HONG KONG, Jan 12: Asian stocks closed sharply higher on Friday with bargain hunters re-emerging after recent falls and a record finish on Wall Street overnight amid falling oil prices.
Tokyo was among the best performers with investors shrugging off the prospect of an interest rate rise next week and pushing the benchmark up 1.30 per cent. Taipei gained 1.88 percent and Seoul rose 1.69 per cent.
Hong Kong was up 1.18 per cent, however, Jakarta slumped 1.51 percent on falls in a major gas distributor while Shanghai was sold off by 3.68 per cent on heavy profit taking.
TOKYO: Share prices closed up 1.30 per cent, rallying after heavy recent losses as investors cheered a weaker yen and another record high on Wall Street overnight. The Nikkei-225 index gained 218.84 points to 17,057.01. Volume rose to 2.08 billion shares from 2.07 billion on Thursday.
A record-breaking performance on Wall Street and a further weakening of the yen (helped to support) the view that the market's recent pull-back is finally over, SBI Securities market analyst Hideyuki Suzuki said.
HONG KONG: Share prices closed 1.18 per cent higher, snapping a four-day losing streak as a record close on Wall Street overnight encouraged rotational buying of some blue-chip laggards and H-shares.
The Hang Seng Index closed up 228.04 points at 19,613.41. Turnover was 56 billion Hong Kong dollars (7.2 billion US).
SYDNEY: Share prices closed up 1.33 per cent with sentiment boosted by gains on Wall Street and a recovery in base metal prices in London overnight.
The key SP/ASX 200 rose 73.9 points at 5,638.8. A total of 1.45 bn shares worth 4.6 billion dollars (US$3.6bn) changed hands.
CMC Markets senior dealer James Foulsham said the market bounced after metals prices firmed and on a strong night of trading in US markets. The financial papers have been full of reports from analysts calling an end to the commodities boom of the past few years, he said.
SINGAPORE: Share prices closed 1.33 per cent higher, with the main index moving back above the key 3,000 points level.
Dealers said the index was supported by Wall Street's strong rally.
The Straits Times Index was up 39.04 points at 3,009.09 on volume of 2.71 billion shares worth 1.73 billion dollars (1.13 billion US). Dealers said the market may struggle to post further gains with many investors taking quick profits on upturns.
KUALA LUMPUR: Share prices closed 1.20 per cent higher on a technical rebound, with sentiment also firming on lower crude oil prices.
Dealers said government confirmation of interest by US carmaker General Motors Corp in acquiring a stake in Malaysia's national auto maker Proton provided additional support.
The composite index gained 13.27 points to 1,119.33 on volume of 1.17 billion shares valued at 2.05 billion ringgit (583.30 million dollars).
JAKARTA: Share prices closed 1.51 per cent lower for a fifth straight day, driven by a slump in gas distributor Perusahaan Gas Negara (PGN).
Dealers said PGN tumbled after the company said it would delay the start of commercial operations of its gas pipeline from South Sumatra to West Java to March from an initial schedule of end December.
The composite index closed down 25.800 points at 1,678.044. Volume was 3.63 billion shares worth 5.22 trillion rupiah (571.12 million dollars).
WELLINGTON: Share prices closed little changed in light trading as the market retreated into holiday mode.
The NZX-50 gross index rose 2.19 points to 4,051.84 on thin turnover worth 56.0 million dollars (38.7 million US).
Same store sales of 2.3 percent and a profit flat on last year is probably a little bit less than the market was hoping for, UBS broker Richard Leggat said.
MUMBAI: Share prices jumped 3.12 per cent to a record close led by November industrial production data which recorded major gains. The 30-share Sensex rose 425.82 points to 14,056.53 from its previous record close of 14,014.92 set on Jan 3, this year.—AFP