Asian stocks higher as confidence returns
Wednesday, 9 September 2009
HONG KONG, Sept 8 (AFP): Asian markets moved higher Tuesday on hopes for the global economy following a surge in business confidence in Australia and on upbeat forecasts in other parts of the region.
Sydney jumped 1.56 per cent, Hong Kong 2.14 per cent and Tokyo 0.70 per cent, while Shanghai was 1.71 per cent higher.
Up 2.14 per cent. The Hang Seng Index finished 440.50 points higher at 21,069.81.
The rise was the fourth in a row and the market ended above 21,000 for the first time since August 11.
Sun Hung Kai Properties rose 2.1 per cent to 113.30 Hong Kong dollars, while New World Development rose 3.7 per cent to 17.26.
TOKYO: Up 0.70 per cent. The Nikkei-225 climbed 72.29 points to 10,393.23.
Sanyo jumped 5.6 per cent to 263 yen and GS Yuasa leapt 9.1 per cent to 871 yen. Sharp, a top maker of solar power panels, advanced 2.6 per cent to 1,095 yen.
SHANGHAI: Up 1.71 per cent. The Shanghai Composite Index, which covers A and B shares, was up 49.36 points to 2,930.48.
China's auto sales soared 81.7 per cent in August from a year earlier to 1.14 million units, breaking the one million unit mark for a sixth consecutive month, China Association of Automobile Manufacturers said.
SEOUL: Up 0.69 per cent. The KOSPI ended up 11.12 points at 1,619.69.
Analysts expect the KOSPI to drift in a narrow band until an interest rate decision by the central bank Thursday.
Volatility could also increase when stock index options and futures, as well as stock options and futures, expire simultaneously Thursday, dealers said.
TAIPEI: Up 1.24 per cent. The weighted index rose 89.4 points to 7,313.99.
The market rallied for an eighth consecutive session to its highest in more than a year, boosted by the appointment of a new premier.
SINGAPORE: Up 0.64 per cent. The Straits Times Index rose 16.96 points to 2,660.91.
Commodity-linked stocks were among the winners, spurred by gold's bounce.
BANGKOK: Up 1.34 per cent. The Stock Exchange of Thailand gained 9.16 points to close at 691.73.
Coal producer Banpu lost 4.00 baht to close at 416.00 baht, but PTT Plc jumped 8.00 to 253.00 and its subsidiary PTT Exploration and Production added 2.50 to close at 143.50 baht.
KUALA LUMPUR: Up 0.98 per cent. The Kuala Lumpur Composite Index gained 11.68 points to 1,202.07.
National carmaker Proton added 8.90 per cent to 3.66 ringgit and Bumiputra-Commerce bank was up 1.40 per cent at 10.48.
JAKARTA: Up 1.32 per cent. The Jakarta Composite Index gained 30.91 points to finish at 2,371.30.
MANILA: Up 0.76 per cent. The composite index rose 21.49 points to 2,852.48.
"Investors are apparently starting to price 2010 earnings," Ricardo Puig of ATR-Kim Eng Securities said.
Sydney jumped 1.56 per cent, Hong Kong 2.14 per cent and Tokyo 0.70 per cent, while Shanghai was 1.71 per cent higher.
Up 2.14 per cent. The Hang Seng Index finished 440.50 points higher at 21,069.81.
The rise was the fourth in a row and the market ended above 21,000 for the first time since August 11.
Sun Hung Kai Properties rose 2.1 per cent to 113.30 Hong Kong dollars, while New World Development rose 3.7 per cent to 17.26.
TOKYO: Up 0.70 per cent. The Nikkei-225 climbed 72.29 points to 10,393.23.
Sanyo jumped 5.6 per cent to 263 yen and GS Yuasa leapt 9.1 per cent to 871 yen. Sharp, a top maker of solar power panels, advanced 2.6 per cent to 1,095 yen.
SHANGHAI: Up 1.71 per cent. The Shanghai Composite Index, which covers A and B shares, was up 49.36 points to 2,930.48.
China's auto sales soared 81.7 per cent in August from a year earlier to 1.14 million units, breaking the one million unit mark for a sixth consecutive month, China Association of Automobile Manufacturers said.
SEOUL: Up 0.69 per cent. The KOSPI ended up 11.12 points at 1,619.69.
Analysts expect the KOSPI to drift in a narrow band until an interest rate decision by the central bank Thursday.
Volatility could also increase when stock index options and futures, as well as stock options and futures, expire simultaneously Thursday, dealers said.
TAIPEI: Up 1.24 per cent. The weighted index rose 89.4 points to 7,313.99.
The market rallied for an eighth consecutive session to its highest in more than a year, boosted by the appointment of a new premier.
SINGAPORE: Up 0.64 per cent. The Straits Times Index rose 16.96 points to 2,660.91.
Commodity-linked stocks were among the winners, spurred by gold's bounce.
BANGKOK: Up 1.34 per cent. The Stock Exchange of Thailand gained 9.16 points to close at 691.73.
Coal producer Banpu lost 4.00 baht to close at 416.00 baht, but PTT Plc jumped 8.00 to 253.00 and its subsidiary PTT Exploration and Production added 2.50 to close at 143.50 baht.
KUALA LUMPUR: Up 0.98 per cent. The Kuala Lumpur Composite Index gained 11.68 points to 1,202.07.
National carmaker Proton added 8.90 per cent to 3.66 ringgit and Bumiputra-Commerce bank was up 1.40 per cent at 10.48.
JAKARTA: Up 1.32 per cent. The Jakarta Composite Index gained 30.91 points to finish at 2,371.30.
MANILA: Up 0.76 per cent. The composite index rose 21.49 points to 2,852.48.
"Investors are apparently starting to price 2010 earnings," Ricardo Puig of ATR-Kim Eng Securities said.