Asian markets end higher
Sunday, 28 October 2007
BANGKOK, Oct 27 (AP): Most Asian markets rose Friday, with Hong Kong hitting its second straight record close and Japan getting a lift from Honda and Sony earnings.
Hong Kong's Hang Seng broke the 30,000-point barrier Friday for the first time.
Shares also rose in Australia, Indonesia, Malaysia, the Philippines, Singapore and Taiwan.
Hong Kong's Hang Seng index rose 1.80 per cent to close above 30,000 for the first time as property companies rose on hopes of a cut in US interest rates. The blue chip index finished the day at 30,405.22.
Also, the booming local economy will help boost wages, increasing the affordability of housing and lending support to property stocks, said Ernie Hon, a strategist at ICEA Securities, in a research note. Hong Kong's property subindex jumped 5 per cent to 37,039.89.
Sino Land was the biggest blue chip gainer, soaring 12.60 per cent. Henderson Land climbed 4.90 per cent. Sun Hung Kai Properties rose 4.0 per cent. Tycoon Li Ka-shing's property flagship Cheung Kong gained 5.20 per cent.
BANGKOK: Thailand's main stock index gained 0.10 per cent to 894.57 in a hectic trading day. Gains in energy and banking blue chips pushed the SET index to an 11-year high at 911.60, but it quickly fell back as short-term investors cashed out.
JAKARTA: Indonesia benchmark index on the Jakarta Stock Exchange rose 1.10 per cent to 2,624.43. Traders said the market is likely to consolidate Monday after recent sharp gains.
KUALA LUMPUR: The Kuala Lumpur Composite Index rose 1.50 per cent to a record close of 1,398.35 on broad buying support by both local and foreign funds.
MANILA: Philippine shares advanced as investors snapped up bargain stocks ahead of third-quarter earnings results and an extended weekend. The 30-company Philippine Stock Exchange Index inched up 0.45 per cent to 3,784.88.
SEOUL: South Korean shares rose sharply Friday to a two-week high on a late session surge in some technology stocks. The Korea Composite Stock Price Index rose 2.60 per cent to ,028.06. The won hit its highest level in more than a decade against the US dollar.
SINGAPORE: Banks and property companies lifted Singapore's benchmark index, with analysts predicting further gains next week on strong blue chip earnings. The Straits Times Index rose 1.70 per cent to 3,771.55 points
TAIPEI: Taiwan shares rose on expectations of good results by technology companies. The Weighted Price Index of the Taiwan Stock Exchange rose 0.66 per cent to 9,631.51 points. Foreign investors were the main players.
Hong Kong's Hang Seng broke the 30,000-point barrier Friday for the first time.
Shares also rose in Australia, Indonesia, Malaysia, the Philippines, Singapore and Taiwan.
Hong Kong's Hang Seng index rose 1.80 per cent to close above 30,000 for the first time as property companies rose on hopes of a cut in US interest rates. The blue chip index finished the day at 30,405.22.
Also, the booming local economy will help boost wages, increasing the affordability of housing and lending support to property stocks, said Ernie Hon, a strategist at ICEA Securities, in a research note. Hong Kong's property subindex jumped 5 per cent to 37,039.89.
Sino Land was the biggest blue chip gainer, soaring 12.60 per cent. Henderson Land climbed 4.90 per cent. Sun Hung Kai Properties rose 4.0 per cent. Tycoon Li Ka-shing's property flagship Cheung Kong gained 5.20 per cent.
BANGKOK: Thailand's main stock index gained 0.10 per cent to 894.57 in a hectic trading day. Gains in energy and banking blue chips pushed the SET index to an 11-year high at 911.60, but it quickly fell back as short-term investors cashed out.
JAKARTA: Indonesia benchmark index on the Jakarta Stock Exchange rose 1.10 per cent to 2,624.43. Traders said the market is likely to consolidate Monday after recent sharp gains.
KUALA LUMPUR: The Kuala Lumpur Composite Index rose 1.50 per cent to a record close of 1,398.35 on broad buying support by both local and foreign funds.
MANILA: Philippine shares advanced as investors snapped up bargain stocks ahead of third-quarter earnings results and an extended weekend. The 30-company Philippine Stock Exchange Index inched up 0.45 per cent to 3,784.88.
SEOUL: South Korean shares rose sharply Friday to a two-week high on a late session surge in some technology stocks. The Korea Composite Stock Price Index rose 2.60 per cent to ,028.06. The won hit its highest level in more than a decade against the US dollar.
SINGAPORE: Banks and property companies lifted Singapore's benchmark index, with analysts predicting further gains next week on strong blue chip earnings. The Straits Times Index rose 1.70 per cent to 3,771.55 points
TAIPEI: Taiwan shares rose on expectations of good results by technology companies. The Weighted Price Index of the Taiwan Stock Exchange rose 0.66 per cent to 9,631.51 points. Foreign investors were the main players.