HONG KONG, Nov 06, 2009 (AFP) - A rally on Wall Street helped Asian markets rebound at the end of a volatile week on Friday but many dealers remained cautious ahead of key jobs figures in the world's biggest economy.

Hong Kong added 1.63 percent, Tokyo 0.74 percent and Sydney 1.91 percent as dealers looked at upbeat data from the US to pick up bargains following a hectic week.

Shanghai rose for the sixth day in a row.

The Dow Jones index added more than two percent on Thursday after figures showed US productivity surged in the third quarter to its highest in six years, while filings for jobless benefits fell to their lowest in 10 months last week.

US October retail sales increased 1.8 percent.

However, eyes were also on US non-farm payroll numbers to be released later Friday, which will give an indication of the state and strength of recovery in the world's biggest economy. Many analysts expect the data to show almost 10 percent unemployment.

TOKYO: Up 0.74 percent. The Nikkei-225 climbed 71.91 points to 9,789.35.

Toyota shares lost 1.7 percent to 3,520 yen, after reporting better-than-expected earnings for the three months to September and lifting its outlook for the full fiscal year.

"Toyota's earnings are improving but it's only in line with the industry-wide trend, and it's hard to find a particular reason to buy its stock," said an analyst at a Japanese research institute.

NEC rose 10 percent to 273 yen as investors took in their stride an announcement it will raise up to 134 billion yen via a new share issue that will dilute the value of existing stock.

Bank shares ended mostly lower, with Mizuho Financial down 1.1 percent to 179 yen and Sumitomo Mitsui Financial 0.3 percent lower at 3,160 yen.

HONG KONG: Up 1.63 percent. The Hang Seng Index added 350.64 points to 21,829.72.

"Strong liquidity flows suggest a positive outlook for the Hong Kong stock market," Linus Yip, a strategist at First Shanghai Securities, told Dow Jones Newswires.

HSBC advanced 1.9 percent to 86.85 Hong Kong dollars and Bank of China Hong Kong was up 3.2 percent at 18.46.

Local developers rose after a sell-off in recent sessions on concerns the government may increase land supply. The property sub-index rose 2.0 percent after a 1.3 percent decline Thursday.

Sun Hung Kai Properties gained 2.5 percent to 116.30 and Cheung Kong jumped 1.7 percent to 97.35.

SYDNEY: Up 1.91 percent. The S&P/ASX200 gained 86.0 points to 4,594.0.

Dealers said the market opened higher on Wall Street's lead and continued to gain after the Reserve Bank of Australia revised economic growth and inflation forecasts.

Heavyweight miners rose after the bank said Asian demand for resources was supporting economic growth.

BHP Billiton rose 2.63 percent to 37.40 dollars and Rio Tinto added 3.85 percent to end at 65.00 dollars.

Westpac gained 2.55 percent to close at 26.55 dollars, while National Australia Bank added 2.06 percent to 28.75. Commonwealth Bank was up 1.66 percent at 52.71.

SHANGHAI: Up 0.28 percent. The Shanghai Composite Index, which covers both A and B shares, was up 8.98 points to 3,164.04.

The key index ended at its highest since August 11 and the index has risen 5.6 percent for the week.

Property companies led the gains after China Vanke, the country's largest developer by market value, said sales surged 95 percent.

The firm rose 2.8 percent at 12.10 yuan and Tianjin Realty Development added 6.0 percent to 7.02.

Cement firms were also strong, partly on increased construction by property developers. Hebei Taihang Cement surged by the daily trading limit of 10 percent to 11.19 yuan.

On the ChiNext, 25 of the 28 stocks slumped after rebounding in the two previous sessions.

Beijing Ultrapower Software Co LTD tumbled 5.4 percent to 97.71 yuan. Anhui Anke Biotechnology (Group) Ltd shed 3.9 percent to 44.80.

SEOUL: Up 1.30 percent. The KOSPI ended up 20.22 points at 1,572.46.

"A sharp rebound of the US market certainly helped lift the KOSPI today," Kim Joong-hyun, an analyst at Shinhan Investment Corporation, said.

But he noted trading volume increased only slightly after it plunged to the year's lowest level Thursday. No one was in a hurry to sell or buy before the release of the payrolls data later Friday and before the weekend, Kim said.

POSCO added 4.2 percent to 523,000 won and Hyundai Steel gained 3.0 percent to 78,300.

Daewoo Securities advanced 4.6 percent to 19,250 won and Woori Investment and Securities climbed 4.7 percent to 15,700.

Ssangyong Motors rose by the daily limit of 15 percent to 3,205 won on hopes a local court will approve its restructuring plan later Friday.

TAIPEI: Up 0.61 percent. The index rose 45.59 points to 7,463.05.

The market opened higher as investors were encouraged by a breach of the 10,000 point mark on Wall Street.

However, citing the day's "thin turnover", Concord Securities analyst Allen Lin said that "Wall Street's strong showing failed to call too many investors back to the trading floor".

China chips with close business ties with the mainland got boosted by optimism they would benefit from strong demand there.

Food maker Uni-President rose 1.96 percent to 38.95 dollars.

Microchip designer MediaTek closed down 0.52 percent at 477.50 and Taiwan Semiconductor Manufacturing Co closed up 0.50 percent at 60.00.

SINGAPORE: Up 1.10 percent. The Straits Times Index rose 28.86 points to 2,658.21.

DBS rose 40 cents to 13.38 and United Overseas Bank up 34 cents to 17.76.

Capitaland edged up five cents to 4.09 and City Developments rose 17 cents to 10.02.

Singapore Airlines was up 18 cents to 13.98 and Singapore Telecommunications gained five cents to 2.94.

BANGKOK: Up 2.45 percent. The Stock Exchange of Thailand rose 16.72 points to 698.63.

KUALA LUMPUR: Up 0.54 percent. The Kuala Lumpur Composite Index gained 6.80 points to 1,260.76.

JAKARTA: Up 1.18 percent. The Jakarta Composite Index gained 27.89 points to 2,395.10.

The index has gained 77 percent since the start of 2009.

Cigarette maker Gudang Garam jumped 7.1 percent to 17,250 rupiah, while Bank Rakyat Indonesia climbed 3.5 percent to 7,450.

Car distributor Astra International gained 1.9 percent to 30,350 rupiah.

MANILA: Down 0.44 percent. The index fell 13.04 points to 2,931.47.

First Holdings dropped 3.45 percent to 56 pesos while Metro Pacific slipped 4.76 percent to three pesos. Meralco fell 12.22 percent to 194 pesos.

Philex Mining Corp. rose 1.89 percent to 13.50 pesos.

WELLINGTON: Up 0.50 percent. The NZX-50 closed up 15.66 points at 3,160.16.

Telecom rose four cents to 2.52 dollars after reporting first quarter net profit rose 9.4 percent to 163 million dollars.

Fletcher Building rose nine cents to 7.95 dollars and Contact Energy gained three cents to 6.02.

Pay television firm Sky TV gained eight cents to 4.88 dollars.

MUMBAI: Up 0.59 percent. The 30-share Sensex rose 94.38 points to 16,158.28.

dan/jah

© Copyright AFP 2009.

 

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