Asian oil stocks rose, paced by Inpex Holdings Ltd and CNOOC Ltd (
Samsung Electronics Co led exporters lower on concern US spending will slow after the world's biggest economy unexpectedly lost jobs. Mitsubishi UFJ Financial Group Inc, Japan's biggest lender, slid after the nation's economy shrank and Nomura Holdings Ltd. cut its rating on bank stocks.
Advanced Semiconductor Engineering Inc (
PHOTO: AFP
The Morgan Stanley Capital International Asia-Pacific Index was little changed this week at 152.38, after climbing 11 percent in the previous three weeks. A measure of energy stocks that includes Inpex had the biggest gain among the benchmark's 10 industry groups, while technology stocks lost the most.
Japan's NIKKEI 225 Stock Average was little changed at 16,127.42, while the broader TOPIX Index lost 0.8 percent this week. Sun Hung Kai Properties Ltd (新鴻基地產) led Hong Kong's Hang Seng Index to its third straight record on Friday. Benchmarks elsewhere in the region advanced except in South Korea, Indonesia, Malaysia, India and the Philippines.
Inpex, Japan's largest energy explorer, rose 5.6 percent to ?1.13 million (US$9,858.12). CNOOC, China's biggest offshore oil producer, advanced 5.7 percent to HK$10.30 (US$1.32), a record.
Hong Kong's Hang Seng Index jumped 3.8 percent this week to close at a record on Friday for a third straight day. Sun Hung Kai, the city's No. 1 developer by market value, climbed 14 percent to HK$121. Cheung Kong (Holdings) Ltd (長江實業), the second-largest developer, added 9.6 percent to HK$127.80, its highest close on record.
TAIPEI
Taiwanese share prices closed 1.17 percent higher alongside firmer overseas markets, as companies with strong operations in China led gains amid strong demand there.
Dealers said Chang Hwa Bank (
The TAIEX closed up 104.21 points at 9,031.63 on turnover of NT$115.39 billion (US$3.49 billion).
The upswing in regional markets such as Japan, South Korea and Hong Kong encouraged investors here to follow suit, giving a boost to Taiwanese companies -- particularly those with exposure to the China market in the run-up to long holidays there next month, dealers said.
"Now we have a [good] cycle, with New York leading regional markets, including the local bourse, to score gains following yesterday's declines," said Johnny Lee, a manager with President Securities (
TOKYO
Japanese share prices closed up almost two percent after Wall Street staged a strong rally overnight on hopes for a turnaround in the troubled US auto industry.
Dealers said investors were also encouraged by a softer yen.
The Tokyo Stock Exchange's benchmark NIKKEI-225 index of leading shares rose 306.23 points or 1.94 percent to end the day at 16,127.42, ending above the key 16,000 points level for the first time in a week ahead of a three-day weekend.
HONG KONG
Hong Kong share prices closed at a record high again, up 1.47 percent, as property stocks continued to shine on hopes of lower interest rates. The Hang Seng Index closed up 361.09 points at 24,898.11.
SHANGHAI
Chinese share prices closed 0.73 percent up after volatile trade led by steel and machinery stocks.
The Shanghai Composite Index, which covers both A and B shares, closed up 38.59 points at 5,312.18.
SEOUL
South Korean share prices closed sharply higher as foreign investors snapped up shares of shipbuilders, steelmakers and retailers amid hopes that their earnings will not be hit by any US economic slowdown.
The KOSPI index ended 22 points higher at 1,870.02.
SYDNEY
Australian share prices closed up 1.2 percent as concerns over mortgage defaults in the US appeared to ease. The S&P/ASX 200 closed 76.2 points higher at 6,306.8.
SINGAPORE
Singapore share prices closed 0.9 percent higher as investors, buoyed by Wall Street's overnight rally, bought into property stocks and select blue chips. The Straits Times Index rose 32.00 points to 3,536.40.
MUMBAI
Indian share prices erased intraday gains to close flat after investors were rattled by Europe's weak opening on global credit concerns.
"The markets saw strong gains intraday but fell as European markets weakened. We may still see record highs next week," a dealer with brokerage Prabhudas Lilladher said.
The SENSEX fell 10.64 points to 15,603.8.
KUALA LUMPUR
Malaysian share prices closed 0.4 percent higher due to bargain hunting following a rally on Wall Street overnight.
The composite index closed up 5.48 points at 1,289.50.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day