8 May 2009

Asia-Pacific markets higher

10:00 pm on 8 May 2009

Markets in the Asia-Pacific were higher at the close on Friday.

Japanese share prices were up 0.50% amid hopes that the worst of the financial crisis may be over, brokers said.

The Nikkei-225 index, which soared on Thursday to a six-month high, gained 47.13 points to 9,432.83. The broader Topix index of all first section shares rose 9.42 points, or 1.06%, to 895.35.

Hong Kong share prices closed 1% higher, as bullish investor confidence helped the market rise for its seventh straight session, dealers said. The benchmark Hang Seng Index closed up 171.98 points at 17,389.87.

The Australian share market closed marginally higher after receiving some support from banking stocks and some miners.

At 1615 AEST, the benchmark S&P/ASX200 index was up three points, or 0.08%, at 3,941.7, while the broader All Ordinaries index had gained 7.5 points, or 0.19%, to 3,919.6.

In New Zealand, the benchmark index was up 18 points, or 0.64%, to 2873 on turnover of $90 million.

Telecom was down 10 cents to $2.72 after announcing its profit fell 40% in the nine months to March.

Contact Energy rose 13c to $6.23, while Fletcher Building was up 18c to $7.02.

The Warehouse rose 10c to $3.85 after announcing its third-quarter sales are down 2.8% compared with a year ago.