Sun, Sep 02, 2007 - Page 10 News List

Asian markets post gains for second week

GOING UP Strong regional markets propped up Taiwanese stocks, with locals firms' exposure to the Chinese market encouraging investors to chase share prices higher

BLOOMBERG AND AFP

SHANGHAI

Chinese share prices closed up 0.99 percent at another record high, with the airline sector in focus following strong corporate earnings from domestic carriers.

The Shanghai Composite Index, which covers both A and B shares, closed up 50.94 points at a record 5,218.83.

SEOUL

South Korean share prices closed sharply higher on hopes the US subprime mortgage problems will be solved soon, with the KOSPI index jumping to near its pre-crisis level. The KOSPI index ended up 31.54 points at 1,873.24.

SYDNEY

Australian share prices closed sharply higher to reach their best level in five weeks as investors focused on strong economic data and good corporate earnings.

The S&P/ASX 200 gained 112.2 points to 6,247.2.

Key market indexes were not available for most of the early session owing to a technical problem, but trading continued.

SINGAPORE

Share prices closed 2.16 percent higher, amid solid gains around the region, as buying in bank stocks helped boost the key index.

The Straits Times Index closed up 71.76 points at 3,392.91.

BANGKOK

Thai share prices closed 2.73 percent higher as sentiment turned upbeat. The composite index rose 21.63 points to 813.21.

MANILA

Philippine share prices closed 1.35 percent higher, extending gains on the back of better-than-expected economic growth data for the three months to June.

The composite index added 44.95 points to 3,365.29.

MUMBAI

Indian shares closed 1.3 percent higher, helped by data showing unexpectedly strong first quarter GDP growth.

The benchmark 30-share SENSEX index rose 196.86 points to 15,318.60, its sixth straight gain.

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