15 May 2009

Asia Pacific markets end week higher

10:06 pm on 15 May 2009

Markets in Asia and the Pacific ended the trading week higher on Friday.

The New Zealand benchmark index was up 14 points, or 0.53%, to 2790.

Telecom was up 1 cent to $2.60, Fletcher Building rose 7c to $6.63, while Contact Energy was unchanged at $5.99.

Goodman Property Trust was up 1c to 83c after posting a $74 million loss on Thursday due to a 10% drop in the value of its properties.

Kiwi Income Property Trust was up 1c to 94c after posting a loss of $169 million in the year to March.

TrustPower rose 4c to $7.60 after posting a 7% increase in annual profit to $105 million in the year to March.

The Australian share market finished firmer led by the major miners and rebound in cyclical stocks.

At 1615 AEST, the S&P/ASX200 index was up 49.8 points, or by 1.34%, at 3773.2, while the broader All Ordinaries index was up 48.1 points, or 1.3%, at 3758.9.

Japanese stocks advanced, buoyed by better-than-expected economic data and a stable dollar, sending investors to buy exporter issues.

The benchmark Nikkei 225 stock average gained 171.29 points, or 1.88%, to end the week at 9,265.02. The broader Topix index rose 2.2% to 881.65.