Asia Roundup: Higher on eurozone, US leads

HONG KONG: Asian markets rose yesterday, taking a lead from Wall Street and extending a recent rally on hopes that eurozone leaders will be able to hammer out a solution to the region's sovereign debt crisis.

Tokyo stocks closed at their highest level in nearly a month. The benchmark Nikkei 225 index gained 84.35 points, or 0.97 per cent, to 8,823.25, the highest finish since September 16.

Exporters gained from the yen's drop against the euro amid rising hopes that officials would formulate a plan to shore up the eurozone's banking system, brokers said.

Kazuhiro Takahashi, general manager of investment strategy and research at Daiwa Securities, said focus had shifted to a steadier global economic outlook amid growing expectations for European policy measures.

In Shanghai, the composite index gained 18.79 points, or 0.78 per cent, to 2,438.79, as investors await key inflation data.

"The market still stayed positive after the sharp gain yesterday (on Wednesday), while investors are also looking at tomorrow's (Friday) CPI release," Zhang Yanbin, an analyst at Zheshang Securities, said.

In Sydney, the benchmark S&P/ASX 200 was up 40.2 points, or 0.96 per cent, at 4,244.5 and Seoul's Kospi ended 13.60 points, or 0.75 per cent, higher at 1,823.10.

Regional market sentiment was lifted by news that Slovakia's political parties had agreed to hold a new vote this week that could see the expansion of the eurozone emergency fund approved by today.

The market appears "a little bit more optimistic that Europe is going to get... together on the banking crisis", said David Gilmore, analyst at New York's Foreign Exchange Analytics.

However, Yutaka Miura, a senior technical analyst at Mizuho Securities, noted: "Markets have been rising solely on the back of expectations (for Europe) so it's going to be a bit shaky from here."

* Taipei rose 0.62 per cent, or 45.98 points, to 7,428.33.

* Mumbai shares fell 0.44 per cent or 74.47 points to 16,883.92.

* Bangkok fell 1.67 per cent or 15.95 points to close at 936.82.

* Jakarta shares rose 39.45 points or 1.09 per cent to 3,675.38.

* Manila gained 0.36 per cent, or 14.77 points, to 4,134.48. - AFP

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sun wrote:hlk, if you simple affin-ce in the peti sejuk till now then huat big liao, sometimes uncle style diam diam can make tons
haiz,.. hor sayang

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hlk wrote:

sun wrote:hlk, if you simple affin-ce in the peti sejuk till now then huat big liao, sometimes uncle style diam diam can make tons
haiz,.. hor sayang

yaloh its my 1st time holding half sen cw ...

but very scary to hold also, if drop to zero then more nightmare

sun wrote:

hlk wrote:

sun wrote:hlk, if you simple affin-ce in the peti sejuk till now then huat big liao, sometimes uncle style diam diam can make tons
haiz,.. hor sayang

yaloh its my 1st time holding half sen cw ...

but very scary to hold also, if drop to zero then more nightmare

if u considered it s gone case don monitor so often u might b rewarded w more
profit once mkt pick up ... "small knife cut big tree" ...