Asian markets soar
Asian markets soared on Monday as investors ignored the global swine flu epidemic and instead focused on signs that the US and Chinese economies may be heading toward recovery.
HONG KONG: Up 5.54 percent. The Hang Seng Index closed up 860.06 points at 16,381.05.
SYDNEY: Up 3.0 percent. The S&P/ASX 200 gained 113.4 points to close at 3,883.0.
SHANGHAI: Up 3.32 percent. The Shanghai Composite Index, which covers A and B shares, was up 82.34 points to 2,559.91.
Steelmakers led gainers following news that China will step up consolidation in the industrial sector.
Baoshan Iron and Steel, the country's largest steelmaker by assets, rose 4.5 percent to 6.04. Handan Iron and Steel gained 5.3 percent to 4.40 yuan.
Chalco was up 4.1 percent at 10.77 yuan. PetroChina gained 3.2 percent to 11.94 yuan.
TAIPEI: Up 5.64 percent. The weighted index climbed 337.83 points to close at 6,330.4.
SEOUL: Up 2.1 percent. The KOSPI gained 28.56 points to close at 1,397.92, the highest close since October 2.
Uncertainty over the delayed announcement of results of US "stress tests" for major banks was offset by positive US economic data, said Kim Seung-Han, an analyst at HI Investment and Securities.
SINGAPORE: Up 5.65 percent. The blue-chip Straits Times Index gained 108.43 points to close at 2,028.71, reaching its highest level since October 15.
KUALA LUMPUR: Up 1.88 percent. The Kuala Lumpur Composite Index gained 18.62 points to 1,009.36, a high for 2009.
JAKARTA: Up 3.39 percent. The Jakarta Composite Index gained 58.57 points to 1788.15.
BANGKOK: Up 2.96 percent. The Stock Exchange of Thailand composite index gained 14.57 points to close at 506.26.
MANILA: Up 1.6 percent. The composite index gained 34.12 points to close at 2,137.62.
Stocks gained on investor interest in blue-chips, dealers said.
Ayala Corp. added 5.4 percent to 233 pesos and geothermal producer Energy Development Corp. rose 4.2 percent to 3.75.
MUMBAI: Up 6.41 percent. The 30-share Sensex rose 731.5 points to 12,134.75, a near seven-month peak.
Comments