HONG KONG -- Asian stocks rose modestly in most of the region's markets that were open Friday, following the mixed signals overnight in U.S. markets.
In Hong Kong, the benchmark
index fell 45.43 points, or 0.52%, to 15,268.64. Property developer
fell HK$2.00, or 2.3%, to 85.25, after
Standard & Poor's
put the company's credit rating under review. Cheung Kong's subsidiary,
has already been put on CreditWatch by S&P. Hutchison fell 0.50 to 106.50, having been well-hammered earlier in the week. Both companies are on review because of the money Hutchison will have to spend in developing a third-generation mobile phone business in the U.K.
fell 0.25 to 85.75, and mainland mobile phone network operator
was unchanged at 58.25.
Markets in Japan, South Korea, mainland China and Thailand were closed for
. Japanese stocks have not traded since Tuesday after the start of the "Golden Week" series of holidays. Business in Tokyo gets back to normal on Monday.
index rose 273.15 points, or 3.2%, to 8698.53 after the government ordered that more public funds be injected into the market to support stock prices. Taiwan is a technology-heavy market and has suffered in the past month as tech stocks worldwide have been subjected to re-evaluation by investors. Foundry chipmaker
Taiwan Semiconductor Manufacturing Co.
gained NT$5.00, or 2.7%, to 192.00, while its rival
rose 6.00 to 106.00, a gain of 6%.
index rose 49.70 points, or 1.6%, to 3075.60.
surged by 5%, up A$0.52 to 10.95, after reporting first-half earnings rose 17% year-on-year to 41.5 Australian cents a share. An increase in Australian interest rates this week had contributed to lower stock prices earlier.
Broken Hill Proprietary
fell 0.11, or 0.6%, to 17.52, after reporting today that it lost A$46 million in the third quarter, which ended March 31.
fell 0.30 to 6.95. After some hefty falls this week,
rallied by 0.50, or 2.4%, to 21.20.