Asian stocks rally to close mostly up
Friday, 28 September 2007
HONG KONG, Sep 27 (MarketWatch): Asian stocks closed mostly higher Thursday as they basked in the afterglow of last week's sharp cut in US interest rates and despite lingering concerns about global economic prospects.
The stock markets advanced sharply Thursday, with indexes in Sydney, Singapore and Hong Kong all setting new intraday highs, driven by gains in financial and energy sector stocks.
SINGAPORE: Singapore share prices closed up 0.70 per cent after government figures showed the city-state's industrial production rose last month, dealers said. The Straits Times Index gained 25.27 points to 3,650.09.
JAKARTA: Indonesian share prices closed 1.3 per cent higher on a technical rebound led by large-caps, with foreign buying and excitement over debutante Darma Henwa fueling momentum, dealers said. The Jakarta Stock Exchange composite index closed up 30.65 points at 2,361.01.
MANILA: Philippine share prices closed 1.0 per cent higher on thin volume as investors remained cautious, dealers said. The composite index gained 35.08 points to close at 3,475.75, off a high of 3,491.65 and a low of 3,449.64.
KUALA LUMPUR: Malaysian share prices closed up 0.3 per cent led by construction stocks, although trading volumes were light, dealers said. The Kuala Lumpur Composite Index closed up 4.46 points at 1,320.89.
SHANGHAI: Chinese share prices closed 1.61 per cent down with the market under pressure from liquidity concerns and investors cautious before a week-long national holiday. The benchmark Shanghai Composite Index ended down 87.36 pts at 5,338.52.
TOKYO: Japanese share prices rose 0.21 per cent on hopes of solid corporate earnings and an end to recent political uncertainty with a new govt now in place.
The stock markets advanced sharply Thursday, with indexes in Sydney, Singapore and Hong Kong all setting new intraday highs, driven by gains in financial and energy sector stocks.
SINGAPORE: Singapore share prices closed up 0.70 per cent after government figures showed the city-state's industrial production rose last month, dealers said. The Straits Times Index gained 25.27 points to 3,650.09.
JAKARTA: Indonesian share prices closed 1.3 per cent higher on a technical rebound led by large-caps, with foreign buying and excitement over debutante Darma Henwa fueling momentum, dealers said. The Jakarta Stock Exchange composite index closed up 30.65 points at 2,361.01.
MANILA: Philippine share prices closed 1.0 per cent higher on thin volume as investors remained cautious, dealers said. The composite index gained 35.08 points to close at 3,475.75, off a high of 3,491.65 and a low of 3,449.64.
KUALA LUMPUR: Malaysian share prices closed up 0.3 per cent led by construction stocks, although trading volumes were light, dealers said. The Kuala Lumpur Composite Index closed up 4.46 points at 1,320.89.
SHANGHAI: Chinese share prices closed 1.61 per cent down with the market under pressure from liquidity concerns and investors cautious before a week-long national holiday. The benchmark Shanghai Composite Index ended down 87.36 pts at 5,338.52.
TOKYO: Japanese share prices rose 0.21 per cent on hopes of solid corporate earnings and an end to recent political uncertainty with a new govt now in place.