TOKYO, Nov 16: Asian stocks ended mostly higher Friday on optimism the US-led war in Afghanistan would end sooner than expected, but some of the region’s main exchanges closed lower on falling oil prices and other concerns.
Optimism is spreading in the market as investors expect the US war in Afghanistan will end soon, said Kazunori Jinnai, senior market analyst at Tokyo’s Daiwa Securities SMBC.
The upbeat mood was most prevalent in Tokyo, Hong Kong and Manila but Sydney was weaker on due to investors’ fears over falling oil prices and Singapore lower on a slump in key export figures.
The Nikkei average of 225 leading issues on the Tokyo Stock Exchange rose 159.20 points to end at 10,649.09.
In the afternoon session, investors stepped up their buying as the Nikkei index held firm during the morning.
Foreign investors, who stayed on the sidelines in the morning, turned buyers in the afternoon, chasing gains in hi-tech shares, said Tatsuo Kurokawa, senior market analyst at Nomura Securities.
HONG KONG: Hong Kong stocks rose 0.4 per cent on sentiment boosted by developments in Afghanistan.
The key Hang Seng index gained 47.98 points to 11,287.37, off a high of 11,393.49.
SYDNEY: The Australian share market fell 0.6 per cent after resources stocks were battered by investor fears over falling oil prices.
The All Ordinaries index fell 18.5 points to 3,257.50 while the SP/ASX 200 surrendered 22.2 points to 3,322.5.
SINGAPORE: Singapore share prices closed 0.7 per cent lower, losing early gains after fresh trade figures showed a 21.6-percent slump in key non-oil export figures for October.
The Straits Times Index (STI) dropped 10.0 points to 1,422.17, while the broader All-Singapore Equities Index was down 3.82 points at 381.52.
KUALA LUMPUR: Malaysian share prices closed 0.4 per cent higher after selective buying reversed earlier losses.
The Kuala Lumpur Stock Exchange’s composite index rose 2.81 points to finish at 635.31.
JAKARTA: Indonesian shares closed marginally higher on bargain-hunting in big cap stocks led by tobacco issues.
The Jakarta Stock Exchange composite index ended up 0.293 points at 378.67.
WELLINGTON: New Zealand shares racheted up a 0.5 per cent gain on the back of strong rallies by takeover target Frucor, Carter Holt Harvey and Sky City.
The benchmark NZSE40 index closed up 10.11 points at 2,023.85.
DF Mainland broker Greg Arnott said the rise was driven by good individual performances, rather than an overall positive tone.—AFP