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Asian stocks close sharply mixed as investors cautious

          HONG KONG, Oct 11 (AFP): Asian stocks closed sharply mixed on Tuesday with inflationary fears again haunting investors, who remain cautious after last week's sell-off, dealers said.
They said losses suffered in some markets were mild and reflected the down beat mood in New York while elsewhere local issues dominated trade and supported solid gains.
MUMBAI: Share prices closed 0.67 percent higher with software stocks in the lead after Infosys Technologies reported strong second quarter earnings.
Dealers said early morning trade was volatile but that sentiment improved as the markets looked at the detailed earnings of Infosys, India's second largest software exporter.
The 30-share Sensex index rose 56.7 points to 8,540.56 on turnover of 28.25 billion rupees (631 million dollars) as 645 stocks rose and 1,803 declined.
TOKYO: Share prices notched up the biggest one-day gain in more than three years, snapping back from last week's heavy losses as investors responded positively to upbeat machinery orders data.
Dealers said investors also welcomed news that the lower house of parliament had passed Prime Minister Junichiro Koizumi's plans to privatize the massive post office, which is in effect the world's largest financial institution.
The Nikkei-225 index gained 328.97 points to 13,556.71 on turnover of 2.7 billion shares. The Japanese market was closed on Monday for a public holiday.
SEOUL: Share prices closed 1.39 percent higher with investors buoyed by the central bank chief's upbeat comments about the economy.
Dealers said the comments, which were delivered after the central bank raised the key interest rate for the first time in more than three years, were sufficient to lift the market.
The KOSPI index closed up 17.09 points at the day's high of 1,244.27 on volume of 497 million shares worth 3.6 trillion won (3.5 billion dollars).
HONG KONG: Closed.TAIPEI: Share prices closed 0.25 percent lower as losses in the bellwether technology sector offset gains in financial stocks after President Chen Shui-bian reaffirmed his commitment to industry reform.
Dealers said the tourism sector outperformed on hopes that the government will take steps to boost tourist arrivals from the mainland.
SHANGHAI: Share prices closed 1.59 percent higher on bargain hunting after losses Monday as chemical firms and Internet companies found some support.
Dealers said sentiment was lifted by upbeat third quarter forecasts and hopes the plenary meeting of the ruling Chinese Communist Party would deliver another policy boost for the markets.
The Shanghai A-share Index added 19.07 points to 1,216.02 on turnover of 6.34 billion yuan (782 million dollars) while the Shenzhen A-share Index was up 5.39 points or 1.88 percent at 292.79 on turnover of 4.22 billion yuan.
SINGAPORE: Share prices closed 0.49 percent higher, continuing to find support from indications of stronger economic growth this year but profit-taking limited gains.
Advance estimates released by Singapore's trade ministry Monday showed gross domestic product (GDP) expanded 6.0 percent in the third quarter to September from the previous year, faster than the revised 5.40 percent growth rate in the second quarter.
KUALA LUMPUR: Share prices closed little changed in rangebound trade with investors sidelined ahead of the third-quarter earnings season.
The composite index shed 0.45 points to 928.43 and volume was 389.21 million shares worth 547.24 million ringgit (145.10 million dollars).
Among blue chips, Tenaga Nasional was up 0.10 ringgit at 10.80, Telekom Malaysia was flat at 10.20 while Malayan Banking was down 0.10 at 11.40.
BANGKOK: Share prices rose 0.29 percent in last minute buying of bluechip energy shares amid otherwise sluggish trading.
The composite index gained 2.08 points to 709.13 with turnover at 1.9 billion shares worth 12.9 billion baht (315.2 million dollars) traded.
JAKARTA: Share prices closed 0.26 percent higher as continued support for gas distributor Perusahaan Gas Negara (PGN) and Indosat offset profit-taking elsewhere.
The composite index rose 2.849 points to 1,105.629 on volume of 591.78 million shares worth 785.66 billion rupiah (78.25 million US dollars).
"Technically the market is overbought, but for it to fall further -- it lacks a trigger," said Valbury Asia Securities analyst Krishna Dwisetiawan.
MANILA: Share prices closed 0.76 percent higher as investors chased stocks of companies expected to report strong profits for the three months to September.
Dealers said foreign investors have been gradually accumulating stocks with robust earnings prospects, taking advantage of low prices and lingering political concerns that have kept most Filipino players on the sidelines.
The composite index added 14.80 points to 1,964.22. Turnover was 313.19 million shares worth 1.24 billion pesos (22.24 million dollars).


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