HONG KONG, July 12: Asian stocks closed broadly higher on Thursday after a rebound on Wall Street in response to increased takeover activity which enticed investors back into the markets.
Interest rates, improved outlooks and mergers also dominated Asian trade, where Jakarta rose 0.51 per cent, returning to record highs on the latest corporate results. Mumbai, up 1.22 per cent, also struck its best ever close.
TOKYO: Stocks closed below the key 18,000 points level as investors turned cautious, awaiting hints from the central bank on when interest rates will rise again.
Dealers said that a decision by the Bank of Japan to leaves its benchmark interest rate on hold at 0.5 per cent had been widely expected and the focus shifted to whether governor Toshihiko Fukui would signal an August hike.
HONG KONG: Share prices closed 0.89 per cent higher on strong gains in China Mobile after Citigroup and JP Morgan raised their target prices on the mainland telecoms giant.
The Hang Seng Index closed up 202 points at 22,809.02. Turnover was 91.41 billion Hong Kong dollars (11.72 billion US).
SYDNEY: Share prices rose 0.61 per cent, boosted by a rebound on Wall Street and speculation that mining behemoth Rio Tinto was set to acquire Canada's Alcan.
The S&P/ASX 200 ended up 38.3 points at 6,363.40. Volume reached 1.89 billion shares worth 6.38 billion dollars (5.4 billion US).
After trade ended, Rio Tinto made a recommended 38.1 billion US dollar cash offer for aluminium group Alcan, one of the biggest mining industry acquisitions in history.
SINGAPORE: Share prices closed 0.82 per cent higher on gains in blue chips following Wall Street's rebound overnight.
The Straits Times Index rose 29.62 points to 3,624.56. Volume totalled 3.95 billion shares worth 2.9 billion Singapore dollars (1.91 billion US).
We are tracking Wall Street's rebound, a dealer at a local brokerage said.
Oil and gas related stocks were active, the (oil and gas industry) outlook looks good, and the sector could continue to be market movers, he said.
KUALA LUMPUR: Share prices closed 0.49 per cent higher following Wall Street's strong rebound overnight and on hopes the government will continue to pump-prime the economy.
The composite index gained 6.75 points to 1,366.02 on volume of 1.452 billion shares worth 2.636 billion ringgit (764.0 million dollars).
Teoh Cheng Guan, head of retail research at Kenanga Investment Bank, said invstors reacted positively to Prime Minister Abdullah Ahmad Badawi's earlier remarks of more development projects to be launched over the next few months.
JAKARTA: Share prices closed 0.51 higher, driven by Wall Street's rebound overnight, with gains led by Telkom and Indosat on expectations of strong first half results.
The composite index closed up 11.499 points at 2,284.916. Volume was 4.77 billion shares valued at 4.2 trillion rupiah (463.42 million dollars).
Index heavyweight Telkom surged 300 rupiah to 10,900 and rival Indosat added 100 to 7,450.
Plantation company Astra Agro rose 200 rupiah to 14,850.
WELLINGTON: Share prices closed 0.21 per cent higher following the lead of firmer offshore markets.
The NZX-50 index was up 8.86 points at 4,238.54 on turnover worth 118.42 million dollars (91.86 million US). Rises outnumbered falls 61 to 48.
The bright spot on the market was NZ Oil and Gas, Grant Williamson of Hamilton Hindin Greene said.
With production imminent from one well, drilling due to start at another and high oil prices, the stock rose nine cents to a record high 1.32 dollars.
Finally NZ Oil and Gas has gained some market recognition for what it's managed to achieve, Williamson said, describing the rest of the market as a reasonably mixed performance. Telecom was up one cent at $4.64.
MUMBAI: Share prices closed up 1.22 per cent to a new record high led by automobile and banking stocks.
Dealers said software stocks remained subdued after India's second biggest software exporter Infosys Technologies lowered its full-year earnings forecast on Wednesday.
The 30-share Sensex index rose 181.42 points to 15,092.04.
The markets ignored a slowdown in industrial output for May.
The government said Thursday that output rose 11.1 per cent for May, a slowdown from the previous month and year as demand for manufactured goods dropped.
he buying momentum is clearly present but there will be volatility ahead as the bears will attempt a come-back, said Hiten Mehta, a fund manager with Fortune Financial Services.—AFP