HONG KONG, Feb 1: Asian shares closed mostly higher on Friday as the markets in Australia and India rose more than three per cent, but the ailing American economy still overshadowed trading after sharp US interest rate cuts.
Aussie stocks posted the day’s best performance, rising 3.4 per cent, followed by India’s 3.31 per cent gain. Asia’s major markets were mostly higher, although Tokyo and Shanghai slipped into the red.
Investors remained concerned about the struggling US economy and were looking ahead to jobs data expected to provide clues about its health.
A mortgage default crisis among so-called “subprime” — or riskier — borrowers has pummelled the US and ballooned into a global credit crunch that has sent a shudder through the world economy and international stock markets.
TOKYO: Japanese share prices closed down 0.70 per cent amid caution over key US jobs data and disappointing earnings news from companies including Sony Corp., dealers said.
They said many investors refrained from buying ahead of the US non-farm payrolls figures, which are seen as a key gauge of the health of the overall US economy.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index fell 95.31 points to 13,497.16. The broader Topix index of all first-section shares finished down 9.45 points, also a loss of 0.70 per cent, at 1,336.86.
HONG KONG: Hong Kong share prices closed up 2.9 per cent, dealers said.
The Hang Seng index closed up 667.84 points at 24,123.58. Turnover was 119.45 billion Hong Kong dollars (15.31 billion US).
Chinese financial markets will be closed February 6-12 and the Hong Kong bourse will be shut Thursday and Friday next week for the Chinese New Year.
SYDNEY: Australian share prices closed up 3.4 per cent, dealers said.
The benchmark S&P/ASX 200 gained 192.6 points to end at 5,842.9, while the broader All Ordinaries added 185.3 points to 5,882.3.
Turnover was 1.41 billion shares worth 6.21 billion dollars (5.57 billion US).
SINGAPORE: Singapore share prices closed 0.87 per cent higher, dealers said.
The blue chip Straits Times index closed 26.05 points higher at 3,007.80.
Volume was 1.54 billion shares worth 2.04 billion Singapore dollars (1.44 billion US).
JAKARTA: Indonesian share prices closed 0.7 per cent up, dealers said.
The Jakarta composite index closed up 19.57 points at 2,646.82.
Dongsuh Kolibindo analyst Ryan Sumarno said “there seemed to be heavy buying in miners and plantation stocks in late afternoon trade, helping the index to bounce back to end in positive territory.
WELLINGTON: New Zealand share prices closed 1.01 per cent higher, dealers said.
The benchmark NZX-50 Index rose 37.48 points to 3,708.13.
It’s clearly better, but the volumes were disappointing, said Forsyth Barr broker David Price. Investors are still very much sitting on the sidelines.
MUMBAI: Indian share prices closed up 3.31 per cent, dealers said. The benchmark 30-share Sensex index rose 584.71 points to 18,233.42.
Indications of fresh overseas buying led to an afternoon surge. Volatility will be seen due to low volumes, said Hiten Mehta, a fund manager with Fortune Financial Services.—AFP