Asian stock markets bounce back
Sunday, 30 March 2008
Stock markets across the Asia-Pacific region, bounced back Friday from early losses as bargain hunting emerged following recent sharp declines. The markets also shrugged off weak overnight cues from Wall Street and a report about North Korean Missile test. Crude oil has eased to near $107 a barrel after crude flow through Iraq's pipeline system was restored.
Shanghai rebounded from Thursday's steep fall, spurred by rumours that the government would take action to boost the market.
Japan's Nikkei 225 index gained 215.89 points or 1.71 per cent to close at 12,820.47. The broader Topix index of all First Section issues on the Tokyo Stock Exchange closed up 17.37 points or 1.42 per cent at 1,243.81.
In late Tokyo deals, the dollar strengthened to upper 99-yen level from mid 99-yen zone in early trade. At 4:11pm local time, the dollar was quoted at 99.73-99.74 yen, up 0.36 yen from Thursday's 5:00pm quotes of 99.37-99.40 yen in Tokyo.
Blue-chip gainers included Matsushita Electric 4.5 per cent, Mitsubishi Electric 4.3 per cent and Fujitsu 3.0 per cent. Mitsubishi Estate jumped 5.8 per cent and Mitsui Fudosan gained 3.3 per cent.
South Korea's KOSPI index closed up 25.59 points or 1.5 per cent at 1,701.83. For the week, the index has gained 3.4 per cent.
China's Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 168.65 points or 4.94 per cent to finish at 3,580.15.
Australia's S&P/ASX 200 index closed down 20.5 points or 0.38 per cent at 5,351.1. For the week, the key index gained 223.6 points or 4.4 per cent. The broader All Ordinaries fell 17.3 points or 0.32 per cent to finish at 5,401.2.
New Zealand's NZX 50 Index closed up 42.95 points or 1.25 per cent at 3,447.50, while the NZX All Capital Index added 10.13 points or 1.12 per cent to finish at 904.71.
Among other markets in the region, Taiwan's weighted index closed up 17.53 points or 0.20 per cent at 8,623.48, while Hong Kong's Hang Seng Index gained 621.73 points or 2.74 per cent to finish at 23,285.95.
Singapore's Straits Times Index closed up 60.70 points or 0.22 per cent at 3,031.90, while Malaysia's Kuala Lumpur Composite Index added 4.38 points to end at 1,258.41 and Indonesia's Jakarta Composite Index closed up 26.24 points or 1.07 per cent at 2,477.59.
India's Sensex closed up 386 points or 2.41 per cent at 16,401.63, while S&P CNX Nifty closed up 2.51 per cent at 4,951.55.
— Internet
Shanghai rebounded from Thursday's steep fall, spurred by rumours that the government would take action to boost the market.
Japan's Nikkei 225 index gained 215.89 points or 1.71 per cent to close at 12,820.47. The broader Topix index of all First Section issues on the Tokyo Stock Exchange closed up 17.37 points or 1.42 per cent at 1,243.81.
In late Tokyo deals, the dollar strengthened to upper 99-yen level from mid 99-yen zone in early trade. At 4:11pm local time, the dollar was quoted at 99.73-99.74 yen, up 0.36 yen from Thursday's 5:00pm quotes of 99.37-99.40 yen in Tokyo.
Blue-chip gainers included Matsushita Electric 4.5 per cent, Mitsubishi Electric 4.3 per cent and Fujitsu 3.0 per cent. Mitsubishi Estate jumped 5.8 per cent and Mitsui Fudosan gained 3.3 per cent.
South Korea's KOSPI index closed up 25.59 points or 1.5 per cent at 1,701.83. For the week, the index has gained 3.4 per cent.
China's Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 168.65 points or 4.94 per cent to finish at 3,580.15.
Australia's S&P/ASX 200 index closed down 20.5 points or 0.38 per cent at 5,351.1. For the week, the key index gained 223.6 points or 4.4 per cent. The broader All Ordinaries fell 17.3 points or 0.32 per cent to finish at 5,401.2.
New Zealand's NZX 50 Index closed up 42.95 points or 1.25 per cent at 3,447.50, while the NZX All Capital Index added 10.13 points or 1.12 per cent to finish at 904.71.
Among other markets in the region, Taiwan's weighted index closed up 17.53 points or 0.20 per cent at 8,623.48, while Hong Kong's Hang Seng Index gained 621.73 points or 2.74 per cent to finish at 23,285.95.
Singapore's Straits Times Index closed up 60.70 points or 0.22 per cent at 3,031.90, while Malaysia's Kuala Lumpur Composite Index added 4.38 points to end at 1,258.41 and Indonesia's Jakarta Composite Index closed up 26.24 points or 1.07 per cent at 2,477.59.
India's Sensex closed up 386 points or 2.41 per cent at 16,401.63, while S&P CNX Nifty closed up 2.51 per cent at 4,951.55.
— Internet