RTTNews - The markets across Asia ended in the positive territory on increasing hopes that the worst for the global economy is over. Australian stock market rose on stable employment report and Japan's Nikkei gained on bargain hunting at lower levels. Hong Kong's Hang Seng advanced on higher commodity prices. However, the markets in China, Singapore and India ended in the negative territory on late selling.

In Japan, the benchmark Nikkei 225 Index ended the session at 10,388, up 135.56 points, or 1.32%, while the broader Topix index of all first section stocks gained 7.93 points, or 0.84%, to close at 958.

On the economic front, a preliminary report released by the Cabinet Office revealed that the country's leading index increased to 79.8 in June from 76.9 in the preceding month. Economists expected the index to be 79.7. The leading index has now increased for the fourth consecutive month in June.

Automakers led the gains. Toyota Motor gained 3.77%, Honda Motor rose 3.67%, Suzuki Motor advanced 2.67%, Hino Motors surged up 8.36%, Nissan Motor Co. increased 3.08% and Isuzu Motors soared 6.75%.

Mining stocks also ended higher following rise in commodity prices in the International market. Sumitomo Metal Mining gained 3.39%, Sumitomo Electric Industries rose 2.65%, and Toho Zinc surged up 5.67%.

Retail stocks also ended in positive territory. Fast Retailing rose 1.23%, Seven & I Holdings added 0.67% and Aeon Co. gained 1.40%.

Trading companies also advanced on bargain hunting. Toyoto Tsusho gained 3.25%, Mitsui & Co rose 2.91%, Sumitomo Corp advanced 2.60% and Mitsubishi Corp edged up 0.21%.

Shipping stocks also ended mixed. While Kawasaki Kisen added 1.32%, Nippon Yusen fell 1.45% and Mitsui OSK Lines lost 1.36%.

Mixed trading was also witnessed among the banks. Sumitomo Mitsui Financial lost 1.23% and Resona Holdings slipped 0.74%. Mizuho Financial remained unchanged from previous close, and Mitsubishi UFJ Financial advanced 1.34%.

In Australia, the benchmark S&P/ASX200 Index rose 61.80 points, or 1.45%, to 4,326, and the All-Ordinaries Index ended with a gain of 1.38% or 58.80 points, at 4,331.

On the economic front, the Australian Bureau of Statistics revealed that job rate in the country remained unchanged in July compared with June. The jobless rate for the population aged 15 years and over stood at a seasonally adjusted 5.8% in July, unchanged from the previous month. Economists expected the rate to climb to 6%. A year ago in July, the jobless rate was only 4.3%.

The surprise steady unemployment rate raised speculation that the Reserve Bank of Australia might have to raise the interest rates as early as next month from its present rate of 3.00%.

Banks and commodity stocks led the rally. Commodity prices rose in the international market on Wednesday in increasing confidence of a pick-up in demand amid recovery prospects.

Alumina Ltd, a partner of U.S aluminum producer, Alcoa, reported a narrower than expected underlying loss for the first half ended 30 June. The stock price surged up 9.89%.

In the mining space, BHP Billiton gained 1.68%, Rio Tinto advanced 1.86%, Fortescue Metals surged up 4.36%, Mincor Resources rose 3.27% and Minara Resources soared 10.48%.

Banks also ended higher on expectations of interest rate hike and re-rating of the sector by analysts. ANZ Bank advanced 1.25%, Commonwealth Bank of Australia gained 2.69%, National Australia Bank added 1.26% and Westpac Banking rose 3.90%.

Mixed trading was witnessed among energy stocks. Woodside Petroleum added 0.46%, Santos advanced 0.41% and Origin Energy rose 0.97%. However, Oil Search bucked the trend and slipped 0.90%.

Gold stocks ended in negative territory. Lihir Gold slipped 2.15%, Newcrest Mining lost 1.05% and Sino Gold shed 2.01%.

In Hong Kong, the Hang Seng Index ended in positive territory with a gain of 404.77 points or 1.97% at 20,899, led by telecom and resource stocks, after having paused for profit taking in the earlier session, on increasing confidence about global economic recovery.

Resource related stocks led the gains. Aluminum Corp. of China, or CHALCO, gained 1.32%, PetroChina advanced 2.98% and CNOOC rose 3.58%.

Telecommunication stocks also surged higher. China Unicom surged up 7.87% and China Mobile soared 7.46%.

Mixed trading was witnessed among the property and banking stocks.

In South Korea, the benchmark KOSPI Index gained 5.57 points, or 0.36% to close at 1,565. Buying interest in financial stocks on strong earnings helped the index finish above the unchanged line amid choppy trading as investors preferred to move to sidelines ahead of key economic data.

Late selling in auto stocks saw Indian markets further drifting deep into negative territory, having opened weak on global cues. The BSE Sensex finished the session at at 15,514, down 389.80 points or 2.45% from its previous close, and the S&P CNX Nifty lost 109.65 points or 2.31% to close at 4,586.

Among the other major markets in the region, China's Shanghai Composite Index lost 72.17 points, or 2.11% to close at 3,356 and Singapore's Strait Times Index shed 5.33 points, or 0.20% to close at 2,602. However, Indonesia's Jakarta Composite Index ended in positive territory with a gain of 42.91points, or 1.85% at 2,360, and Taiwan's Weighted Index added 20.41 points, or 0.30% to close at 6,869.

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