Asia: Marts rise on Wall Street rally

HONG KONG: Asian markets rose yesterday after the Dow on Wall Street hit a more than five-year high, while the head of the European Central Bank soothed concerns over the eurozone.

A strong bond sale in Italy also helped the euro despite uncertainty after weekend polls, while the yen resumed its downward trend after Japan's government nominated a fan of aggressive easing as the new central bank governor.

Tokyo climbed 2.71 per cent, or 305.39 points, to 11,559.36 as the yen sank on confirmation that Japan's government had put forward Haruhiko Kuroda to take over at the Bank of Japan.

Kuroda, the current Asian Development Bank chief, is known as an advocate of a looser monetary policy to overcome slow growth, in line with the views of Prime Minister Shinzo Abe.

Sydney added 1.34 per cent, or 67.5 points, to end at 5,104.1 and Seoul rose 1.12 per cent, or 22.45 points, to 2,026.49. Shanghai jumped 2.26 per cent, or 52.37 points, to 2,365.59. Taipei was closed for a public holiday.

ECB President Mario Draghi said on Wednesday the bank would preserve the integrity of the eurozone, reasserting its commitment to buy up bonds of under-pressure countries.

"We are committed to preserving the integrity of our currency in the interests of all people of the euro area," he said.

In other markets:

* Wellington jumped 1.02 per cent, or 43.69 points, to 4,320.01.

* Manila closed 1.59 per cent higher, adding 105.18 points to 6,721.45.

* Bangkok added 1.55 per cent, or 23.53 points, to 1,541.58.

* Mumbai slid 1.52 per cent, or 290.87 points, to 18,861.54 points.

* Jakarta ended up 1.68 per cent, or 79.37 points, at 4,795.79. AFP