Wednesday, September 12, 2007

Asian equities up on US cues

MUMBAI: Tracking the US markets, Asian stock markets climbed up on Wednesday led by exporters and miners.

Japan's Nikkei average was up 0.4 per cent at 15,934.36, led by real estate companies Sumitomo Realty and Fanuc. The yen’s fall helped exporters to gain. Toyota Motor, Komatsu and Canon, which export most of their products to US, rose on a strong dollar.

Yen traded at 114.16 against the dollar, compared with 113.84 in Tokyo Tuesday.

Metal companies also were in the limelight as BHP, Rio Tinto group, Aluminium Corporation of China and Sumitomo Metal Mining Co firmed up.

Rise in crude oil prices to record high pushed up oil companies PetroChina, Sinopec, Inpex further. Crude oil for October delivery closed at $78.23 a barrel in New York.

Hong Kong's Hang Seng was up 1.03 per cent at 24,200, South Korea's KOSPI was down 1.16 per cent at 1826, Singapore's Strait Times was 0.50 per cent higher at 3,511 and Taiwan's Taiwan Weighted was up 0.34 per cent at 9033.

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