HONG KONG, Aug 11: Asian stocks closed mixed on Thursday as ever steeper oil prices, which prompted a slide on Wall Street, and the prospect of rising interest rates dominated market sentiment, dealers said.
In Asia light sweet crude surged to a new all-time high of $65.17 a barrel, which coupled with the prospects of interest rate rises triggered falls in Jakarta and impacted on Seoul, Hong Kong and Shanghai.
Singapore, and Taipei eased also amid oil price jitters while the choking haze which has enveloped Kuala Lumpur weighed on its market, prompting fears the thick smog could generate an economic slowdown.
And a looming financial crisis at Thai Airways tipped Bangkok into negative territory.
India again did well, closing at an all-time high on foreign buying.
TOKYO: Share prices closed up 1.37 per cent at a four-year high with the market expecting early elections will increase political stability and amid predictions of healthy growth in the June quarter.
The Nikkei-225 index rose 165.24 points to 12,263.32, after soaring as high as 12,284.76 during trade.
Foreign investors have led this week’s rise.
Japanese investors “took heart from foreign investors, who placed net buy orders of 58.3 million shares ahead of the market opening, the largest figure I’ve seen for some time,” said Ryuta Ohtsuka, a strategist at Toyo Securities.
Among banks, industry leader Mizuho soared 16,000 yen to 531,000. Sumitomo Mitsui Financial Group surged 50,000 yen to 812,000 and UFJ added 25,000 to 623,000.
Oil shares jumped after crude futures hit a new record in New York.
Nippon Oil surged 39 yen to 873, Cosmo Oil added 21 yen per cent to 581 and Showa Shell was up 29 yen per cent at 1,236.
HONG KONG: Share prices closed 0.64 per cent higher on follow-through interest in blue chips after Wednesday’s strong rally and on fresh inflows of institutional funds.
The Hang Seng Index closed up 98.79 points at 15,445.20. Turnover was 28.0 billion Hong Kong dollars (3.6 billion dollars).
Lenovo Group gained 0.30 at 3.125, while China Mobile was up 0.75 at 35.20 after posting strong half-year gains Wednesday.
Properties traded mixed after banks raised lending rates, with Sun Hung Kai Properties up 0.75 at 81.55 and Cheung Kong down 0.45 at 87.15.
SYDNEY: Share prices closed at record highs for the fourth straight session on Thursday as investors traded banking, media and resources.
The SP/ASX 200 index closed up 35 points, or 0.79 per cent, at 4,460.6 on volume of 1.49 billion shares worth 5.13 billion dollars (3.95 billion US dollars).
The market was also boosted by the release of media giant News Corp’s record full-year profit overnight, they said.
The government expects to raise some 30 billion dollars by selling its 51.8 per cent stake in the telco provider.
SINGAPORE: Share prices closed 1.4 per cent lower amid soaring oil prices and concerns state-linked investment company Temasek Holdings might trim its stakes in some major firms.
Dealers said the market is expected to fall further in the near term as it shakes off excess gains from a recent rally fuelled by property and banks.
KUALA LUMPUR: Share prices closed 0.37 per cent lower amid concerns the choking haze crisis could result in an economic slowdown, and on overnight declines on Wall Street.
The composite index was down 3.43 points to 936.05 on volume of 372.77 million shares worth 687.73 million ringgit.
Among blue chips, Tenaga Nasional was flat at 11.30 ringgit, while Telekom Malaysia was up 0.10 at 11.10, but Malayan Banking was down 0.20 at 11.30.
AmInvestment Group was up 0.02 at 1.89, after a 72 per cent increase in its net profit for the first quarter to June.
JAKARTA: Share prices closed 0.75 per cent lower amid concerns a possible government plan to raise fuel prices again this year will stoke inflation and interest rates.
The market was technically bound to fall as Wednesday’s rise lacked the trading volume to sustain the gains, said Andalan Artha Advisindo Sekuritas analyst Arianto Reksoprodjo.
The composite index closed down 8.866 points at 1,167.972 on volume of 1.51 billion shares valued at 1.21 trillion rupiah (122.53 million dollars).
WELLINGTON: Share prices rose 0.18 per cent, with most investors remaining cautious despite strong turnover and gains in the Australian market.
ABN Amro Craigs dealer Nigel Scott said the market appeared to be treading water after a week of profit-taking following good company results.
The NZSX-50 gross index closed 6.12 points higher at 3,330.42 on turnover of 208 million dollars (145.9 million US).
Market leader Telecom accounted for more than half the value of turnover, rising four cents to 6.12 dollars.
MUMBAI: Share prices jumped 1.12 per cent to a fresh closing high as overseas investment funds bought index heavyweights, such as pharmaceutical and consumer goods companies.
The Sensex index climbed by 86.69 points or 1.12 per cent to 7,816.51 on volume of 41.39 billion rupees (951 million dollars).—AFP
Dear visitor, the comments section is undergoing an overhaul and will return soon.