Thursday, April 17, 2008

Asian markets open higher,Outlook for Indian market remains positive

Asian markets opened higher on Thursday (April 17), led by financial and mining companies, after markets speculated that U.S. banks will post better profits than the estimates, easing concern about the credit- market losses.

Japan`s largest bank by market value, Mitsubishi UFJ Financial Group Inc touched two month high. Woodside Petroleum jumped after crude oil prices rose to a record.

Japanese benchmark index Nikkei rose 306.10 points, or 2.33%, to trade at 13,452.23.

Hong Kong`s index Hang Seng rose 436.87 points, or 1.83%, to trade at 24,315.22.

China`s Shanghai Composite declined marginally 4.05 points, or 0.12%, to trade at 3,287.55.

Taiwan`s Taiex index rose 63.23 points, or 0.70%, to trade at 9,129.27

South Korea`s KOSPI rose 17.48 points, or 0.99%, to trade at 1,776.04.

Singapore`s Straits Times rose 50.43 points, or 1.63%, to trade at 3,137.92. (8.12 a.m., IST)

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