Asian stocks bounce back
Asian markets staged a massive rebound on Tuesday following weeks of losses, boosted by a rally on Wall Street that was led by confidence in the key financial sector.
TOKYO: Up 2.34 percent. The Nikkei-225 rose 211.48 points to close at 9,261.81.
HONG KONG: Up 3.66 percent. The Hang Seng Index ended up 631.10 points at 17,885.73.
But analysts said they do not expect the index's rebound to last given caution over the second-quarter earnings reports of non-financial companies.
SYDNEY: Up 3.47 percent. The S&P/ASX 200 gained 129.6 points to 3,867.1.
Strong offshore leads and bullish commodities prices boosted the resources-heavy bourse, dealers said.
SHANGHAI: Up 2.10 percent. The Shanghai Composite Index, which covers A and B shares, was up 64.60 points to 3,145.16.
TAIPEI: Up 1.66 percent. The weighted index rose 108.59 points to 6,639.41.
SEOUL: Up 0.54 percent. The KOSPI ended up 7.44 points at 1,385.56.
Many investors remained cautious amid a lack of fresh upward momentum other than second-quarter earnings hopes, "which are thought to be largely priced in by the recent gains," added an analyst.
SINGAPORE: Up 1.94 percent. The Straits Times Index advanced 43.91 points to 2,310.55.
Oversea-Chinese Banking Corp put on 14 cents to 6.80.
KUALA LUMPUR: Up 1.5 percent. The Kuala Lumpur Composite Index gained 15.97 points to 1,079.63.
Among gainers, Bumiputra-Commerce climbed 3.3 percent to 9.50 ringgit as KL Kepong rose 2.6 percent to 12.0 ringgit.
On the downside, Malaysia Airports slid 1.1 percent to 3.52 ringgit while Hap Seng eased 2.0 percent to 2.44 ringgit.
BANGKOK: Up 2.70 percent. The Stock Exchange of Thailand gained 15.20 points to close at 577.75.
JAKARTA: Up 1.80 percent. The Jakarta Composite Index added 36.44 points to 2,056.57.
Bank Rakyat rose 3.9 percent to 6,750 rupiah, Bank Danamon added 3.4 percent to 4,527 and coal miner Bumi gained 4.5 percent to 1,850.
MANILA: Up 0.36 percent. The composite index added 8.91 points to close at 2,492.30.
WELLINGTON: Up 0.42 percent. The NZX-50 rose 11.61 points to 2,748.50.
MUMBAI: Up 3.38 percent. The 30-share Sensex rose 453.38 points to 13,853.70.
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