Asia Roundup: Buoyed by gains in commodities

HONG KONG: Asian shares closed mainly higher amid thin trade yesterday with strong oil and metals prices boosting energy and mining-related stocks.

Volume was subdued in most markets because of the Christmas and New Year holiday season.

Optimism about corporate earnings and the economic outlook boosted the Shanghai market and spurred Tokyo to its highest finish since August 26 and within striking distance of its 2009 high.

TOKYO: Up 0.04 per cent. The Tokyo Stock Exchange's benchmark Nikkei-225 index rose 3.83 points to 10,638.06.

Companies with a large exposure to overseas markets were lifted by easing worries about the recent strength of the Japanese yen, as the dollar rebounded to 91.72 yen, up from 91.62 in New York late on Monday.

SHANGHAI: Up 0.72 per cent. The Shanghai Composite Index, which covers both A and B shares, was up 22.98 points at 3,211.76.

Analysts said market optimism about corporate earnings had outweighed concerns that the government may take more steps to curb fast-rising property prices.

SEOUL: Down 0.78 per cent. The benchmark Kospi fell 13.11 points to 1,672.48.

Monday was the deadline for entitlement to 2009 dividend payments, and institutional investors were net sellers of 231.8 billion won worth of shares.

TAIPEI: Down 0.05 per cent. The weighted index fell 3.66 points to 8,053.83.

BANGKOK: Up 1.15 per cent. The Stock Exchange of Thailand (SET) composite index gained 8.45 points to close at 742.16 points.

JAKARTA: Up 0.37 per cent higher. The Jakarta Composite Index gained 9.30 points to 2,518.99.

Coal miner Bumi Resources rose 4.2 percent to 2,500, while palm oil company Sampoerna Agro rose 4.7 percent to 2,775 rupiah on higher commodity prices.

MANILA: Up 0.65 per cent higher. The composite index gained 19.84 points to 3,052.68 points while the all-shares index rose 0.82 percent to 1,918.64 points.

SYDNEY: Up 1.13 per cent. The benchmark S&P/ASX 200 index added 54.2 points to close at 4,845.1.

MUMBAI: Up 0.24 per cent yesterday. The 30-share benchmark Sensex ended the day 40.95 points up at 17,401.56.