Asian markets close higher
Asian markets close higher Asian market closed higher on the fourth consecutive day, led by Cnooc and Rio Tinto Group, on expectations that the lower U.S. interest rates will lead to global economic growth and sustained demand for commodities. BHP Billiton advanced to a record after the Herald Sun (newspaper) reported that the company may announce a large gold discovery. Santos and Singapore Petroleum advanced after production started at an oil field in Indonesia. Hong Kong Exchanges & Clearing jumped on a surge in share trading and speculation of takeovers within the industry. Markets in Japan, South Korea and Taiwan are closed today. Hong Kong`s Hang Seng gained 708.16 points, or 2.74%, to trade at 26,551.94. China`s Shanghai Composite gained 30.34 points, or 0.56%, to trade at 5,485.01. Singapore`s Straits Times added 96.80 points, or 2.73%, to trade at 3,639.02. (4.00 p.m, IST )
