Tokyo's Nikkei leads way as Asian bourses gain
Tokyo's Nikkei leads way as Asian bourses gain
HONG KONG (Reuter): Tokyo stocks hit a 19-month high yesterday as most Asian stock markets gained, buoyed by the U.S. Federal Reserve's interest rate cuts overnight.
The Hong Kong, Taipei, Seoul, Manila and Jakarta bourses rose, but inflation worries kept Bangkok subdued, dealers said.
Tokyo's key Nikkei index climbed 122.38 points or 0.59 percent to finish at 20,935.12 as active buying of low-priced, large- capital issues overwhelmed profit-taking by domestic institutions. It was the Nikkei's highest close since June 23, 1994 when it ended at 21,040.21.
The blue-chip Hang Seng Index in Hong Kong edged up 3.10 points to end at 11,362.80, off an intraday low of 11,278.70.
Taiwan's weighted index closed 11.88 points or 0.25 percent higher to 4,775.28.
In Seoul, the composite index closed 6.31 points higher at 885.13.
The Philippine key index advanced 15.07 points, settling at 2,900.83, on account of buying in secondliners.
Jakarta share prices ended higher on continued foreign-led buying in liquid heavyweight stocks.
The Jakarta composite index rose 2.50 points, or 0.43 percent, to close at 581.06 points after touching the day's high of 586.45.
The SET index in Bangkok closed at 10.73 points down at 1,399.
The 30-share Bombay Stock Exchange (BSE) index broke through the psychological 3,000 level to finish at a provisional 3,001.42, up 69.58 points, or 2.37 percent, brokers said.
The Kuala Lumpur Stock Exchange Composite Index ended up 2.53 points at 1,055.42, after hitting an intraday high of 1,067.50.
The Straits Times Industrials Index in Singapore ended up 3.10 points to 2,452.25.
The All Ordinaries index in Sydney was 3.4 points lower at 2285.1.
In London, the FTSE 100 index was trading at 3,753.0, down 6.3 points.
The CAC-40 index in Paris was up 2.76 points at 2,023.79.
Frankfurt's 30-share DAX was down 10.88 at 2,459.26.