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Asian Shares Follow Wall Street High

Asian Shares Follow  Wall Street HighAsian Shares Follow  Wall Street High

Asian markets rose Friday following a record close on Wall Street, while the pound rallied against other major currencies after Scottish voters rejected independence from the United Kingdom.

The surge in New York -- fuelled by the Federal Reserve’s comments on interest rates as well as hopes for a record US listing of online giant Alibaba -- helped propel the dollar towards the 110 yen mark, AFP reported.

Tokyo climbed 1.58 percent, or 253.60 points, to 16,321.17, its highest close since November 2007, while Sydney added 0.32 percent, or 17.3 points, to 5,433.1 and Seoul advanced 0.30 percent, or 6.08 points, to 2,053.82.

Shanghai finished 0.58 percent higher, adding 13.52 points to 2,329.45, while Hong Kong gained 0.57 percent, or 137.44 points, to 24,306.16.

The euro tumbled to 0.7810 pounds in Tokyo, its lowest level since July 2012, while sterling rallied to $1.6525 and a six-year high of 180.71 yen.

But later in the day the euro stood at 0.7840 pounds, while the pound pulled back to $1.6450 and 179.42 yen.

 Mumbai unchanged

Mumbai was nearly unchanged, losing just 0.08 percent or 21.79 points to end at 27,090.42 points.

Rating agency Crisil rose 7.63 percent to 2,120.35 rupees, while Suzlon Energy lost 9.93 percent to 20.40 rupees.

Bangkok added 0.04 percent, or 0.68 points, to 1,584.91.

Bumrungrad Hospital lost 2.99 percent to 130.00 baht, while oil company PTT rose 1.14 percent to 354.00 baht.

Jakarta rose 0.37 percent, or 19.44, at 5,227.58.

Asia Pacific Fibers gained 5.71 percent at 74 rupiah, while Indah Kiat Pulp & Paper lost 0.82 percent at 1,205 rupiah.

Singapore closed up 0.24 percent, or 7.76 points, at 3305.05.

Singapore Telecommunications gained 1.06 percent to Sg$3.80, while DBS bank eased by 0.44 percent to Sg$18.13.

Kuala Lumpur edged 4.17 points higher, or 0.23 percent, to close at 1,849.49 on Friday.

Banking group RHB Capital surged 2.82 percent to 9.10 ringgit, while rival AMMB Holdings added 1.02 percent to close at 6.92 ringgit.

Taipei ended flat, edging up 3.42 points to 9,240.45.

Acer rose 1.52 percent to Tw$23.4 while Hon Hai fell 0.98 percent to Tw$101.0.

Wellington rose 0.53 percent, or 27.16 points, to 5,181.35.

Fletcher Building was up 0.46 percent at NZ$8.82 and Trade Me gained 0.29 percent to end at NZ$3.50.

Manila’s markets were closed owing to a huge storm battering the capital.

 

Financialtribune.com