Asian shares surge on strong Japan growth
Friday, 15 February 2008
HONG KONG, Feb 14: Asian shares surged Thursday as surprisingly good economic figures from Japan and the US sparked hopes that stock market prospects were less gloomy than feared.
Japan's economy, the world's second largest, grew at an annualised 3.7 per cent pace in the three months to December, cheering investors after figures Wednesday showed US retail sales unexpectedly rose in January.
Hong Kong closed up a little shy of four percent, while India managed a gain of nearly five percent. Singapore ended the day more than three per cent higher and China was up 1.37 per cent.
Most of Asia's smaller markets rose, including a jump of over two per cent in Indonesia.
TOKYO: Tokyo share prices soared 4.27 per cent as unexpected good news on the Japanese and US economies helped to lift some of the recent gloom on global markets, dealers said.
The Tokyo Stock Exchange's benchmark Nikkei-225 index closed up 558.15 points at 13,626.45. The broader Topix index of all first-section shares climbed 47.09 points or 3.66 per cent to 1,332.44.
HONG KONG: Hong Kong share prices closed up 3.7 per cent, dealers said.
The benchmark Hang Seng index closed up 852.13 points at 24,021.68. Turnover was 94.30 billion Hong Kong dollars (12.1 billion US).
SEOUL: South Korean shares closed 4.0 per cent higher, dealers said.
The KOSPI ended 65.67 points higher at 1,697.45. Volume was 488 million shares worth 5.7 trillion won (6.02 billion dollars).
SINGAPORE: Singapore share prices closed 3.26 per cent higher, dealers said.
The blue chip Straits Times index closed 96.05 points higher at 3,045.59 on volume of 1.61 billion shares worth 2.21 billion Singapore dollars (1.56 billion US).
KUALA LUMPUR: Malaysian share prices closed up 0.9 per cent, dealers said.
The Kuala Lumpur Composite index finished up 12.95 points at a high of 1,436.10.
BANGKOK: Thai share prices closed 0.33 per cent higher, dealers said.
The Stock Exchange of Thailand (SET) composite index rose 2.70 points to 832.11 and the blue-chip SET-50 added 2.16 points to 601.28.
JAKARTA: Indonesian share prices closed 2.5 per cent higher, dealers said.
The Jakarta Composite Index closed up 64.86 points to 2,675.65.
MANILA: Philippine share prices closed 0.4 per cent lower, dealers said.
The composite index fell 11.75 points to 3,211.60. The all-share index fell 7.98 points to 1,955.04.
MUMBAI: Indian share prices rose 4.82 per cent, dealers said.
The 30-share benchmark Sensex index rose 817.49 points to 17,766.63.
— Internet
Japan's economy, the world's second largest, grew at an annualised 3.7 per cent pace in the three months to December, cheering investors after figures Wednesday showed US retail sales unexpectedly rose in January.
Hong Kong closed up a little shy of four percent, while India managed a gain of nearly five percent. Singapore ended the day more than three per cent higher and China was up 1.37 per cent.
Most of Asia's smaller markets rose, including a jump of over two per cent in Indonesia.
TOKYO: Tokyo share prices soared 4.27 per cent as unexpected good news on the Japanese and US economies helped to lift some of the recent gloom on global markets, dealers said.
The Tokyo Stock Exchange's benchmark Nikkei-225 index closed up 558.15 points at 13,626.45. The broader Topix index of all first-section shares climbed 47.09 points or 3.66 per cent to 1,332.44.
HONG KONG: Hong Kong share prices closed up 3.7 per cent, dealers said.
The benchmark Hang Seng index closed up 852.13 points at 24,021.68. Turnover was 94.30 billion Hong Kong dollars (12.1 billion US).
SEOUL: South Korean shares closed 4.0 per cent higher, dealers said.
The KOSPI ended 65.67 points higher at 1,697.45. Volume was 488 million shares worth 5.7 trillion won (6.02 billion dollars).
SINGAPORE: Singapore share prices closed 3.26 per cent higher, dealers said.
The blue chip Straits Times index closed 96.05 points higher at 3,045.59 on volume of 1.61 billion shares worth 2.21 billion Singapore dollars (1.56 billion US).
KUALA LUMPUR: Malaysian share prices closed up 0.9 per cent, dealers said.
The Kuala Lumpur Composite index finished up 12.95 points at a high of 1,436.10.
BANGKOK: Thai share prices closed 0.33 per cent higher, dealers said.
The Stock Exchange of Thailand (SET) composite index rose 2.70 points to 832.11 and the blue-chip SET-50 added 2.16 points to 601.28.
JAKARTA: Indonesian share prices closed 2.5 per cent higher, dealers said.
The Jakarta Composite Index closed up 64.86 points to 2,675.65.
MANILA: Philippine share prices closed 0.4 per cent lower, dealers said.
The composite index fell 11.75 points to 3,211.60. The all-share index fell 7.98 points to 1,955.04.
MUMBAI: Indian share prices rose 4.82 per cent, dealers said.
The 30-share benchmark Sensex index rose 817.49 points to 17,766.63.
— Internet