Asian stocks close higher
HONG KONG, May 8: Asian stocks closed sharply higher on Monday after Wall Street rallied to a six year high amid hopes the US Federal Reserve could soon call off its campaign of interest rate hikes.
The Fed is widely anticipated to announce another rate hike after it meets this Wednesday but the release of weak US jobs figures had many in the markets believing the next hike should be the last.
TOKYO: Share prices rose 0.80 per cent on the coat-tails of Wall Street where the main blue-chip index hit six-year highs last week.
The Nikkei-225 index climbed 137.90 points to 17,291.67. Volume rose to 1.89 million shares from 1.44m shares Tuesday.
HONG KONG: Share prices gained 1.69 per cent, following a rally on Wall Street Friday after weaker-than-expected jobs data bolstered hopes that the US interest-rate rise cycle will be brought to an end soon.
The Hang Seng Index closed up 287.86 points at 17,301.79. Turnover was 41.55 billion Hong Kong dollars (5.32 billion US dollars).
SINGAPORE: Share prices closed 0.96 per cent higher as investor sentiment was buoyed by the ruling party’s near sweep of Saturday’s general election.
The Straits Times index closed 25.36 points up at 2,657.78. Volumes totaled 1.18 billion shares worth 1.27bn Singapore dollars (814 million US).
KUALA LUMPUR: Share prices closed 0.47pc higher Monday, with trading volume surpassing the two billion share mark on sustained buying interest in blue chips and second-liners.
JAKARTA: Share prices closed 1.68 per cent higher at a fresh record high on hopes that the central bank will soon cut its key interest rate.
The composite index closed up 24.865 points at 1,507.926 with 2.58bn shares traded worth 2.64 trillion rupiah (302.06m dollars).
MUMBAI: Share prices rose 0.83 per cent to close at a sixth-straight record high on Asian market trends and fund buying in banks, software companies and Reliance Industries.—AFP