Regional stock markets end higher

Regional stock markets end higher

HONG KONG (AP): Asian stock markets rallied Wednesday, with
overnight gains on Wall Street driving many markets' rebounds.

In Jakarta, Indonesian shares ended sharply higher on a
technical rebound after recent sharp losses. The JSX Composite
Index closed up 4.5 percent, or 26.041 points, at 599.257 points.

In Japan, the benchmark 225-issue Nikkei Stock Average rose
117.19 points, or 0.67 percent, to close at 17,579.91. On
Tuesday, the average closed down 28.62 points, or 0.16 percent.

Singapore shares surged as investors anticipated strong first-
half corporate earnings to be released in the next few weeks. The
benchmark Straits Times Index rose 78.23 points, or 3.9 percent,
to close at 2,077.65.

Philippine share prices also ended sharply higher in the
largest single trading-day gain in three months, with investors
encouraged by New York's gains.

The 30-company Philippine Stock Exchange Index closed at
2,352.97 points, up 89.85 points, or 4 percent - the largest one-
day gain since April 21.

In Hong Kong, the blue-chip Hang Seng Index closed up 65.33
points, or 0.05 percent, at 13,140.42. On Tuesday, the index had
risen 208.57 points, or 1.6 percent.

Financial markets in Thailand were closed for a holiday.

In Taipei, the weighted Stock Price Index finished 116.53
points higher, or up 1.6 percent, at 7,484.50.

In Seoul, the Korea Composite Stock Price Index rose 1.7
percent, or 15.61 points, to 944.46.

In Sydney, the All Ordinaries Index ended up 6.7 points, or
0.2 percent, at 3,059.8.

In Wellington, the NZSE-40 capital index ended up 21.69
points, or 1.0 percent, to 2,184.59.

In Kuala Lumpur, Malaysian share prices closed lower as
investors cashed in on recent gains. The benchmark Composite
Index ended down 13.82 points, or 1.7 percent, at 782.38.