Wednesday, December 5, 2007

Asian markets close positive

Asian stocks closed positive on Dec. 5, 2007 on speculation the U.S. and U.K. will step up measures to contain subprime loan losses and support economic growth.

Mitsubishi UFJ Financial Group Inc.advanced after reports emerged that the U.K. may nationalize Northern Rock Plc, which the Bank of England bailed out in September.

The Japanese benchmark index Nikkei gained 128.69 points, or 0.83%, to trade at 15,608.88.

Hong Kong`s index Hang Seng gained 465.86 points, or 1.61%, to trade at 29,345.45.

China`s Shanghai Composite advanced 126.76 points, or 2.58%, to trade at 5,042.65.

Taiwan`s index Taiex gained 25.67 points, or 0.30%, to trade at 8,676.95.

South Korea`s KOSPI advanced 20.37 points, or 1.06%, to trade at 1,938.20.

Singapore`s Straits Times gained 32.18 points, or 0.91%, to trade at 3,560.05.

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