Asian stocks close higher
HONG KONG, March 24: Asian stocks closed higher on Friday following a positive lead from Wall Street with trade also aided by domestic factors, dealers said. However, investors remained cautious against a backdrop of potential higher interest rates in the United States and the Federal Reserve policy meeting to be held next week.
Wellington stood out by climbing 0.27 per cent for record finish as investors bought into exporters benefitting from a falling local dollar and ignored data showing the economy teetering close to a recession.
Tokyo notched up a solid rise with a weaker yen and improved Tokyo land prices providing an added lift. Kuala Lumpur gained after the government lifted a ban on short selling in the stock market while improved metal prices helped Sydney to another record close.
TOKYO: Share prices closed 0.43 per cent higher, ending the week on an upbeat note as a weaker yen and news of a rise in Tokyo land prices last year helped boost sentiment.
The Nikkei-225 index added 71.50 points to 16,560.87 on turnover of 1.46 billion shares.
HONG KONG: Share prices closed 0.35 per cent lower in cautious trade ahead of the US Federal Reserve policy meeting next week. The Hang Seng Index lost 54.71 points at 15,716.46. Turnover was 27.28 billion Hong Kong dollars (3.5 billion US).
SYDNEY: Share prices edged higher again to chalk up another record finish as investors added more mining stocks to their portfolios following an overnight rise in metal prices.
The SP/ASX 200 gained 4.8 points or 0.10 per cent to move further into 5,000-point territory at 5,040.1, its fourth record close of the week.
SINGAPORE: Share prices closed 0.23 per cent higher in dull trade, picking up on regional gains after losses on Wall Street overnight.
KUALA LUMPUR: Share prices closed 0.11 per cent higher in rangebound trade after the government announced it is lifting its eight-year ban on stock short-selling.
JAKARTA: Share prices closed 0.44 per cent higher led by blue-chip Astra International after the company reported a better-than-expected 2005 net profit.
WELLINGTON: Share prices rose 0.27 per cent for another record finish as investors bought into exporters benefitting from a falling local dollar and ignored data showing the economy teetering close to a recession. The NZSX-50 gross index rose 9.56 points to 3,580.79 on turnover of US$75.55m.
MUMBAI: Shares prices rose one per cent to a record close as fears over government stability eased and funds bought into mid-sized and index stocks, ahead of the financial year-end next week.
The 30-share Sensex index rose 109.71 points or 1.01 per cent to 10,950.30.—AFP