Asian stocks rally on moves to ease credit crisis
Thursday, 13 March 2008
HONG KONG, March 12 (Internet): Asian stocks rose sharply Wednesday after the US and other central banks triggered a Wall Street surge by agreeing a huge cash injection into ailing credit markets.
Japanese share prices closed up 1.6 per cent, Australian shares ended the day 2.4 per cent higher, Singapore was up two per cent and South Korea rose 1.1 per cent. Hong Kong jumped a little under two per cent.
The central banks moved Tuesday to pump hundreds of billions of dollars into the financial system to ease a global credit squeeze threatening a US-led world economic slowdown.
TOKYO: Japanese share prices closed up 1.60 per cent following a powerful rally on Wall Street after major central banks pumped cash into stressed financial markets, dealers said.
The benchmark Nikkei-225 index rose 202.85 points to close at 12,861.13. The broader Topix index of all first-section shares gained 19.98 points or 1.62 per cent to 1,255.13.
HONG KONG: Hong Kong share prices closed 1.9 per cent higher, dealers said.
The Hang Seng Index closed up 427.41 points at 23,422.76 on turnover of 89.9 billion Hong Kong dollars (11.55 billion US dollars).
SYDNEY: Australian share prices closed 2.4 per cent up, dealers said.
The benchmark S&P/ASX 200 closed up 123.7 points at 5,257.9, while the broader All Ordinaries rose 123 points to 5,334.1.
SHANGHAI: Chinese share prices closed 2.30 per cent lower, dealers said.
The benchmark Shanghai Composite index, which covers both A and B shares, shed 95.76 points to 4070.12 on turnover of 88.66 billion yuan (12.49 billion dollars).
The Shanghai A-share index was down 2.30 per cent to 4,270.19. The Shenzhen A-share index fell 2.56 per cent to 1,358.60.
The Shanghai B-share index was down 3.77 points to 296.95. The Shenzhen B-share index lost 1.24 per cent to 592.14.
TAIPEI: Taiwan share prices closed up 0.64 per cent, dealers said.
The weighted index closed up 53.70 points at 8,435.30 on turnover of 146.61 billion Taiwan dollars (4.8 billion US).
SEOUL: South Korean share prices closed up 1.1 per cent, dealers said.
The KOSPI index closed up 17.35 points at 1,658.83. Volume was 321 million shares worth 5.1 trillion won (5.2 billion dollars).
SINGAPORE: Singapore share prices closed 2.0 per cent higher, dealers said.
The main Straits Times Index closed up 57.09 points at 2,917.94 on volume of 1.62 billion shares worth 2.09 billion Singapore dollars (1.51 billion US).
KUALA LUMPUR: Malaysian share prices closed 2.2 per cent higher, dealers said.
The Kuala Lumpur Composite Index rose 26.05 points to close at 1,232.59.
BANGKOK: Thai share prices closed 0.87 per cent higher, dealers said.
The Stock Exchange of Thailand (SET) composite index rose 7.17 points to 827.00 and the blue-chip SET-50 added 5.61 points to 598.63.
JAKARTA: Indonesian share prices closed 1.3 per cent higher, dealers said.
The Jakarta Composite index was up 32.71 points at 2,556.24.
MANILA: Philippine share prices closed 1.5 per cent higher, dealers said.
The composite index was up 44.39 points at 2,953.39 off a high of 3,004.71. The broader all-share index gained 22.37 points at 1,807.97.
MUMBAI: Indian shares closed little changed, dealers said.
The Mumbai stock exchange Sensex index closed up 4.83 points or 0.03 per cent to 16,127.98.
Japanese share prices closed up 1.6 per cent, Australian shares ended the day 2.4 per cent higher, Singapore was up two per cent and South Korea rose 1.1 per cent. Hong Kong jumped a little under two per cent.
The central banks moved Tuesday to pump hundreds of billions of dollars into the financial system to ease a global credit squeeze threatening a US-led world economic slowdown.
TOKYO: Japanese share prices closed up 1.60 per cent following a powerful rally on Wall Street after major central banks pumped cash into stressed financial markets, dealers said.
The benchmark Nikkei-225 index rose 202.85 points to close at 12,861.13. The broader Topix index of all first-section shares gained 19.98 points or 1.62 per cent to 1,255.13.
HONG KONG: Hong Kong share prices closed 1.9 per cent higher, dealers said.
The Hang Seng Index closed up 427.41 points at 23,422.76 on turnover of 89.9 billion Hong Kong dollars (11.55 billion US dollars).
SYDNEY: Australian share prices closed 2.4 per cent up, dealers said.
The benchmark S&P/ASX 200 closed up 123.7 points at 5,257.9, while the broader All Ordinaries rose 123 points to 5,334.1.
SHANGHAI: Chinese share prices closed 2.30 per cent lower, dealers said.
The benchmark Shanghai Composite index, which covers both A and B shares, shed 95.76 points to 4070.12 on turnover of 88.66 billion yuan (12.49 billion dollars).
The Shanghai A-share index was down 2.30 per cent to 4,270.19. The Shenzhen A-share index fell 2.56 per cent to 1,358.60.
The Shanghai B-share index was down 3.77 points to 296.95. The Shenzhen B-share index lost 1.24 per cent to 592.14.
TAIPEI: Taiwan share prices closed up 0.64 per cent, dealers said.
The weighted index closed up 53.70 points at 8,435.30 on turnover of 146.61 billion Taiwan dollars (4.8 billion US).
SEOUL: South Korean share prices closed up 1.1 per cent, dealers said.
The KOSPI index closed up 17.35 points at 1,658.83. Volume was 321 million shares worth 5.1 trillion won (5.2 billion dollars).
SINGAPORE: Singapore share prices closed 2.0 per cent higher, dealers said.
The main Straits Times Index closed up 57.09 points at 2,917.94 on volume of 1.62 billion shares worth 2.09 billion Singapore dollars (1.51 billion US).
KUALA LUMPUR: Malaysian share prices closed 2.2 per cent higher, dealers said.
The Kuala Lumpur Composite Index rose 26.05 points to close at 1,232.59.
BANGKOK: Thai share prices closed 0.87 per cent higher, dealers said.
The Stock Exchange of Thailand (SET) composite index rose 7.17 points to 827.00 and the blue-chip SET-50 added 5.61 points to 598.63.
JAKARTA: Indonesian share prices closed 1.3 per cent higher, dealers said.
The Jakarta Composite index was up 32.71 points at 2,556.24.
MANILA: Philippine share prices closed 1.5 per cent higher, dealers said.
The composite index was up 44.39 points at 2,953.39 off a high of 3,004.71. The broader all-share index gained 22.37 points at 1,807.97.
MUMBAI: Indian shares closed little changed, dealers said.
The Mumbai stock exchange Sensex index closed up 4.83 points or 0.03 per cent to 16,127.98.