Asian markets finish mostly higher following U.S. gains
Asian markets finish mostly higher following U.S. gains
Associated Press, Hong Kong
Prices in Tokyo and most other smaller Asian markets rose on Wednesday as investors took cues from Wall Street's rally the day before.
Japan's Nikkei Stock Average of 225 stocks advanced 189.36 points, or 1.72 percent, to 11,152.09 points. On Tuesday, the index shed 138.71 points, or 1.25 percent.
Investors bought shares of leading Japanese exporters and technology companies. Gainers included Toyota, Canon, Sharp and telecommunications giant NTT. Supermarket chains Aeon and Ito- Yokado also closed higher.
In New York on Tuesday, signs of a stabilizing economy and a sharp decline in oil prices boosted market sentiment. The Dow Jones industrial average closed up 159.19, or 1.6 percent, at 10,117.62.
In currency dealings, the U.S. dollar declined against the Japanese yen. It fetched 111.50 yen in Tokyo late on Wednesday, down 1.26 yen from late on Tuesday in Tokyo and below the 111.77 yen it bought in New York late on Tuesday.
In Bangkok, Thai shares rose as traders bought blue chips with a focus on banking issues. The Stock Exchange of Thailand Index finished 8.09 points, or 1.3 percent higher, at 609.60.
In Kuala Lumpur, Malaysian shares closed higher on gains by companies that reported better-than-expected first-quarter results. The Composite Index of 100 blue chips gained 2.77 points, or 0.4 percent, ending at 799.25 points.
In Manila, Philippine shares rose on expectation of positive first-quarter economic data. The 30-company Philippine Stock Exchange Index gained 13.75 points, or 1.0 percent, to 1,507.65.
In Singapore, prices advanced after on Tuesday's decline in oil prices. The Straits Times Index ended 10.28 points, or 0.6 percent higher, at 1,776.70.
In Sydney, Australian shares were led higher by a rise in gold prices. The All Ordinaries Index jumped 29.70 points, or 0.9 percent, to 3,425.20.
In Taipei, Taiwan's shares were lifted by the on Tuesday advance of U.S. markets. The Weighted Price Index rose 68.89 points, or 1.2 percent, to 6,027.27.