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Asian markets end higher ahead of ECB bank lending move

29 Feb 2012 Evaluate

Sentiments remained bullish across the Asian region and most of the Asian counterparts ended the session in the positive terrain on Wednesday on optimism ahead of another ECB refinancing operation while US stocks provided a strong cue after closing at a near four-year high. Meanwhile, Seoul Composite posted their highest close in seven months, up by over a percentage point on Wednesday, tracking overnight gains in Wall Street as large caps rallied across the board. In addition, Taiwan stocks closed up 2.04 percent at an almost seven-month closing high, with HTC Corp jumping after it announced a new line up of phones. While, Nikkei share average failed to hold above 9,800, paring gains to end flat as investors took profits ahead of an ECB liquidity operation. However, Chinese Shanghai Composite ended with a cut of about a percent, weighed down by a slump in property shares after Shanghai reaffirmed its commitment to real estate curbs.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,428.49

-23.37

-0.95

Hang Seng

21,680.08

111.35

0.52

Jakarta Composite

3,985.21

81.65

2.09

KLSE Composite

1,569.65

12.92

0.83

Nikkei 225

9,723.24

0.72

0.01

Straits Times

2,994.06

24.33

0.82

Seoul Composite

2,030.25

26.56

1.33

Taiwan Weighted

8,121.44

162.10

2.04

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