Asian markets driven higher by corporate prospects

Better than expected data from U.S. computer giant Apple as well as an upbeat outlook from machinery maker Caterpillar lifted sentiment.

Tokyo surged almost one percent to a one-month high, while Hong Kong put on 0.83 percent, a level last touched 14 months ago.

Wall Street rose 0.96 percent to a fresh high for the year.

Sydney advanced 1.11 percent on prospects for interest rate rises after the central bank warned inflation was a big danger for the economy.

Commodities were lifted again as crude prices edged closer to 80 dollars a barrel, helped by a weaker dollar. And gold stocks were also boosted as the precious metal stayed around its record highs.

Shanghai added 1.52 percent as dealers awaited economic figures Thursday that are expected to show gross domestic product boomed in the third quarter.

TOKYO: Up 0.98 percent. The Nikkei-225 gained 100.33 points to 10,336.84. The index is at the highest level since September 24.

“Tokyo market gains will likely be sustained through the week on bullish signs from U.S. corporate earnings,” Shinichiro Matsushita, market analyst at Daiwa Securities, told Dow Jones Newswires.

HONG KONG: Up 0.83 percent. The Hang Seng Index finished up 184.50 points at 22,384.96. Dealers sent the market to its best finish since August 4 last year. “Buying interest continues, supported by ample liquidity in the market,” Ben Kwong, chief operating officer at KGI Asia Ltd, said.

SYDNEY: Up 1.11 percent. The S&P/ASX 200 added 53.4 points to 4,846.2.

SHANGHAI: Up 1.52 percent. The Shanghai Composite Index, which covers both A and B shares, was up 46.18 points to 3,084.45. Financials and shipping firms led the rise on hopes for improving economic fundamentals, dealers said.

“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 said.

SEOUL: Up 0.61 percent. The KOSPI ended up 10.08 points at 1,659.15.

SINGAPORE: Flat. The Straits Times Index eased 0.61 points to 2,711.09. Analysts said despite data showing an economic recovery for Singapore was under way, investors in the city remained cautious ahead of third quarter earnings.

BANGKOK: Down 0.82 percent. The Stock Exchange of Thailand fell 6.01 points to 725.60. “Investors took profits during the afternoon trade, mainly in energy shares, after strong gains over the previous two days,” said Pongpat Siripipat, an analyst from KGI Securities.

KUALA LUMPUR: Up 0.34 percent. The Kuala Lumpur Composite Index gained 4.25 points to 1,265.74.

JAKARTA: Down 0.74 percent. The Jakarta Composite Index lost 18.70 points to 2,502.22.

MANILA: Up 0.45 percent. The composite index gained 13.06 points to 2,945.26.

WELLINGTON: Up 0.98 percent. The NZX-50 closed 31.64 points higher at 3,252.56.

MUMBAI: Down 0.59 percent. The 30-share Sensex dropped 103 points to 17,223.01.

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