HONG KONG: Asian markets gained for a second consecutive day yesterday, helped by strong commodities stocks as a fresh rally on Wall Street bolstered investor confidence.
Bourses around the region were helped by a surge in gold prices to record highs, as investors poured money into commodities in the hope that demand is returning.
Wall Street shares lifted 1.37 per cent to extend their rally for a second day on Tuesday as risk appetites were whetted by Australia's earlier decision to raise interest rates.
TOKYO: Up 1.11 per cent. The Nikkei-225 added 107.80 points to 9,799.60.
Although the Nikkei gained, "market sentiment is not necessarily improving much" because of worries over the strong yen and corporate earnings, Nikko Cordial Strategist Tsuyoshi Kawat said.
SYDNEY: Up 2.23 per cent. The SP/ASX200 rose 104.1 points to 4,695.7.
But the move was now seen as a "vote of confidence in the strength of the domestic economy and our biggest Asian trading partners", an IG Markets research analyst said.
SEOUL: Flat. The KOSPI ended down 0.44 points at 1,598.00. The won is up almost 7 per cent since August. Many investors were also cautious about the central bank's monetary policy meeting this Friday, after Australia's rate rise.
TAIPEI: Up 0.96 per cent. The weighted index rose 72.61 points to 7,608.66.
"The market was healthy as the trading volume expanded in tandem with the rise," an analyst said.
The rise of the Taiwan dollar against the greenback also prompted investors to target asset-related stocks, he added.
BANGKOK: Up 1.44 per cent. The Stock Exchange of Thailand gained 10.53 points to close at 741.92.
JAKARTA: Down 0.58 per cent. The Jakarta Composite Index lost 14.74 points to 2,513.40.
"It's a healthy correction," a trader said.
MANILA: Up 2.86 per cent. The composite index gained 82.60 points to 2,967.06.
Even the damage in the Philippines caused by tropical storm Ketsana and Typhoon Parma in recent weeks did not deter investors, who see local companies still doing well this year, an analyst said.
MUMBAI: Down 0.9 per cent. The 30-share Sensex fell 151.88 points to 16,806.66. - AFP
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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