Asian stocks on the rise

Asian markets rose for a fourth day Friday, boosted by dealers'
confidence in the upcoming earnings season and an upbeat outlook on
the global economy. Tokyo rose 1.87 percent and Seoul almost two
percent while Taipei added 0.91 percent. Hong Kong also edged up.
Shanghai stormed 4.76 percent higher as it caught up on gains in
regional and other overseas markets following China's week-long
National Day holiday. Investors were cheered by data showing initial
claims for US jobless benefits in the week ended October 3 fell to a
nine-month low of 521 ,000. Korea's central bank also gave support as
it froze its key interest rate at a record low 2.0 percent for the
eighth straight month, saying the economy was showing strength. Hopes
for the third quarter earnings season came after US aluminium giant
Alcoa announced a surprise profit this week. TOKYO: Up 1.87 percent.
The Nikkei-225 gained 183.92 points to 10 , 016.39. The index ended
above the key 10 ,000- points level for the first time in more than a
week as hopes mounted for a recovery in corporate earnings. HONG
KONG: Flat. The Hang Seng Index edged 6. 54 points higher at 21 ,
499.44. The market rose slightly, giving it a fifth day of
consecutive gains. SHANGHAI: Up 4.76 percent. The Shanghai Composite
Index, which covers both A and B shares, was up 132.29 points to 2
, 911.72. But market watchers warned that liquidity concerns may
weigh on the market as 18 companies seeking to list on China's new
Growth Enterprise Market will open subscriptions for their initial
public offerings next week, traders said. SEOUL: Up 1.94 percent.
The KOSPI gained 31.33 points at 1 , 646.79. TAIPEI: Up 0.91
percent. The weighted index rose 68.65 points to 7 , 571.96.
SINGAPORE: Flat. The Straits Times Index gained 1.56 points, or 0.06
percent, to 2 , 652.51. BANGKOK: Up 0.38 percent. The Stock Exchange
of Thailand gained 2.84 points to close at 746.87. KUALA LUMPUR: Up
0.30 percent. The Kuala Lumpur Composite Index gained 3.73 points
to 1 , 233.82. JAKARTA: Down 0.41 percent. The Jakarta Composite
Index lost 10.11 points to 2 , 474.40. MANILA: Down 0.85 percent.
The composite index shed 25.24 points to 2 , 942.78. MUMBAI: Down
1.19 percent. The 30- share Sensex fell 200.88 points to 16 ,
642.66.