HONG KONG: Asian shares were mostly higher yesterday, with most markets reversing morning losses while the more positive mood in equities supported the dollar and euro against the yen.
The gains came despite a tepid lead from Wall Street, where healthy housing figures were offset by disappointing eurozone economic data.
Tokyo rebounded from early profit-taking to end a touch higher, adding 6.96 points to 15,376.24 — a five-month high — while Seoul jumped 0.98 percent, or 19.43 points, to 1,994.35.
Hong Kong rebounded slightly after Monday’s heavy selling, rising by 0.33 percent or 75.83 points to 22,880.64, while Shanghai advanced 0.47 percent, or 9.56 points, to 2,033.93, However, Sydney fell 0.38 percent, or 20.5 points, to close at 5,432.8.
Trade remained uninspired despite a survey on Monday indicating Chinese manufacturing in June growing for the first time this year, raising hopes for the economy. China’s impressive figures were not repeated in the eurozone, where Markit Economics’ composite purchasing managers index slipped to its weakest level since December, suggesting a recovery in the bloc could be stalling.
In other markets, Taipei rose 0.19 percent, or 17.85 points, to 9,246.20. PC maker Acer added 1.89 percent to Tw$21.6 while smartphone maker HTC was 1.5 percent higher at Tw$135.0. Wellington fell 0.10 percent or 4.96 points to 5,122.21.
Manila closed 0.46 percent higher, adding 31.08 points to 6,793.07. SM Investments gained 2.38 percent to 818 pesos while Metropolitan Bank and Trust rose 0.29 percent to 86.95 pesos.
Singapore rose 0.14 percent, or 4.63 points, to 3,262.03. Jakarta ended up 0.42 percent, or 20.11 points, at 4,862.24. Kuala Lumpur gained 0.44 percent, or 8.37 points, to 1,892.33. Telekom Malaysia added 0.5 percent to 6.32 ringgit, while Budget carrier AirAsia fell 0.5 percent to 2.23 ringgit. Bangkok lost 0.53 percent, or 7.78 points, to 1,760.92. AFP
