Asian shares driven higher by corporate prospects

       BANGKOK 725.60-6.01
       Asian markets pushed to new highs yesterday, lifted by confidence in upcoming corporate results as well as surging oil prices.
       Better than expected data from US computer giant Apple as well as an upbeat outlook from machinery maker Caterpillar lifted sentiment.
       The Thai stock market lost 0.82% yesterday on profit-taking in energy shares.
       The Stock Exchange of Thailand (SET) composite index fell 6.01 points to close at 725.60 and the blue-chip SET-50 index dropped 5.31 points to 517.13.
       Losers overwhelmed gainers 231 to 140 and 85 stocks were unchanged with turnover of 6.1 billion shares worth 29.2 billion baht (US$874.2 million).
       The Thai baht was hardly changed,closing at 33.40-42 to one dollar compared with Monday's close of 33.39-41.
       The unit fell against the euro to close at 50.00-07 from the previous day's close of 49.85-92 baht.
       TOKYO 10,336.84+100.33
       Stocks rose yesterday to the highest level in almost one month after US shares scaled a new peak for the year on renewed optimism about the outlook for corporate earnings.
       The Tokyo Stock Exchange's benchmark Nikkei-225 index gained 100.33 points, or 0.98%, to 10,336.84, the highest closing level since September 24.
       The broader Topix index of all first section shares advanced 7.65 points, or 0.84%, to 913.45.
       Technology shares were among the rising stocks following encouraging corporate results from US computer maker Apple and a brighter than expected outlook from Texas Instruments.
       "Tokyo market gains will likely be sustained through the week on bullish signs from US corporate earnings,'Shinichiro Matsushita, market analyst at Daiwa Securities, told Dow Jones Newswires.
       Kyocera added 2.1% to 8,160 yen and Tokyo Electron climbed 1.4% to 5,770 yen after Apple announced a 47% jump in quarterly profit on brisk sales of its iPhones and computers.
       Construction machiner y maker Komatsu firmed 1.4% to 1,822 yen, hitching a lift with its US counterpart Caterpillar, which was expected to post strong earnings later in the day, dealers said.
       HONG KONG 22,384.96+184.50
       Shares rose 0.83% yesterday, in line with regional markets and following a surge on Wall Street, to hit a 14-month high.
       The benchmark Hang Seng Index finished up 184.50 points at 22,384.96.Turnover was HK$74.18 billion (US$9.57 billion).
       Dealers sent the market to its best finish since August 4 last year on confidence over upcoming third-quarter corporate data.
       Analysts expect the market to test 22,500 points this week.
       "Buying interest continues, supported by ample liquidity in the market," Ben Kwong, chief operating officer at KGI Asia Ltd, told Dow Jones Newswires.
       Regional markets rose yesterday after the Dow Jones index put on 0.96%, a more than 12-month high.
       The Hang Seng's property subindex rose 5.8%, with Sun Hung Kai Properties up 7.7% to HK$129.40 and Cheung Kong 7.1% higher at HK$107.30.
       China Merchants Bank was 3.5% up at HK$19.46 after shareholders approved its plan for a capital raising.
       SYDNEY 4,852.80+51.00
       Share prices gained 1.11% yesterday,with positive offshore leads boosting finance and resources stocks.
       The benchmark S&P/ASX 200 added 53.4 points to 4,846.2, while the broader All Ordinaries rose 51.0 points to 4,852.8.
       Turnover was 3.22 billion shares worth A$5.76 billion (US$5.35 billion),with 731 stocks rising, 455 falling and 335 flat.
       "When there is a rally, we've seen the money flow into resources, which is typical of a market that is looking to move higher," said CMC Markets analyst David Taylor.
       Rio Tinto grew 3.33% to 66.80 and BHP Billiton was up 2.12% at 39.91 as the weaker US dollar buoyed commodity prices.
       Woodside Petroleum put on 0.13% to 52.69, while Santos grew 2.56% to 15.64.
       SINGAPORE 2,711.09-0.61
       Shares closed flat yesterday, with investors in the mood for profit-taking following recent gains.
       The blue-chip Straits Times Index (STI) eased 0.61 points to 2,711.09 on volume of 1.98 billion shares worth S$1.29 billion (US$928 million). Decliners outnumbered risers 305 to 194, with 771 issues unchanged.
       Dealers moved in to sell after the index picked up big gains last week.
       It is "tough to sustain STI gains amid low and dwindling index volumes," said AmFraser Securities head of retail research Najeeb Jarhom.
       "Pr ofit-taking may become more prevalent (approaching) the critical 2,740-2,760 area during the current earnings season.'
       Analysts said despite data showing an economic recovery for Singapore was underway, investors remained cautious ahead of the release of third quarter earnings reports by listed companies.
       KUALA LUMPUR 1,265.74+4.25 Shares closed up 0.34% yesterday helped by gains in finance and plantation stocks.
       The Kuala Lumpur Composite Index gained 4.25 points to a new 2009 closing high at 1,265.74.
       Dealers said trading was robust with volume of 1.24 billion shares while decliners outpaced gainers 419 to 329.
       "Profit-taking accelerated in afternoon trade, especially among small-cap and penny-stocks. This is largely due to day traders and retail investors locking in profits," a dealer told Dow Jones Newswires.
       The dealer said institutional funds remained active, accumulating finance,plantation, glovemakers and select industrials to keep the benchmar k in positive territory.
       "The market is likely to sustain its winning streak for the rest of this week in the run up to Budget 2010 (Friday),"he said.
       SEOUL 1,659.15+10.08
       Shares closed 0.61% higher yesterday on gains in shipbuilders and some technology stocks.
       The benchmark KOSPI ended up 10.08 points at 1,659.15. Volume was 397.6 million shares worth 4.75 trillion won (US$4.07 billion).
       "It's positive to see that the index topped the 20-day moving average (around 1,655) and foreigners resumed strong stock buying. But sentiment was not that good," Jung Seung-Jae, an analyst at Mirae Asset Securities, told Dow Jones Newswires.
       Foreigners bought a net 224.6 billion won worth of shares, but local retail investors and domestic institutions were net sellers of shares worth 197.8 billion and 52.3 billion respectively.
       LG Display advanced 3.3% to 32,900 won following news that a power outage hit Corning's liquid crystal display glass manufacturing plant in Taiwan over the weekend.
       LG Electronics added 2.2% to 118,500 won and Samsung Electronics ended up 0.1% at 752,000.
       TAIPEI 7,753.52+2.20
       Share prices closed flat yesterday after profit-taking eroded early gains.
       The weighted index edged up 2.20 points, or 0.03%, to 7,753.52 on turnover worth TA$125.12 billion (US$3.88 billion).
       Losers outnumbered gainers 1,401 to 1,120, while 248 stocks were unchanged.
       But a total of 52 shares surged to their daily 7.0% limit against nine limit-down.
       "After all, the market has risen to the high levels of the year, and a number of investors chose to stay on the sideline," said Steven Huang of President Securities.
       However, while big caps lost momentum dozens of small caps were active ahead of the release of Microsoft's Windows 7 operating system.
       Young Fast Optoelectronics, a local leading touch-screen manufacturer,gained 1.47% to 413.5.
       Apple's release of stellar quarterly profit also helped lift the prices of local electronic makers which have business links with the US computer giant.
       WELLINGTON 3,252.56+31.64
       Share prices rose 0.98% yesterday, following gains in US markets and a strong performance by leading stocks.
       The benchmark NZX-50 index closed 31.64 points higher at 3,252.56 on turnover worth NZ$82 million (US$61.8 million). There were 54 rises and 20 falls among the 112 stocks traded.
       Stephen Wright at ASB Securities said the market was sluggish at the start of the day and turnover was light.
       The broader market was given a boost by gains in Fletcher Building and other leaders including Telecom,casino operator Sky City and Contact Energy.
       "It looks like institutions, possibly from offshore are buying our leaders,'Wright said.
       JAKARTA 2,502.22-18.70
       Shares ended 0.74% lower yesterday due to selling by banks on expectations that higher oil prices will stoke inflation.
       The Jakar ta Composite Index lost 18.70 points to 2,502.22 in light trade.
       "Foreign funds dominated selling on risk aversion due to higher oil prices," a trader told Dow Jones Newswires.
       Many investors are also awaiting President Susilo Bambang Yudhoyono's announcement today of his new cabinet.
       Liberal ex-general Yudhoyono was sworn in as Indonesia's president yesterday after winning a second five-year term in July with promises of economic growth and political reform.
       Coal miner Bumi Resources lost 1.70%to 2,850 rupiah, Bank Negara Indonesia decreased 2.44% to 2,000 and state-owned miner Aneka Tambang fell 2.83% to 2,575.
       SHANGHAI 3,084.45+46.18
       Shares closed up 1.52% yesterday led by financial and shipping companies amid hopes for improving economic fundamentals.
       The Shanghai Composite Index,which covers both A and B shares, was up 46.18 points to 3,084.45 on turnover of 167.2 billion yuan (US$24.5 billion).
       Wall St reet's performance Monday also boosted domestic investors' confidence in a global economic recovery, traders said.
       The Dow Jones Industrial Average closed up 96.28 points, or 0.96%, at 10,092.19 Monday, its highest close in a year.
       "Though further gains in stocks are supported by improving economic fundamentals, investors need to remain cautious as economic data due Thursday won't beat expectations,' Central China Securities analyst Zhang Gang told Dow Jones Newswires.
       China is due to release third-quarter economic data Thursday including gross domestic product.
       A senior official with China's top economic planning agency said on Monday that the economy grew between seven and eight percent year-on-year in the first nine months of 2009.