Sun, Mar 30, 2014 - Page 15 News List

Asian stocks rise after two weeks’ losses

STRONG REBOUND:After rising four of five days this week, the MSCI Asia Pacific Index gained 2.9 percent, the most since the period ended on April 26 last year

Staff writer, with agencies

South Korea’s KOSPI climbed 0.8 percent.

Australia’s S&P/ASX 200 Index added 0.5 percent, while New Zealand’s NZX 50 Index rose 0.4 percent. Singapore’s Straits Times Index added 3.2 percent.

The MSCI Asia Pacific Index fell 4.2 percent this month through March 20 before rebounding.

Shares were weighed down by concern about tension in Ukraine as Russian President Vladimir Putin annexed Crimea.

The Asia stocks gauge ended the week trading at 12.64 times estimated earnings, compared with multiples of 15.85 for the Standard & Poor’s 500 Index and 14.45 for the STOXX Europe 600 Index, according to data compiled by Bloomberg.

Asian markets edged higher in quiet trade on Friday, with Wall Street providing a tepid lead following a mixed batch of economic

In other markets on Friday:

Jakarta ended up 0.96 percent from Thursday, or 46.22 points, at 4,768.28.

Kuala Lumpur’s main stock index gained 0.21 percent from Thursday, or 3.86 points, to 1,846.87.

Mumbai’s benchmark index gained 0.57 percent, or 125.60 points, from Thursday to end at 22,339.67 points.

Wellington rose 0.32 percent from Thursday, or 16.36 points, to 5,142.89.

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