Asian stocks close sharply higher, led by Wall Street
HONG KONG, Oct 31 (AFP): Asian stocks closed sharply higher Monday on the back of a strong rally on Wall Street where robust growth figures shook off concerns over the indictment of a key White House aide, dealers said.
Gains were across the boards in Asia-Pacific although in thin volumes with trading to remain heavily interrupted this week amid a string of public holidays.
Hong Kong share prices closed 1.20 per cent higher on a technical rebound, with Wall Street's rally Friday supporting local sentiment. The Hang Seng Index was up 170.54 points at 14,386.37. Turnover was 16.65 billion Hong Kong dollars (2.1 billion US). Among blue chips and conglomerates, HSBC gained 0.70 to 121.30, Hutchison Whampoa up 1.60 at 73.40, Swire Pacific up 0.75 at 69.50 and China Mobile up 0.70 at 34.50.
MUMBAI: Share prices surged 2.69 per cent in low volume trade as domestic and overseas funds bought leading benchmark index shares.
The Sensex closed up 206.68 points at 7,892.32. Turnover was low at 21.10 billion rupees (467 million dollars) as 1,468 stocks gained.
TOKYO: Share prices closed 1.95 per cent higher, boosted by strong gains on Wall Street and by investors picking up companies that posted strong earnings.
"TOPIX was strong, meaning that domestic-demand-related shares, such as banks and construction, were strong," said Otsuka, adding: "I think this is partly due to expectations of further structural reform." The Nikkei-225 index rose 259.96 points to 13,606.50 on volume of 2.71 billion shares.
SEOUL: Share prices closed 1.52 per cent higher as institutions came back into the market after heavy losses, buoyed by Wall Street's sharp gains Friday on strong third quarter growth figures. The KOSPI index rose 17.39 points to 1,158.11. Volume was 315 million shares worth 2.6 trillion won (2.48 billion dollars).
TAIPEI: Share prices closed 2.33 per cent higher, rebounding after recent sustained losses following Wall Street's lead Friday on better-than-expected third quarter US growth data. The weighted index closed up 131.33 points at 5,764.30 on turnover of 73.18 billion Taiwan dollars (2.18 billion US). TSMC was up 1.60 at 52.00 dollars while UMC added 1.05 at 17.80, with the stock having been under pressure for some time. Nanya Technology was limit-up 1.05 at 16.70 and Winbond Electronics limit-up 0.51 at 7.92.
SHANGHAI: Share prices closed 1.11 per cent higher with oil refiners supported by bargain-hunting and banks in favor after robust third-quarter results. The Shanghai A-share Index gained 12.61 points to 1,148.88 on turnover of 6.47 billion yuan (798 million dollars) while the Shenzhen A-share Index was up 2.29 points or 0.84 per cent at 275.96 on turnover of 3.91 billion yuan. The benchmark Shanghai Composite Index, which covers both A- and B-shares, rose 11.95 points or 1.11 per cent at 1,092.82 on turnover of 6.52 billion yuan.
SINGAPORE: Share prices closed 1.11 per cent higher, on a technical rebound supported by Friday's sharp gains on Wall Street after strong US third quarter growth figures. The Straits Times Index rose 24.36 points to 2,216.77. Volume totalled 675 million shares worth 910 million Singapore dollars (538 million US).
KUALA LUMPUR: Share prices closed 0.55 per cent higher on support for selected blue chips after last Friday's sharp gains on Wall Street. The Composite Index rose 4.97 points to 910.76 and volume traded was 237.45 million shares worth 519.62 million ringgit (137.65 million dollars).
BANGKOK: Share prices closed flat as investors traded with caution ahead of a US Federal Reserve meeting amid speculation over another rate hike. The Composite Index rose just 0.37 points to 682.62.
JAKARTA: Share prices closed 0.75 per cent higher in quiet trade ahead of the long Eid-al-Fitr holiday from Wednesday. The Composite Index added 7.968 points at 1,066.224 on volume of 479.38 million shares worth 728.10 billion rupiah (72.81 million dollars.)