Asia Roundup: Gains in Dow lift markets

HONG KONG: Asian markets climbed yesterday following another record-breaking close for Wall Street's Dow Jones index, while Tokyo hit its highest level since the collapse of Lehman Brothers in 2008.

The Japanese currency fell to a three-and-a-half-year low against the US dollar and also sank against the euro as investors look to the Bank of Japan's next policy meeting, on expectations of a further loosening of monetary policy.

Tokyo closed up 2.64 per cent, or 315.54 points, at 12,283.62, its highest level since the collapse of Wall Street banking giant Lehman Brothers heralded the start of the global financial crisis.

Sydney gained 0.28 per cent, or 14.2 points, to 5,123.4, Seoul was flat, edging up 1.61 points to 2,006.01.

Shanghai fell 0.24 per cent, or 5.68 points, to 2,318.61.

In New York the Dow ended at an all-time high for the third straight session, with analysts saying the market's stellar performance had attracted more buyers.

The Dow ended 0.23 per cent higher after breaking on Tuesday its previous record set in October 2007.

The S&P 500 was up 0.18 per cent and the Nasdaq climbed 0.30 per cent.

In other markets:

* Taipei rose 0.69 per cent, or 54.63 points, to 8,015.14.

* Manila climbed 1.62 per cent, or 108.64 points, to 6,833.77.

* Wellington rose 0.47 per cent, or 20.55 points, to a record high 4,354.03.

* Jakarta ended up 0.54 per cent, or 26.20 points, at 4,874.50.

* Bangkok rose 0.38 per cent or 5.94 points to close at 1,566.92.

* Mumbai rose 1.39 per cent, or 269.69 points, to 19,683.23 points. AFP