,957.57. It was the highest close since October 6, 2000 when it settled at 15,994.24.
HONG KONG: Share prices closed 0.34 per cent higher on window-dressing by institutional investors ahead of the year-end holidays and a strong debut by the Guangzhou real estate investment trust (GZI REIT).
The Hang Seng Index rose 52.25 points to 15,221.42 on turnover of 19.87 billion Hong Kong dollars (2.55 billion US).
SYDNEY: Share prices rose 0.98 per cent for another record finish as investors bought the banks while resource and energy stocks were boosted by higher base metal and oil prices.
The S and P/ASX 200 index closed up 46.0 points at a record 4,718.2, surpassing Tuesday’s 4,672.2.
National Australia Bank rose 0.22 to 32.35, Commonwealth Bank added 0.52 to 42.40, ANZ rose 0.23 to 24.14 and Westpac gained 0.08 to 22.69.
SINGAPORE: Share prices closed 0.17 per cent higher led by gains in technology stocks.
The Straits Times Index rose 3.95 points to 2,332.67. Volume traded was 686 million shares valued at 534 million Singapore dollars (US $322 million).
MUMBAI: Share prices closed marginally lower in light trade despite early gains linked to a joint oil exploration deal by state-owned Oil and Natural Gas and China National Petroleum.—AFP