2 Jun 2009

Asia-Pacific markets higher

10:52 pm on 2 June 2009

Markets in the Asia-Pacific region gained on Tuesday.

The New Zealand benchmark index was up 43 points, or 1.5%, to 2807 on turnover of $116 million.

Top stocks gained, with Telecom up 11 cents to $2.62, Fletcher Building up 28c to $6.78 and Contact Energy jup 6c to $5.78

Tower gained 16c to $1.84 following last week's half-year profit which rose 33% to $26.6 million on the same period a year ago.

However, Air New Zealand was down 1c at $1.05 after announcing it will cut flights and jobs in response to the economic downturn.

The market was closed for a public holiday on Monday.

The Australian share market closed at its highest level in nearly seven months as better than expected local and overseas economic data heartened investors and boosted resources stocks.

The benchmark S&P/ASX200 index lifted 60.9 points, or 1.56% to 3955.3 points, while the broader All Ordinaries index advanced 60.2 points, or 1.55%, to 3948.1 points.

Japanese share prices rose 0.27% to an eight-month high on Tuesday, gaining for a fifth straight trading day amid relief at General Motors' filing for bankruptcy protection, dealers said.

The benchmark Nikkei-225 index rose 26.56 points to close at 9,704.31, the highest since October 7, when it ended at 10,155.90.

The broader Topix index of all first section shares increased 1.04 points, or 0.11%, to 913.56.