Asian stocks close stronger


In oil markets, US benchmark West Texas Intermediate for September delivery rose 38 US cents to $US96. 79 while Brent crude for October was up 23 US cents to $US101. 83. Gold traded at $US1,300. 62 an ounce at 1843 AEST compared to $US1,302. 22 an ounce late on Monday. - Wellington rose 0. 85 per cent, or 43. 09 points, to 5,114. 21.

Global mining giant BHP posted a 23. 2 per cent jump in annual net profit and said it would create a new independent company by spinning off non-core assets to reduce costs and boost productivity. Shares in BHP closed 1. 35 per cent higher ahead of the announcement. Hong Kong climbed 0. 67 per cent, or 167. 49 points, to 25,122. 95 and Shanghai ended up 0. 26 per cent, or 5. 86 points, at 2,245.

Taiwan Semiconductor Manufacturing Co was 0. 81 per cent higher at $Tw124. 0 while leading chip design house MediaTek gained 2. 0 per cent to $Tw510. 0. - Manila climbed 0. 79 per cent, or 55. 17 points, to 7,082. 75.

Read more here: Business Spectator


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