Asian markets rise on new hopes from Europe
Sunday, 16 August 2009
HONG KONG, Aug 15 (AFP): Asian markets rose Friday as data out of Europe showing the German and French economies had moved out of recession boosted hopes for a global recovery.
Tokyo added 0.76 per cent, Hong Kong 0.15 per cent and Sydney 0.57 per cent, while Seoul rallied 1.71 per cent and Singapore 0.66 per cent.
TOKYO: Up 0.76 per cent. The Nikkei-225 rose 80.14 points to 10,597.33.
The market is at its highest since October 3.
Japanese data due out Monday are expected to show that the world's number two economy also rebounded in the second quarter of 2009.
HONG KONG: Up 0.15 per cent. The Hang Seng Index rose 32.03 points to 20,893.33.
The Hang Seng Index had risen 18 per cent over the past month.
Leading the blue-chip gainers was consumer goods exporter Li & Fung, which surged 9.20 per cent to 27.80 Hong Kong dollars. After the market closed Thursday, the company reported a 13 per cent rise in first-half net profit.
Export-oriented retailer Esprit soared 8.10 per cent to 61.70.
SYDNEY: Up 0.57 per cent. The S&P/ASX 200 gained 25.1 points to close at 4,461.0.
Dealers said sentiment was boosted by good results this week including a 10.3 per cent jump in profits from telecoms giant Telstra.
SHANGHAI: Down 2.98 per cent. The Shanghai Composite Index, which covers A and B shares, was down 93.59 points at 3,046.97.
The market is at its lowest since July 1 amid concerns the government will tighten monetary policy in the second half of the year.
SEOUL: Up 1.71 per cent. The KOSPI ended up 26.77 points at 1,591.41.
"Although US July retail sales came out weaker than expected, people seemed to have focused more on growing optimism that the US economy may be recovering faster (than expected)," Seo Jeong-Kwang at LIG Investment and Securities told Dow Jones Newswires.
TAIPEI: Up 0.49 per cent. The weighted index rose 34.55 points to 7,069.51.
"Reconstruction efforts (in the aftermath of Typhoon Morakot) are a must and investors see a tangible benefit" to construction and cement stocks, said Andrew Teng of Taiwan International Securities.
SINGAPORE: Up 0.66 per cent. The Straits Times Index advanced 17.33 points to 2,631.51.
Singapore Airlines gained four cents to 12.74 dollars, Singapore Telecommunications was five cents higher at 3.23 while Neptune Orient Lines rose two cents to 1.71.
CapitaLand put on 4.0 cents to 3.70 and Keppel Land was four cents stronger at 2.74.
BANGKOK: Down 0.22 per cent. The Stock Exchange of Thailand dropped 1.43 points to close at 654.25.
JAKARTA: Down 0.40 per cent. The Jakarta Composite Index lost 9.62 points to 2,386.86.
Car distributor Astra fell 3.70 per cent to 29,850 rupiah, Bank Mandiri lost 1.90 per cent to 3,925, while Bank Rakyat dropped 0.70 per cent to 7,250.
KUALA LUMPUR: Up 0.20 per cent. The Kuala Lumpur Composite Index gained 2.38 points to 1,188.57.
MANILA: Down 0.21 per cent. The composite index closed 6.05 points down at 2,850.01.
Tokyo added 0.76 per cent, Hong Kong 0.15 per cent and Sydney 0.57 per cent, while Seoul rallied 1.71 per cent and Singapore 0.66 per cent.
TOKYO: Up 0.76 per cent. The Nikkei-225 rose 80.14 points to 10,597.33.
The market is at its highest since October 3.
Japanese data due out Monday are expected to show that the world's number two economy also rebounded in the second quarter of 2009.
HONG KONG: Up 0.15 per cent. The Hang Seng Index rose 32.03 points to 20,893.33.
The Hang Seng Index had risen 18 per cent over the past month.
Leading the blue-chip gainers was consumer goods exporter Li & Fung, which surged 9.20 per cent to 27.80 Hong Kong dollars. After the market closed Thursday, the company reported a 13 per cent rise in first-half net profit.
Export-oriented retailer Esprit soared 8.10 per cent to 61.70.
SYDNEY: Up 0.57 per cent. The S&P/ASX 200 gained 25.1 points to close at 4,461.0.
Dealers said sentiment was boosted by good results this week including a 10.3 per cent jump in profits from telecoms giant Telstra.
SHANGHAI: Down 2.98 per cent. The Shanghai Composite Index, which covers A and B shares, was down 93.59 points at 3,046.97.
The market is at its lowest since July 1 amid concerns the government will tighten monetary policy in the second half of the year.
SEOUL: Up 1.71 per cent. The KOSPI ended up 26.77 points at 1,591.41.
"Although US July retail sales came out weaker than expected, people seemed to have focused more on growing optimism that the US economy may be recovering faster (than expected)," Seo Jeong-Kwang at LIG Investment and Securities told Dow Jones Newswires.
TAIPEI: Up 0.49 per cent. The weighted index rose 34.55 points to 7,069.51.
"Reconstruction efforts (in the aftermath of Typhoon Morakot) are a must and investors see a tangible benefit" to construction and cement stocks, said Andrew Teng of Taiwan International Securities.
SINGAPORE: Up 0.66 per cent. The Straits Times Index advanced 17.33 points to 2,631.51.
Singapore Airlines gained four cents to 12.74 dollars, Singapore Telecommunications was five cents higher at 3.23 while Neptune Orient Lines rose two cents to 1.71.
CapitaLand put on 4.0 cents to 3.70 and Keppel Land was four cents stronger at 2.74.
BANGKOK: Down 0.22 per cent. The Stock Exchange of Thailand dropped 1.43 points to close at 654.25.
JAKARTA: Down 0.40 per cent. The Jakarta Composite Index lost 9.62 points to 2,386.86.
Car distributor Astra fell 3.70 per cent to 29,850 rupiah, Bank Mandiri lost 1.90 per cent to 3,925, while Bank Rakyat dropped 0.70 per cent to 7,250.
KUALA LUMPUR: Up 0.20 per cent. The Kuala Lumpur Composite Index gained 2.38 points to 1,188.57.
MANILA: Down 0.21 per cent. The composite index closed 6.05 points down at 2,850.01.