HONG KONG, July 19: Asian stocks closed mostly higher on Thursday in cautious trade with investors remaining mindful of stresses in the United States and Chinese economies. Overnight US Federal Reserve chairman Ben Bernanke warned of problems posed by the troubled US housing market and this resulted in a modest fall on Wall Street.
A few hours later and China revealed its economy was racing ahead at its fastest pace in more than a decade while inflation numbers were also above expectations -- raising fears Beijing will tighten monetary policy.
The cross currents between the US and China were enough to cap gains and Tokyo typified the mood with a 0.56 percent rise, Seoul was up 0.40 percent, Singapore rose 0.58 percent and Kuala Lumpur gained 0.52 percent.
Wellington was stronger with a 0.90 percent gain while Jakarta was the standout on the day with 1.7 percent advance and a record close and Mumbai was up 1.63 per cent for another best ever finish.
Hong Kong was up 0.76 per cent but on the mainland uncertainty over monetary policies resulted in Shanghai shedding 0.44 per cent.
Sydney closed flat while a rate cut was seen as too little too late in Thailand where Bangkok shed 0.27 percent, Taipei was off 0.13 percent and Manila was down 0.80 per cent.
TOKYO: Share prices rallied as investors chased bargains a day after sharp falls sparked by concerns about US earnings.
The Nikkei-225 index gained 100.99 points to 18,116.57. Turnover slipped to 2.1 billion shares from 2.2 billion Wednesday.
HONG KONG: Share prices closed 0.76 per cent higher as investors shrugged off possible new tightening measures in China and accumulated blue chips in late trade.
They added that the market has discounted the likely fallout of the data, with most of the selling done Wednesday.
The Hang Seng Index closed up 174.28 points at 23,016.20. Turnover was 70.82 billion Hong Kong dollars (9.1 billion US).
SYDNEY: Share prices closed 0.90 percent higher as investors snapped up banks and resource stocks after losses earlier in the week.
Dealers said positive results guidance from Macquarie Bank added to the positive tone despite losses overnight on Wall Street after US Federal Reserve chairman Ben Bernanke sounded a cautious note on the US economic outlook due to problems in the housing market.
The S&P/ASX 200 ended up 55.1 points at 6,384.2. Turnover was 1.75 billion shares worth 5.94 billion dollars (5.2 billion US).
SINGAPORE: Share prices weathered a slump in property stocks to close 0.58 per cent higher on buying in selected blue chips.
Dealers said property developers extended their falls a day after the government raised a tax levied on redevelopment in what analysts see as a move to cool down the sizzling real estate market.
The Straits Times Index rose 20.65 points to 3,604.62 on volume of 4.55 billion shares worth 3.04 billion Singapore dollars (2.01 billion US).
KUALA LUMPUR: Share prices closed 0.52 per cent higher led by selected buying of big-cap stocks, especially financial firms, amid profit-taking elsewhere.
The composite index closed up 7.17 points at 1,376.40 on volume of 1.20 billion shares valued at 2.05 billion ringgit (597.7 million dollars).
JAKARTA: Share prices closed 1.7 per cent higher, with the main index finishing at an all-time high driven by expectations of robust first-half earnings.
Dealers said sentiment was further lifted by advances in key East Asian markets, with Telkom as well as mining and banking stocks leading the gains.
WELLINGTON: Share prices closed 0.90 per cent higher as leading stocks prodded the broad market upwards despite falls on Wall Street.
The NZX-50 index rose 38.62 points to 4,294.26 on turnover worth 151.7 million dollars (120.0 million US).
Third-ranked Contact Energy surged 13 cents to a record 9.35 dollars.
It's viewed as a defensive stock in a climate of rising interest rates, and exchange rates will not have a large effect on this company's performance,said Hamilton Hindin Greene partner Grant Williamson.
The New Zealand dollar hit 79.45 US cents early Thursday, a fresh 22-year high since the local currency was floated in 1985.
MUMBAI: Share prices climbed 1.63 per cent to a new record close, on strong overseas funds buying in benchmark stocks.
The Sensex closed at 15,555.13, up 248.96 points.
Strong liquidity, an absence of negative news and sustained buying are pushing the markets to new record highs, said Advait Date, a dealer with brokerage BHH Securities.—AFP