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Asian stocks close mostly higher on Wall Street, oil prices


HONG KONG, Nov 8 (AFP): Asian stocks closed mostly higher Tuesday in response to a better performance by Wall Street and another easing in oil prices which has taken some of the sting out of inflation, dealers said.
Dealers also said the rise was in part technical given modest falls recorded Monday and that the prospect of further interest rate hikes remain.
Hong Kong share prices closed 0.26 per cent higher on a technical rebound after Monday's sharp fall, with overall trade cautious. The Hang Seng Index closed up 37.41 points at 14,403.20. Turnover was 15.35 billion Hong Kong dollars (1.97 billion US).
MUMBAI: Share prices closed up 1.35 per cent in volatile trade led by software companies. The Sensex index rose 110.97 points to 8,317.8 on trading volumes of 28.74 billion rupees (632 million dollars). The markets have now risen for five consecutive trading sessions.
Dealers said India's largest software exporter Tata Consultancy Services rose after it announced a 23 million dollar acquisition of Comicrom, a Chilean business process outsourcing firm. Tata Consultance rose 16.5 rupees or 1.13 per cent to 1,475.15.
TOKYO: Share prices closed 0.17 per cent lower as investors took a breather after the market's rise to a series of four-year highs. The Nikkei-225 index fell 24.87 points to 14,036.73 but managed to hold above the symbolic 14,000 mark.
SEOUL: Share prices closed 0.68 per cent higher as solid consumer confidence sparked expectations of an economic recovery. The KOSPI index closed up 8.24 points at 1,226.71. Volume was 406 million shares worth 3.1 trillion won (2.96 billion dollars).
TAIPEI: Share prices closed 0.18 per cent lower as early gains made on the back of Wall Street's overnight advance gave way to a note of caution ahead of October corporate sales figures. "The benchmark index moved in a narrow band and trade was thin, indicating a note of caution awaiting clearer market direction." The weighted index fell 10.76 points at 5,849.63 on turnover of 52.91 billion Taiwan dollars (1.57 billion US).
SHANGHAI: Share prices closed 0.85 per cent higher as automakers and real estate developers attracted bargain-hunting, with the tone continuing firmer. The Shanghai A-share Index added 9.88 points to 1,166.97 on turnover of 6.69 billion yuan (825 million dollars) while the Shenzhen A-share Index was up 1.82 points or 0.65 per cent at 282.39 on turnover of 3.86 billion yuan. The Shanghai Composite Index, which covers A and B-shares, rose 9.50 points or 0.86 per cent at 1,110.15 on turnover of 6.72 billion yuan.
SINGAPORE: Share prices closed 0.66 per cent higher, lifted by Wall Street's overnight gains and weaker oil prices. The Straits Times Index climbed 14.91 points to 2,271.99. Volume reached 848 million shares valued at 703 million Singapore dollars (413 million US).
KUALA LUMPUR: Share prices closed 0.27 per cent lower Tuesday on concerns about inflation fueling rising interest rates and the spread of bird flu, dealers said. The Kuala Lumpur Composite Index fell 2.43 points to 909.10 on volume of 215.80 million shares worth 451.19 million ringgit (119.44 million dollars) while losers outnumbered gainers 427 to 206. The ringgit was traded at 3.7775 to the US dollar and 4.4297 to the euro.
BANGKOK: Share prices closed 0.73 per cent lower after authorities ordered that shares in Thai Petrochemical Industry could only be acquired with cash. The Composite Index shed 5.15 points to 695.60. Turnover stood at 2.0 billion shares worth 11.4 billion baht (284 million dollars) traded.
MANILA: Share prices closed up 0.83 per cent, hitting five-month highs after market-leader Philippine Long Distance Telephone (PLDT) posted record results which helped confirm the recent more positive tone. The Composite Index rose 16.88 points to 2,046.93. Turnover was 359 million shares worth 1.04 billion pesos (19 million dollars). PLDT unit Pilipino Telephone advanced 15 centavos to 3.25 pesos.