Asia Roundup: Mostly higher

HONG KONG: Asian stock markets mostly rose for a second straight day yesterday after another Wall Street rally followed a better-than-expected batch of US consumer spending data.

A slight rebound in confidence and news of merger plans in Greece's banking sector also boosted risk sentiment, while oil prices edged up on hopes for demand growth in the US.

Tokyo share prices closed up 1.16 per cent. The benchmark Nikkei 225 index gained 102.55 points to 8,953.90.

The US consumer spending data and a slightly weaker yen spurred the rebound of exporters and financial stocks that have been battered in recent weeks, said Toshiyuki Kanayama, senior market analyst at online brokerage firm Monex.

Investors, happy to see the end of a turbulent August approaching, were braced for key US non-farm payroll figures on Friday, lending some caution to a general sense of optimism.

Seoul ended 0.78 per cent, or 14.32 points, higher at 1,843.82 and Sydney added 0.14 per cent, or 5.9 points, to 4,269.2.

But ongoing concerns about liquidity send Shanghai down to end 0.38 per cent, or 9.82 points, lower at 2,566.59.

Dealers will now be looking to the upcoming release of key data from the US, including jobs, consumer confidence, manufacturing and factory orders, for a clearer idea of the state of the economy.

"Signs of a market-based and economic recovery are in the wind as a turbulent month draws to a close," said Ben Le Brun, market analyst at CMC Markets in Sydney.

On other markets:

* Mumbai rose 1.59 per cent, with the benchmark 30-share Sensex on the Bombay Stock Exchange closing up 260.42 points to 16,676.75.

* Taipei rose 0.90 per cent, or 68.18 points, to 7,646.19.

* Bangkok fell 1.01 per cent, or 10.66 points, to 1,044.97.

Manila, Singapore and Jakarta were closed for public holidays. - AFP