Asian stocks higher
HONG KONG, Sept 8: Asian stocks chalked up thin gains in a cautious technical bounce Friday as concerns over the US interest rate outlook meant another weak performance on Wall Street provided no support, dealers said.
They said there was no incentive to take aggressive positions on the day as a deadly bomb in Kabul drew fresh attention to the terrorist threat ahead of the fifth anniversary of the September 11 attacks on the United States Monday.
The markets had been looking ahead to next year and the prospect the Fed would begin cutting rates as the US economy slowed but those hopes appear moot, at least until the US central bank meets again September 20 and gives fresh guidance.
TOKYO: Japanese share prices rose 0.42 per cent, recovering from early losses to stay above the key 16,000-point level after the Bank of Japan left its super-low interest rates unchanged, dealers said.
The Tokyo Stock Exchange's benchmark Nikkei-225 index gained 68.05 points to close at 16,080.46. The broader TOPIX index of all first-section stocks rose 6.46 points or 0.40 per cent to 1,619.92. Gains led losers 986 to 571, with 144 stocks unchanged.
HONG KONG: Hong Kong share prices closed 0.29 per cent higher on a technical rebound after falls over the past three sessions, with investors focusing on changes to the city's blue-chip index, dealers said.
SINGAPORE: Singapore share prices closed 0.19 per cent higher, supported by gains in the Japanese stock market and other regional bourses, dealers said.
KUALA LUMPUR: Malaysian share prices closed flat as profit-taking in plantation stocks wiped out early gains made on local institutional interest in select blue chips, dealers said.
JAKARTA: Indonesian share prices closed 0.26 per cent lower as the market found no strong leads, with gains in second-liners offset by falls in Telkom and Perusahaan Gas Negara (PGN), dealers said.
WELLINGTON: New Zealand share prices closed virtually unchanged in lacklustre trade, dealers said.
The NZSX-50 gross index slipped 0.34 points to 3,535.42 on light turnover worth 74.1 million dollars (47.4 million US). Rises narrowly outnumbered falls 44 to 42 among 128 stocks traded.
MUMBAI: Indian share prices closed 0.55 per cent higher on foreign fund buying in index and mid-cap stocks, supported by a modest regional rebound, dealers said.—AFP