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Asian Stock Markets Close Higher

12/08/2003 15:24
Asian stocks markets closed generally higher Tuesday, with prices rising in Tokyo for the third straight session.

Tokyo's Nikkei Stock Average of 225 selected issues rose 77.01 points, or 0.81 percent, to 9,564.81. On Monday, the index gained 160.27 points, or 1.72 percent.

Stocks were boosted by Japanese gross domestic product data for the April-June quarter, which was released just before trading kicked off, traders said.

Japan's gross domestic product - the value of a nation's goods and services - grew by a better-than-expected 0.6 percent during the quarter ended June 30, marking six straight quarters of growth. The numbers show the world's second-largest economy grew during the three months at an annualized rate of 2.3 percent.

Technology stalwarts Fujitsu, Hitachi, Sony, NEC and banks UFJ, Mizuho Financial and Sumitomo Mitsui Financial ended the day higher. However, automakers Nissan and Toyota finished with losses.

In currency trading, the U.S. dollar was quoted at 118.64 yen, up 0.02 yen from late Monday and also above the 118.60 yen it bought later in New York that day.

In Hong Kong, the key Hang Seng Index rose 90.63 points, or 0.90 percent, to 10,184.17. On Monday, the index had gained 148.32 points, or 1.49 percent.

There was continued buying of blue chips following Monday's gains on Wall Street, where the Dow Jones industrial average closed up 26.26, or 0.3 percent, to 9,217.35. The tech-laden Nasdaq composite index rose 17.48, or 1.1 percent, to 1,661.51.

Singapore's shares ended higher for the fifth straight session on the back of Wall Street's gains.

The Straits Times Index rose 10.04 points, or 0.7 percent, to 1,563.63.

The market was closed in Thailand for a holiday.

Elsewhere:

MANILA: Philippine shares closed higher as security concerns eased after President Gloria Macapagal Arroyo lifted a state of rebellion. The 30-company Philippine Stock Exchange Index rose 9.93 points, or 0.8 percent, to 1,247.93.

WELLINGTON: New Zealand shares closed lower. The benchmark NZSX-50 Gross Index fell 3.63 points, or 0.16 percent, to 2,203.40.

SYDNEY: Australian shares closed marginally lower. The All Ordinaries Index fell 1.80 points, or 0.06 percent, to 3,134.70.

SEOUL: South Korean shares closed slightly lower. The Korea Composite Stock Price Index, or Kospi, fell 3.28 points, or 0.5 percent, to 701.30.

KUALA LUMPUR: Malaysian shares closed lower on profit-taking. The Composite Index of 100 blue-chip stocks fell 2.62 points, or 0.4 percent, to 724.21.

TAIPEI: Taiwan shares closed higher, boosted by advances on Wall Street. The Weighted Price Index rose 40.64 points, or 0.8 percent, to 5,255.24.

JAKARTA: Indonesian shares closed mixed, with the key index rising slightly. The Composite Index rose 1.57 points, or 0.3 percent, to 506.41.