Most Asian stock markets close higher
Most Asian stock markets close higher
HONG KONG (AP): Most Asian stock markets ended the week higher
Friday, boosted by sharp overnight gains on Wall Street.
Hong Kong's blue-chip Hang Seng Index rose 619.02 points, or
4.3 percent, to close at 15,111.94. On Wednesday, the index had
slumped 283.98 points, or 1.9 percent.
The Hong Kong market was closed on Thursday for a public
holiday.
Brokers said bargain-hunters stepped into the market following
sharp gains Thursday on Wall Street, where the Dow Jones
industrial average rose 178.19, or 1.7 percent, to 10,545.97.
The tech-laden Nasdaq composite index rose 114.85, or 3.4
percent, at 3,499.58.
Thursday's rebound on Wall Street came after a report of a
slowdown in U.S. retail sales calmed investors who have been
selling stocks amid fears about rising interest rates ahead of a
Federal Reserve policy-board meeting Tuesday.
The Japanese benchmark 225-issue Nikkei Stock Average gained
475.40 points, or 2.8 percent, to close at 17,357.86. On
Thursday, the average closed down 819.01 points, or 4.63 percent.
Buying in Tokyo centered on information technology issues in
line with a similar move in U.S. stocks Thursday.
In currency trading, the U.S. dollar was quoted at 108.30 yen,
down 1.40 yen from its late level Thursday in Tokyo and also
below its overnight New York level of 108.53 yen.
Taiwan shares also closed higher, boosted by overnight gains
in U.S. stocks. The Weighted Stock Price Index rose 210.53
points, or 2.5 percent, to 8,560.44.
Thai shares surged on a strong rebound. The Stock Exchange of
Thailand Composite Index rose 9.13 points, or 2.7 percent, to
345.67.
Bucking the trend was the Seoul Stock Exchange, where prices
fell due to foreign selling in blue chips. The Korea Composite
Stock Price Index fell 19.21 points, or 2.5 percent, to 740.30.
In Jakarta, Indonesian shares closed lower on fears of a
possible interest rate hike. The Composite Index fell 0.4
percent, or 2.324 points, to 526.877.
In Singapore, share prices closed higher on a technical
rebound following a 2.6 percent slide Thursday, and the overnight
gains on Wall Street. The Straits Times Index rose 1.1 percent,
or 22.93 points, to close at 2,026.65.
In Manila, Philippine stocks closed higher on a technical
rebound following recent losses. The 30-company Philippine Stock
Exchange Index rose 34.10 points, or 2.3 percent, to 1,539.31.
In Sydney, Australian share prices closed higher, driven by
investor demand for telecommunication and technology stocks. The
All Ordinaries Index rose 37.2 points, or 1.2 percent, to 3,004.
In Kuala Lumpur, Malaysian shares closed lower on jitters over
a possible rise in U.S. rates. The Composite Index of 100 blue-
chip stocks closed fell 8.05 points, or 0.9 percent, to 912.66.
In Wellington, New Zealand share prices closed higher on
selective buying in telecommunications-related stocks. The
benchmark NZSE-40 Capital Index rose 9.55 points, or 0.5 percent,
to 2,030.37.