Fri, Feb 23, 2007 - Page 6 News List

Asian stocks soar to record high

TO THE TOP Japan's Nikkei 225 Stock Average exceeded 18,000 points for the first time since 2000 and Hong Kong's Hang Seng Index continued an impressive winning streak

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The subscriber numbers have "a positive impact on the stock price in the short term," said Pauline Dan, who helps manage US$1.8 billion at Manulife Asset Management in Hong Kong, including shares of China Mobile.

Tattersall's, Australia's second-largest gaming company, jumped 5.5 percent to A$4.4 (US$3.48). The company said first-half profit rose 54 percent to A$107.7 million on its acquisition of Unitab Ltd and increased betting on horse racing.

Oxiana, the fastest-growing of Australia's 10-largest mining companies, climbed 3.2 percent to A$2.87. The company said second-half profit surged more than fivefold to a record A$290 million after it added copper and zinc output as metal prices surged.

"Overall earnings have been at the top end of expectations," said Eric Betts, a strategist at Nomura Australia Ltd in Sydney. "Positive surprises are outnumbering negative surprises."

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