Monday, April 21, 2008

Asian markets open higher, Indian markets to extend gains

Asian markets advanced to seven week high in the early session of trade on Monday (April 21), on speculation that earnings will increase, countering the slower global growth.

The world`s second-biggest maker of construction machinery, Komatsu, advanced after larger rival Caterpillar reports profit better than the analyst estimates.

Japanese benchmark index Nikkei rose 221.24 points, or 1.64%, to trade at 13,697.69.

Hong Kong`s index Hang Seng rose 638.83 points, or 2.64%, to trade at 24,836.61.

China`s Shanghai Composite rose 110.41 points, or 3.57%, to trade at 3,205.07.

Taiwan`s Taiex index rose 20.47 points, or 0.23%, to trade at 9,094.81.

South Korea`s KOSPI rose 28.33 points, or 1.60%, to trade at 1,800.23.

Singapore`s Straits Times rose 66.55 points, or 2.13%, to trade at 3,191.42. (8.04 a.m., IST)

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