Monday 9 January, 10:00 AM GMT (Thomson Financial): Asian markets ended
the day mostly higher, as sentiment was supported by last Friday's gains
on Wall Street. Hong Kong's market rose, with the properties sector
outperforming, but on a weaker note, currency movements weighed on the
Korean market. Meanwhile, shares in Taiwan climbed, with construction and
technology firms rising, while the Australian market also ended higher,
driven by resources stocks.
Hong Kong's Hang Seng Stock Index ended higher by 202.99 points or 1.32%
to 15,547.43, while Korea's Kospi Index slipped by 4.45 points or 0.31% to
4108.33. Taiwan's Weighted Index rose by 47.57 points or 0.71% to 6742.39
and Australia's All Ordinaries Index climbed by 39.40 points or 0.83% to
4775.80.
Hong Kong's equity market ended the day higher, boosted by last Friday's
gains on Wall Street. The properties sector performed strongly, with Hang
Lung Properties and Henderson Land among sector players ending higher,
while the financial sector also posted solid gains, with HSBC Holdings and
BOC Hong Kong rising.
On a weaker note, the Korean market slipped, unable to benefit from last
Friday's rally on Wall Street. Although large technology firms such as
Samsung Electronics and Hynix Semiconductor were mostly higher, the won's
rise against the U.S. dollar hit industrial groups such as car
manufacturers and shipbuilders. Hyundai Motor and Kia Motors both
weakened, while Daewoo Shipbuilding and Samsung Heavy also ended lower.
Meanwhile, Taiwan's market climbed, as last Friday's gains on Wall Street
helped sent local blue chips higher. The construction sector rose
strongly, while the key technology sector also gained, with heavyweight
chipmakers TSMC and UMC both tracking gains in their American Depositary
Receipts last Friday. Elsewhere, screen makers such as AU Optronics and
Chi Mei Optoelectronics were also higher.
Finally, the Australian market also drew some inspiration from U.S. gains
last Friday and ended higher, brushing aside data showing that retail
sales in November had fallen by 0.1%, undershooting expectations.
Resources stocks outperformed, supported by rising commodities prices,
with heavyweights BHP Billiton and Rio Tinto both posting sterling gains,
while Newcrest Mining and Lihir Gold both jumped. Elsewhere, banking
stocks also ended higher.
Olivier.Masson@thomson.com; Thomson Financial
This is Thomson Financial Corporate Services Asia Market Commentary. The
information herein is believed to be true and accurate. If you have any
questions please e-mail James Sang at James.Sang@tfn.com. We take no
responsibility for inaccurate information and reserve the right to update
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SOURCE Thomson Financial Corporate Group
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