Upbeat earnings, energy shares boost markets
HONG KONG, Oct 26 (Reuters) Asian stock markets rose on Friday, led by companies with strong profits such as Sony Corp, while record high oil prices fuelled demand for energy names including oil and gas producer Woodside Petroleum.
Oil hit a record high over on tight inventories and fresh signs OPEC will shrug off calls for additional oil. U.S.
crude , touched a peak of .10 a barrel in early electronic trade on Friday.
At 0023 GMT, Tokyo's Nikkei average <.n225> had climbed 0.6 percent, while MSCI's measure of other Asia Pacific stocks <.miapj0000pus> added 0.3 percent.
South Korea's benchmark KOSPI <.ks11> rose 0.5 percent and Australia's S&P/ASX 200 index <.axjo> put on 0.6 percent.
The MSCI index was within easy reach of a record high set on Oct. 11, helped further by hopes of an interest rate cut by the U.S. Federal Reserve, which meets next week to discuss monetary policy.
''The Fed will have to cut rates to tackle a slowing U.S.
economy, but oil prices surged again overnight, making matters complicated,'' said Rho Y.S., a market strategist at Hyundai Securities.
Investors snapped up Sony Corp , sending the stock up 6.5 percent, a day after the firm swung to a quarterly operating profit, while Hyundai Motor extended gains, advancing 3.8 percent after it reported better-than-expected results on Thursday. [ID:nT97685] and [ID:nSEO5841] Macquarie Bank was also in demand, rising 1.3 percent after shareholders approved a plan to restructure the investment bank through the formation of a non-operating holding company.
The move will allow the group's fast expanding non-banking businesses to maintain growth without prohibitive capital constrains they are governed by now. [ID:nSYD252019] Energy stocks gained ground as investors bet that record high oil prices will boost their earnings. Japan's INPEX Holdings put on 2.4 percent and Woodside Petroleum advanced 1.3 percent.
On Wall Street, blue chip stocks <.dji> clawed off the session's trough to end little changed, but disappointing results from cable TV operator Comcast and software maker Symantec helped knock the tech-heavy Nasdaq Composite Index <.ixic> down 0.9 percent.
HEADLINES:
>Earnings,
write-downs
hit
Wall
St;
Microsoft
up
late
[.N]
>Microsoft
lifts
profit
outlook,
shares
rise
11
pct[nN24365747]
>Oil
hits
record
over
,
OPEC
cold
to
new
hike
[nSP247109]
>US
new
home
sales
weak;
durable
goods
orders
sag
[nN25225853]
>Singapore's
DBS
Q3
net
up
11
pct
despite
credit
woe[nSP112799]
>Chartered
quarterly
profit
rises
on
tax
benefit
[nN25209659]
>Nintendo
raises
full-year
forecast,
Wii
boosts
H1
[nT125740]
>Baidu.com
quarterly
profit
more
than
doubles
[nN25238040]
>NZ's
Sky
City
backs
forecast,
halts
casino
sale
[nWEL306952]
>Motorola
profit,
outlook
beat
estimates,
shares
up[nN25446419]
>ICBC
to
buy
20
pct
of
Standard
Bank
for
.6
bln
[nSHA110750]
>Dollar
near
lifetime
low
versus
euro,
rate
cut
eye[nN25337800]
>ADRs
edge
up
as
telecom
results
offset
financials
[ADR/]
--
KEY
INDEXES
pct
change
Bank
of
New
York
Asia
ADR
index
<.bkas>
+0.22
Dow
Jones
Industrial
Average
<.dji>
-0.02
Nasdaq
Composite
Index
<.ixic>
-0.89
MSCI
Asia
Pacific
ex-Japan
<.miapj0000pus>
+1.45
Nikkei
futures
in
Chicago
16,395
Nikkei
futures
in
Osaka
16,280
--
ASIAN
ADR
ACTION:
5
most
actively
traded:
price
change/pct
TSMC
+0.10
Siliconware
+1.05
UMC
+2.70
Infosys
Tech
+0.29
BHP
Billiton
+1.29
--
Top
5
performers:
price
change/pct
Sony
Corp
+5.94
Konami
Corp
+5.53
Rio
Tinto
+3.19
Videsh
Sanchar
+3.14
Lihir
Gold
+2.76
--
Bottom
5
performers:
price
change/pct
APT
Satellite
-5.75
Satyam
-4.15
Santos
-4.13
Orix
-4.00
Chalco
-3.49
--
TOP
ASIA
EVENTS:
For
more
Asian
company
earnings,
see
[ASIA/EQTY]
JAPAN
-
Earnings:
Daiwa
Securities
,
Nissan
Motor
-
Sept
nationwide
CPI;
Oct
Tokyo
area
CPI
-
Industrial
production
for
Sept
S.KOREA
-
Earnings:
Kia
Motors
,
KT
Corp
HONG
KONG
-
Earnings:
Yanzhou
Coal
Mining
,
China
Unicom
,
Anhui
Conch
Cement
TAIWAN
-
Earnings:
Acer
-
Sept
leading
indicators
data
S.E
ASIA
-
Singapore
Q3
property
price/Sept
manufacturing
-
Philippine
Q3
inflation
report
INDIA
-
Earnings:
Tata
Steel
,
Larsen&Toubro
-
State
Bank
of
India
quarterly
results
due
on
Saturday
--
REUTERS
SZ
VP0637