Thursday, March 6, 2008

Asian markets open positive

Asian stocks advanced for the first time in six days today (March 06) after commodity prices rallied and the yen retreated against the dollar. Mitsubishi Corp., Japan`s largest trading house, and BHP Billiton, the world`s biggest mining company, led gains after crude oil rose to a record and prices of copper and gold increased.

Honda Motor Co. rose in Tokyo on speculation a halt in the yen`s advance will boost the value of its overseas sales.

Japanese benchmark index Nikkei gained 186.26 points, or 1.44%, to trade at 13,158.32.

Hong Kong`s index Hang Seng advanced 297.03 points, or 1.29%, to trade at 23,411.37.

China`s Shanghai Composite gained 23.95 points, or 0.56%, to trade at 4,316.61.

Taiwan`s Taiex index advanced 68.24 points, or 0.80%, to trade at 8,552.19.

South Korea`s KOSPI gained 8.59 points, or 0.51%, to trade at 1,685.69.

Singapore`s Straits Times advanced 16.01 points, or 0.55%, to trade at 2,926.78. (8.15 a.m., IST)

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